Manufacturers turning to AI for critical advantages, report finds
Engineering teams that adopt artificial intelligence are more likely to achieve increased revenue, profitability and competitiveness for their employers, a new study has found.
Commissioned by artificial intelligence (AI) software provider Monolith, Forrester Consulting’s study – titled The State of AI in Engineering – surveyed 163 senior engineering leaders at multinational automotive, aerospace and industrial/manufacturing enterprises in the US and Europe.
The study is claimed to be the first of its kind around engineering product development, revealing the challenges and key priorities that engineering leaders face in the validation and verification stage of the development workflow.
“The perfect storm is brewing in engineering as market trends around sustainability and digitalisation are creating even more intractable physics problems that current validation and testing methods are unable to solve," Dr Richard Ahlfeld, CEO and founder of Monolith said in a statement. "As data from this study shows, engineering leaders are at a fork in the road to innovate in new ways as pressure to stay profitable and competitive rises."
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The survey found that engineers are feeling pressure to introduce products to market faster with 71 per cent of engineering leaders indicating they need to find ways to accelerate product development to stay competitive.
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