FACTORY OF THE FUTURE
INDUSTRY IS GOING DIGITAL
Schneider Electric ’ s latest research in partnership with OMDIA shows that 60 % of industrial companies predict that digital transformation will have a major impact on their operations in the next two to three years .
The company also highlights cable system manufacturer Nexans , which has seen vast benefits from digitisation . The business saw data usage capacity increase from 10 % to 70 % in three years and saw a return on investment in less than three years .
the AI market is projected to reach US $ 407bn by 2027 .
According to Latest Industry Reports , The global Artificial Intelligence ( AI ) in Manufacturing market was valued at US $ 2.54bn in 2023 and is anticipated to reach US $ 3.2bn by 2030 , a compound annual growth rate of 3.3 % during the forecast period 2024-2030 .
Sam emphasises though that AI , regardless of its nature as generative or predictive , needs to be discussed in terms of its business case . This is something which he feels manufacturers , despite their enthusiasm , are struggling to do .
“ A lot of manufacturers are enthusiastic about AI , but they struggle to articulate that kind of business perspective , how this is actually going to benefit us ,” Sam says , pointing to Orange Business ’ s collaboration with Surveily to enhance safety through AI-powered CCTV .
“ Our work with Surveily is a very nice example . You can see that it ’ s about safety . If we ’ re presenting a solution and talking about AI , it means we haven ’ t found the right business case .”
Sam , and by extension Orange Business , recognises that all forms of digital transformation must serve business needs and goals . Technology is a strategic investment that can enhance operations and enable
76 September 2024