The impact of Artificial Intelligence on business growth
While industrial companies see Artificial Intelligence as a key factor for growth, the lack of expertise in AI and an insufficient volume of qualitative data are still obstacles to wider adoption of this technology. Having interviewed 858 leaders and professionals from industries, mostly European, during the Industry of Things World conference, the industry division of 360digitmg concluded that by 2030, the artificial intelligence training in bangalore will generate more than 11% growth for industrial companies. 61% of respondents said they had committed to actions around AI. Of which 11% have deployed them on key activities or functions of the company. And 14% plan to deploy them within the next 12 months. Note also that 36% of respondents are in the evaluation phase.
Increasing turnover and margins
AI-related projects should explode in the coming years. All the more so since expectations are high: the growth of 11.6% in turnover and 10.4% in margins by 2030! These expectations are based in part on the first positive results obtained, the success rate of 95% would have been reached, even exceeded by the first companies that deployed AI. These are figures that should encourage investment in AI projects. Currently, manufacturing companies spend an average of 1.95% of their turnover on IT. They plan to invest 0.48% of their turnover in AI. The last major lesson of the study, by the promising results, 2 out of 3 respondents think that the new professions created by AI will compensate, or even exceed, the number of jobs made obsolete by AI.
AI across the entire value chain
The use cases deployed by survey respondents cover the entire value chain of the company:
- 38% – Research and development;
- 34% – Maintenance;
- 32% – Operation;
- 29% – Services;
- 21% – Forecast of requests;
- 20% – Sales;
- 18% – Production schedule.
- The main objectives of AI deployments
- 27% – Increasing the efficiency of operations, maintenance and supply chain operations;
- 45% – Improving the customer experience;
- 41% – Improvements to products and services thanks to new functionalities;
- 37% – Rapid and automatic adaptation to changing market conditions;
- 34% – The creation of new business models;
- 32% – A better match between supplies and needs with better forecasting and planning capacity.
The main obstacles for Artificial intelligence training
There are, however, some major hurdles to overcome when considering deploying AI on a large scale:
- 47% – Lack of quality and volume of data needed to feed AI algorithms;
- 42% – Lack of skills and knowledge about AI and analytical processing;
- 34% – Lack of data governance and enterprise-wide data architectures.
Which professions will be the most impacted?
All professions will not be impacted in the same way by AI. Of course, manual trades will be the most. Handling, mechanics, industry, distribution and service trades are threatened by the inevitable advent of automation. However, robots will not replace humans in all of their tasks. They will certainly help them, but will not obscure them. Thus certain manual trades will resist. The building trades seem a priori spared. AI will benefit more to the management of the company, its management and its performance. Technical expertise, social interactions and organization can only continue to be managed by men. AI will free people from work, give them time to work differently, to work differently.
How to prepare our teams for the transformation of their professions?
To cope with these transformations, preparation and training will be decisive. The central question does not lie so much in what will be the professions of tomorrow but rather in the skills to integrate to reinvent his profession. Technical skills are less and less sustainable. AI now centralizes the collection and monitoring of data, leaving high value-added skills to people. We must now prepare our teams to manage artificial intelligence. The skills will “hybridize” to complement each other between technical and transversal or scientific skills, reconsidering the challenges in terms of training. Thus, skills related to design thinking and agility are exploding. It is estimated that nearly 80,000 jobs will be lacking in this field by 2020.