Navigating manufacturing challenges with AI and innovation

The global manufacturing industry is at a pivotal crossroads, facing unprecedented challenges and transformative opportunities. This report, commissioned by IFS, delves into the current state of manufacturing worldwide, highlighting key insights from a global survey of industry decision-makers:

• Digital Maturity: A significant portion of manufacturers (65%) are digital laggards, relying on outdated systems and manual tools, while fewer than 10% are digital leaders.
• Top Challenges: Technological disruption (30%), cybersecurity risks (28%), and climate change (28%) are the primary concerns for manufacturers 
• Benefits of Digital Transformation: Companies embracing digital and sustainability initiatives report a 50% improvement in agility, a 44% increase in operational efficiency, and stronger customer satisfaction.
• AI Adoption: While AI holds significant potential, its adoption is hindered by data quality issues, unclear benefits, and regulatory compliance concerns strategic priorities.
• Process Innovation: Increasing focus on process innovation to enhance efficiency and reduce costs.
• Regulatory Compliance: Addressing regulatory compliance challenges to avoid penalties and operational disruptions.
• Operational Resilience: Building resilient supply chains and production systems to withstand global crises By overcoming barriers and leveraging technology, manufacturers can achieve significant improvements in agility, efficiency, and customer satisfaction. The path forward involves embracing AI, optimizing processes, and aligning strategic priorities to navigate the rapidly changing market landscape.

Download our report to discover more today.