While manufacturing companies see the value in implementing artificial intelligence (AI) solutions, many are struggling to deliver clear results and are reevaluating their strategy, according to a new report. The report was commissioned by Plutoshift, a provider of automated performance monitoring for industrial workflows.
The findings revealed that almost two-thirds (61%) of manufacturing companies said they need to reevaluate the way they implement AI projects. The report, titled “Breaking Ground on Implementing AI,” uncovered that while companies are making progress with their AI initiatives, many planning and implementation struggles remain, from defining realistic outcomes to data collection and maturity to managing budget scope and more.
To gauge the progress and process of how manufacturing companies are implementing AI, and whether or not they are satisfied with their AI initiatives, Plutoshift surveyed 250 manufacturing professionals in October 2019 with visibility into their company’s AI programs.
A major reason companies are rethinking their AI implementation plans is a lack of data infrastructure needed to fully use AI. 84% of respondents say their company cannot automatically and continuously act on their data intelligence.
The report uncovered further foundational challenges with successful AI implementation, including that 72% of manufacturing companies said it took more time than anticipated for their company to implement the technical/data collection infrastructure needed to take advantage of the benefits of AI.
“Companies are forging ahead with the adoption of AI at an enterprise level,” said Prateek Joshi, CEO and founder of Plutoshift. “But despite the progress that some companies are making with their AI implementations, the reality that’s often underreported is that AI initiatives are loosely defined. Companies in the middle of this transformation usually lack the proper technology and data infrastructure. In the end, these implementations can fail to meet expectations. The insights in this report show us that companies would strongly benefit by taking a more measured and grounded approach towards implementing AI.”
Other key findings include:
- 57% said their company implemented AI projects with a clear goal, while almost 20% implemented AI initiatives due to industry or peer pressure to utilize the technology
- 17% of respondents said their company was in full implementation stage of their AI projects
- 62% said their company took more time than anticipated to acquire internal buy-in and commitment in implementing AI
- 60% said their company struggled to come to a consensus on a focused, practical strategy for implementing AI