24 June 2019
Industrial Analytics, AI and the Internet of Things (IoT) are changing industries across the world. How is this technology being applied and what impact is it having on the bottom line?
The impact of AI on industry sectors cross the globe is growing daily. It's worth considering and quantifying the tangible difference that new technology and digital transformation is making.
We've put together an infographic showing some of the most jaw-dropping, exciting and impressive statistics we've found from authorities like McKinsey, IDC and more, to get a snapshot of the Business Case for Industrial AI:
- 33% of companies see increased revenue as the main benefit of industrial analytics
- 69% of decision makers believe Industrial Analytics will be crucial for business success in 2020
- 68% of companies have a company-wide data analytics strategy but only 30% have completed actual projects
- 82% of enterprises adopting machine learning and AI have gained returns
- 79% of companies see predictive maintenance as the most important application of Industrial AI
- Big data adoption in enterprises soared from 17% in 2015 to 59% in 2018
- Spending on cognitive and AI systems is predicted to reach $77.6B in 2022
- McKinsey predicts Internet of Things (IoT) will generate $11T in value globally by 2025
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