Industrial Sector Drives Artificial Intelligence Applications for Increased Efficiency, Reduced Costs - Environment Energy Leader

The industrial sector in the US, driven by high labor costs and the quick time-to-market, has been pushing to enhance production efficiency and lower operation costs, leading to an increase in the use of industrial artificial intelligence (AI) applications, according to a new report from ABI Research. The total installed base of AI-enabled devices in industrial manufacturing will show a compound annual growth rate of nearly 65% through 2024. US manufacturers have been aggressive with the adoption of industrial AI solutions; this has given birth to pure-play AI players in the US and will keep the US as the global leader in industrial AI solutions for some time to come. Over time, however, China will catch up, as investments are poured into AI and related technologies, says Lian Jye Su, principal analyst at ABI Research. Cloud service providers, smart manufacturing platform vendors, pure-play industrial AI platform and service providers, edge industrial AI gateway and server vendors, and chipset vendors are partnering with each other to bring AI into industrial manufacturing.