Manufacturing Industries Look to Increase AI Investment
As artificial intelligence, AI, continues to transform industries worldwide, manufacturing sectors are ramping up their investments in this game-changing technology. From enhancing efficiency to driving sustainability, AI is revolutionising how goods are produced and managed.
AI’s Growing Role in Manufacturing
Artificial intelligence is increasingly becoming a cornerstone of modern manufacturing as companies invest in innovative solutions to help enhance efficiency, productivity and sustainability. A recent report highlights a significant shift, with nearly 75% of manufacturers planning to increase their AI spending over the next year.
From predictive maintenance to supply chain optimisation, AI is being used to streamline operations and reduce costs. Key benefits cited by businesses include improved efficiency, higher productivity and the automation of repetitive tasks. Additionally, AI is being leveraged to support sustainability goals, with 93% of firms using it to optimise energy consumption and 64% applying it to reduce waste and emissions.
AI is also enhancing certain processes where its integration can improve precision, reduce waste and optimise energy use. By applying AI to these specialised techniques, manufacturers can achieve consistent quality while lowering production costs, making it a vital tool for businesses seeking to maintain their competitive edge.
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Addressing Challenges to Adoption
Larger companies are more likely to embrace AI than smaller enterprises, with adoption rates of 71% compared to 28% for SMEs. Many small manufacturers cite a lack of knowledge and technical expertise as major hurdles. This gap highlights the need for government and industry initiatives to support these businesses in adopting AI technologies.
Programs like the Made Smarter initiative and increased funding for the Alan Turing Institute aim to boost AI adoption, particularly among SMEs.
However, experts argue that more proactive measures are required. Suggestions include extending R&D tax relief to cover capital equipment investments and ensuring regional equity in the rollout of support programs. Such steps could enable smaller manufacturers to access AI’s benefits, driving innovation and growth across the industry.
