A recent report by Fluke Reliability highlights the growing emphasis on Artificial Intelligence (AI) within the manufacturing sector, particularly as companies embrace Industry 5.0 initiatives. This evolving framework focuses on enhancing collaboration between humans and robots, alongside increased interaction with Industrial Internet of Things (IIoT) devices.

The Fluke Reliability survey, conducted by Censuswide, gathered insights from over 600 senior decision-makers and maintenance professionals across the U.S., U.K., and Germany. The findings reveal that manufacturers are poised to lead the way in integrating AI technologies into their daily operations, with a specific focus on predictive maintenance and machine learning.

Key survey results include:

• High Priority for AI: An overwhelming 93% of respondents indicated that AI will be a critical business priority over the next 12 months. This sentiment is mirrored at the organizational level, with 90% of senior decision-makers and over 80% of maintenance managers echoing the same belief.
• Current AI Adoption: While only 8% of manufacturers currently have a predictive maintenance strategy in place, a significant 76.5% aspire to transition to predictive or proactive maintenance in the future, viewing AI as essential to achieving this transition.
• Investment Plans: Manufacturers plan to allocate 44% of their technology budgets to AI in 2024. Notably, 30% of respondents intend to invest between 51% and 75% of their budgets on AI this year.
• Progress Towards Industry 5.0: Although only 9% of manufacturers report having completed their Industry 5.0 objectives, 61% anticipate reaching their AI goals within the next 11 months.

Ankush Malhotra, president of Fluke Reliability, emphasized the necessity of predictive maintenance, particularly in light of the skilled labor shortage. He stated, “AI offers a clear pathway, and there is a strong belief within the industry that manufacturers who don’t adapt to the benefits are likely to be left behind.”

Respondents cited several driving factors for AI adoption, including:

• The ability to develop new products and services (35%).
• New methods for processing and analyzing data (35%).
• Enhancements to customer service (35%).
• Increased efficiency and productivity (34%).
• Addressing the skilled labor shortage (31%).

Aaron Merkin, chief technology officer at Fluke Reliability, noted the optimism surrounding AI adoption among manufacturers, stating, “We know it works and have customers who have seen value in as little as three months.”