In the coming wave of Industry 5.0, artificial intelligence (AI) is poised to play a central role in the innovation process of manufacturing. This forward-looking insight is backed up by a new research report from Fluke Reliability, which reveals strategies for optimizing asset performance by integrating hardware, software, and services tailored to reliability and maintenance teams.

Conducted by Censuswide, the survey polled more than 600 senior decision makers and maintenance experts across the United States, the United Kingdom and Germany to outline the trend of AI technology becoming dominant in the day-to-day operations of manufacturing.

REF630 The survey results paint a clear and near-unanimous picture of the future of manufacturing. A whopping 93% of respondents strongly believe that AI will become a top priority for their company’s business in the next 12 months. This sentiment is also widely echoed at the organizational level, with 90% of senior decision makers and 75% of maintenance managers agreeing.

When it comes to the role of AI in predictive maintenance, although only 8% of respondents have fully implemented predictive maintenance strategies today, 76.5% of respondents expressed a desire to move to a more advanced predictive/proactive maintenance model in the future, with AI technology seen as key to driving this shift.

The manufacturers’ determination has been translated into concrete action plans. On average, respondents plan to spend up to 44% of their technology budgets on AI in 2024. What’s more, 30% of respondents intend to spend 51-75% of their technology budget on AI this year, demonstrating strong confidence in the field.

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While only 9% of manufacturers currently believe they are on track for Industry 5.0, 61% expect to achieve AI adoption in as little as 11 months.

REF630 As Ankush Malhotra, President of Fluke Reliability, points out, “Predictive maintenance is evolving from an expectation to a necessity, especially in today’s increasingly scarce skilled workforce. AI shows us a clear path, and there is a general consensus in the industry that manufacturers who fail to adapt to this change risk being marginalized. The results of this survey clearly show that while AI is being talked about in many industries, manufacturers are not only talking about it, they are doing it.”

For those manufacturers who plan to invest in AI in the coming year, the main drivers for their actions are the significant benefits AI offers, including:
• Possibility to develop new products and services (35%)
Leading new ways to process and analyze data (35%)
• Meeting standards to improve customer service (35%)
• Driving leaps in efficiency and productivity (34%)
• Alleviating the pressure of high-skilled talent shortages (31%)

Aaron Merkin, CTO of Fluke Reliability, concluded: “The positive embrace of AI by manufacturers is not surprising. We have already seen the effectiveness of AI and the increase in value that customers can feel in just three months.”