Lack of agreement on AI causes UK manufacturers to lose £151,000 annually

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The UK manufacturing industry is failing to invest in artificial intelligence (AI) – creating a potential loss of £180 billion to the UK economy.

Those manufacturers that do employ AI-enabled systems typically save £151,000 annually thanks to increased machine and workforce productivity – equating to 50 hours of enhanced efficiency in the workplace.

The research conducted by field service management company Oneserve, in partnership with leading British manufacturers, found that there is a worrying amount of disconnect around AI in the industry.

More than seven out of ten (72%) senior decision makers who took part in the research said AI is valuable to the industry’s future, but 67% also said the benefits to businesses are not clear.

In addition, nearly all (93%) senior decision makers said their workforce would be more productive as a direct result of moving towards AI-enabled systems.

Oneserve says that harnessing AI will create a ‘smart manufacturing’ workforce; where machine downtime is significantly reduced, workforces are managed efficiently, and customer relations are improved based on historical data analysis not guess work.

It adds that manufacturers that choose not to integrate AI into their systems are at serious risk of being left in the past.

Says Oneserve chief Chris Proctor: It’s very worrying to see such disconnect between those leading the manufacturing industry – especially when it comes to artificial intelligence which could have such a positive and dramatic impact on the industry as a whole. AI-enabled systems must become the norm if the UK is to stay at the top of the manufacturing league.”