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 commissioned by Plutoshift.
Plutoshift surveyed 250 manufacturing professionals in October 2019 with visibility into their company’s AI programs. 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 AI initiatives, many planning and implementation struggles remain, from defining realistic outcomes, to data collection and maturity, to managing budget scope and more.
A major reason companies are rethinking their AI implementation plans is a lack of data infrastructure needed to fully utilize AI. Nearly 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 AI’s benefits.
“Companies are forging ahead with the adoption of AI at an enterprise level,” says Prateek Joshi, founder and CEO of Plutoshift. “But, despite the progress that some companies are making with their AI implementations, the reality that’s often under-reported 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 toward 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 the 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.