Artificial Intelligence Is Gaining Increasing Traction in the Manufacturing Sector, with Annual Spending on AI Software, Hardware, and Services to Reach $13.2 Billion by 2025

The manufacturing industry exhibits some contradictions when it comes to automation and technology. On the one hand, manufacturing was among the first industries to integrate any type of technology more than a century ago, as companies incorporated tools to aid in the production process. On the other hand, manufacturing companies are risk-averse when it comes to implementing new technology quickly, mainly due to the large amount of capital and time at stake. However, according to a new report from Tractica, manufacturing companies are now incorporating artificial intelligence (AI) technology within their environments at a modest, yet steady, pace. The market intelligence firm forecasts that annual worldwide manufacturing sector investment in AI software, hardware, and services will increase from $2.9 billion in 2018 to $13.2 billion by 2025.