Manufacturers are Leading the Charge in AI Adoption, with 61% Predicting to Achieve AI Goals in Just 11 months, Fluke Reliability Survey Finds.
A recent survey by Fluke Reliability reveals that manufacturers are leading in AI adoption, with 61% expecting to meet their AI goals within 11 months. Conducted by Censuswide, the survey involved over 600 senior decision-makers and maintenance professionals from the US, UK, and Germany.
AI is a high business priority for 93% of respondents, with significant investment planned for AI technologies in 2024. Predictive maintenance is a key focus, with 77% aiming to shift from reactive to proactive strategies.
Investments are driven by the benefits of AI, such as improved efficiency, new product development, and addressing labor shortages. Despite only 9% having completed their Industry 5.0 goals, manufacturers show strong confidence in AI's transformative potential.
- 61% of manufacturers expect to meet their AI goals within 11 months.
- 93% of respondents identify AI as a high business priority.
- 77% aim to shift from reactive to proactive maintenance strategies.
- On average, manufacturers plan to invest 44% of their technology budget on AI in 2024.
- 30% of manufacturers plan to allocate 51-75% of their technology budget on AI.
- AI adoption is driven by benefits such as new product development, improved efficiency, and addressing skilled labor shortages.
- Only 8% currently operate a predictive maintenance strategy.
- Only 9% of manufacturers have completed their Industry 5.0 goals.
Business growth, addressing the skills gap, and the need for greater efficiency are driving plans for AI, machine learning, cloud computing and other digital technology adoption.
Everett, Washington, June 12, 2024 (GLOBE NEWSWIRE) -- Artificial Intelligence (AI) implementation is expected to play a crucial role in manufacturing operations in the next wave of industrial revolution, also known as Industry 5.0. A newly released report by Fluke Reliability, which empowers reliability and maintenance teams with the hardware, software, and services to optimize asset performance, confirms these claims.
Censuswide conducted the research, which surveyed over 600 senior decision-makers and maintenance professionals in the U.S., the UK, and Germany. The findings confirm that manufacturers are at the forefront of implementing AI technologies into day-to-day operations.
The results offer a clear, almost unanimous picture of the manufacturing landscape. AI will be a high business priority for companies over the next 12 months according to
Regarding the role of AI in predictive maintenance, only
Manufacturers are already turning their intentions into action; on average, respondents said they intend to invest
While only
“Predictive maintenance is becoming a need, not a want - especially as skilled labor is hard to come by and retain,” says Ankush Malhotra, President of Fluke Reliability. “AI offers a clear pathway and there is a strong belief within the industry that manufacturers who don’t adapt to the benefits are likely to be left behind. The results of this survey show that while many industries are talking about AI implementation, manufacturers are walking the talk.”
Of those looking to invest in the next 12 months, the need for adoption was largely driven by the benefits of AI implementation including:
- the ability to develop new products and services (
35% ) - provide a new way to address data processing and analysis requirements (
35% ) - a means to address the call for improvements to customer service (
35% ) - the demand for improved efficiency and productivity (
34% ) - ways to compensate for the skilled labour shortage (
31% ).
“It’s no surprise that manufacturers are bullish in their adoption of AI,” said Aaron Merkin, Chief Technology Officer, Fluke Reliability. “We know it works and have customers who have seen value in as little as three months.”
To view the full results of the survey, visit https://info.fluke.com/frs-0624-download-value-of-ai-lp-1-a
-ENDS
About Fluke Reliability
Fluke Reliability, a wholly owned subsidiary of Fortive Corporation [NYSE: FTV] and operating company of Fluke Corporation, offers reliability and maintenance teams the tools, software, AI-powered insights, and services they need to optimize asset performance. Home to powerful, iconic brands – PRUFTECHNIK, Azima DLI, and eMaint – Fluke Reliability enables customers to shift from reactive to predictive maintenance utilizing a connected approach to reliability. Fluke Reliability informs customers on the health of their assets with software and services that drive better maintenance decisions – improving productivity, driving uptime, boosting visibility, and reducing costs. For more information on Fluke Reliability, visit https://reliability.fluke.com/ or LinkedIn.
Fluke Reliability is a registered trademark of Fluke Corporation. The names of actual companies and products mentioned herein may be the trademarks of their respective owners. For more information, visit the Fluke website.
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FAQ
What percentage of manufacturers expect to meet their AI goals within 11 months?
How much of their technology budget do manufacturers plan to invest in AI in 2024?
What is the current status of predictive maintenance strategies among manufacturers?
What is driving the adoption of AI in manufacturing?
What percentage of manufacturers plan to allocate 51-75% of their technology budget on AI?
