A new report indicates that among construction companies eager to implement smart production strategies, generative AI provides presents several opportunities for value. The research, “Delivering on The Promise of Industrial AI,” was done by was done by IFS, a technology company providing industrial AI software.
The report said one-third of companies “keen to embrace” smart production say it will:
- Help with consistency, quality control, and risk management
- Improve performance monitoring and asset maintenance
- Contribute to process automation
- Sharpen waste monitoring in real time
Nearly 75% of construction & engineering respondents said that the industry is adopting AI at a quicker pace than others. Product and services innovation (32%) and people productivity (31%) are the two areas where construction & engineering companies expect AI to make large differences.
Sustainability planning also correlates directly with overall AI optimism. Most construction & engineering respondents that have an AI strategy for sustainability say it can have the biggest impact in meeting sustainability goals (25%) and accurate demand visibility to control waste (22%).
Among all respondents, 27% said that they have a clear AI strategy and are seeing results, and 48% said that they were doing proposals or pilots on AI.
Factors slowing adoption progress were identified as a legacy-based technology landscape (41%), ethical/safety/security concerns (36%), and data complexity (32%).
“At the surface level, the lack of optimism across some respondents may suggest we are at the edge of a trough of disillusionment, particularly following the all-encompassing hype that AI enjoyed for much of the last 18 months,” said Christian Pedersen, chief product officer, in a statement.
“The lofty expectations for AI bely a fundamental misunderstanding of how it is supposed to drive value. The real power lies in Industrial AI, where data flows through every part of your business, combining structured, interlinked datasets to uncover insights, optimize every process and marry the digital with the physical world.”
The survey went to upper managers in services, manufacturing, telecommunications, A&D, construction & engineering, or energy & resources in organizations with more than $50 million in annual revenue across the U.S., Canada, UK, Germany, France, UAE, Norway, Japan, Australia, Sweden, Denmark, and Finland.
