AI and digital technologies have the potential to dramatically transform factory work and boost efficiencies for manufacturers, yet according to Boston Consulting Group research, many are failing to seize these new opportunities. Learn why achieving value at scale using digital and AI technologies, requires focusing on “people and processes” — not just technology alone. Gain insights into how best in class companies must integrate lean approaches with new digital and AI tools, while ensuring you have the resources and clarity of vision required to scale your transformation and achieve your desired “factory of the future.”
Update manufacturing processes with digital and AI tools, aligning lean practices and advanced analytics.
Despite the potential benefits of incorporating AI and digital technologies into factory settings, many manufacturers are failing to seize opportunities. According to a Boston Consulting Group survey of nearly 1,800 manufacturing executives worldwide, across seven industries, 89% of companies have plans to incorporate AI into their production networks, while 68% have already started doing so. But only 16% of companies have managed to reach AI related targets. In fact, nearly every executive reported facing challenges when it comes to scaling AI solutions.
There are numerous benefits to harnessing the power of digital and AI technologies on the factory floor. Workers can use data driven insights to boost productivity, communicate more effectively, and implement more effective solutions. AI can also improve the quality, safety, and reliability of production processes, using predictive analytics, while helping companies reduce waste. Companies hoping to leverage the vast potential of these technologies should embrace...
John Knapp, Kasey Phillips, Ian Sullivan, Alex Yurek, Denis Doerbandt, Kaushik Shubhank, and Melissa Hartwick are professionals at Boston Consulting Group.
Comment on this summary or Start Discussion