Industry expects AI and co. to boost productivity significantly
According to the latest "Performance Drivers 2024" study by Staufen.Inova, eight out of ten industrial companies believe that the introduction of new technologies such as artificial intelligence will boost their productivity. Data analysis in particular is seen as having great potential to identify weak points more quickly and achieve corresponding improvements in results.
"After many years of experimentation and investment, the time is ripe for a productivity boost. Digitalization can now deliver on its promises of greater efficiency and cost benefits in industry," says Sebastian Perez Peña, Senior Consultant at Staufen.Inova. This consulting firm surveyed more than 200 industrial companies in Germany, Austria and Switzerland for the "Performance Drivers 2024" study.
Rapid change expected in the industrial world of work
The results show. The new digital analysis options would now enable deep insights into the processes - including their controllability in real time. "This provides the basis for far-reaching and continuously adaptable optimization measures that serve as drivers for operational excellence in the company," says the industry expert. 73% of the companies surveyed in the DACH region associate the use of new technologies such as artificial intelligence (AI) with "enormous economic potential for our industry". As many as 81 percent expect a significant increase in productivity for their own company. According to Staufen.Inova consultant Perez Peña, the industry is in a state of upheaval: "84% of the study participants expect a rapid change in the industrial world of work due to technological developments. The close integration of employees with intelligent systems will soon characterize everyday working life."
Data analyses to improve results still have a lot of potential
Networked machines and automatically controlled supply chains are leading to a growing mountain of data in companies. However, this is increasingly being used productively. As many as 83% of companies believe that data analysis can be used to quickly identify weaknesses and improve results. However, 86% also admit: "We can make much better use of the potential of data analysis to improve results".
"Digitalization projects do not take place in isolation, but are usually accompanied by process improvements. The success of this approach: two thirds of the study participants are already making more data-based decisions and less based on gut instinct as digitalization increases. And six out of ten companies note that access to data has now improved," reports AI expert Perez Peña. Nevertheless, he still sees room for improvement in the changes achieved so far: "Decision-making processes have only become faster in 39% of companies and only 18% have reduced hierarchies. In order for digitalization to develop its full potential, companies must also allow a new type of collaboration in order to consistently align their processes with value creation and operational excellence. The goal is always a harmonious and perfectly coordinated overall system."
Source and further information: www.staufen-inova.ch
