Artificial Intelligence Promises EUR 60 bn in Incremental Value for German Industry

The application of artificial intelligence (AI) in manufacturing could create EUR 60 bn in additional value for German industry. According to the new study, "The Ghost in the Machine: Artificial Intelligence in the Factory of the Future", for which the Boston Consulting Group (BCG) surveyed manufacturing and technology managers from about 1100 industrial companies worldwide about their applications of and willingness to invest in AI. Almost 90 percent of executives say they aim to integrate AI in their processes in the next three years. Nonetheless, so far only 28 percent have created a clear strategy for AI in manufacturing. In Germany, only 23 percent, or one in four German industrial companies, have developed an AI strategy.