Putting It All Together: AI As The Next Major factor In Manufacturing
On the one hand, missing the AI wave in manufacturing could mean getting stranded. And for some, that will be a reality. Forbes Insights research reveals that more than half of respondents (56%) in the automotive and manufacturing sectors plan to increase artificial intelligence spending by less than 10%.
“If you’re stuck to the old way and don’t have the capacity to digitalize manufacturing processes, your costs are probably going to rise, your products are going to be late to market, and your ability to provide distinctive value-add to customers will decline,” says Stephen Ezell, an expert in global innovation policy at the Information Technology and Innovation Foundation.
Yet it’s not too late to adapt the manufacturing process, and the sector at large, to the changes already taking place. We’re clearly in the early stages of the sea change, and as a recent ITIF report concludes, “There remains a long way to go before this vision is fully realized.”