Market Moves: Strategy - Sep 21st, 2023
 
 
After the hype comes the hard work
Market Moves: Strategy | View online
 
September 21, 2023
After the hype, the hard work

Last winter’s buzz around artificial intelligence in general and ChatGPT in particular—the latter hitting 100 million active users in just two months—feels in some respects like a long time ago already. Those heady, holy-cow days have largely given way to the realization that truly making AI work for business will take a lot of money–Goldman Sachs analysts say $200 billion per year by 2025—as well as a lot of time and work.

There are already very impactful things being done—on offshore oil-and-gas platforms and at big bakeries, just to name a few. And what hasn’t changed about AI is its potential to lift productivity growth: McKinsey’s forecast of increases between 0.1% and 0.6% annually through 2040 is on the conservative side of the spectrum of estimates.

Below is a small sample of some AI-in-action stories various Endeavor brands have published of late—as well as two pieces taking big-picture looks at how we can (and ought to) interact with machines. May they aid you on your AI trek.

— Geert De Lombaerde

From Plant Services
The right technology mix starts with the asset infrastructure—not just individual equipment, but as a whole system.
Kevin Clark from Falkonry discusses the real-world value and impact of artificial intelligence in the manufacturing space.
From IndustryWeek
Schneider Electric's Mauricio Casares agrees most ChatGPT applications being pitched are more about sales than operations, but solid use cases are coming.
From Smart Industry
Factory workers, field service personnel and even engineers can benefit from AI tools even if they don’t use computers every day.
From EHS Today
AI and vision processing create massive amounts of data. Going far beyond the raw data can lead to lasting changes for workers when it comes to safety.
From Healthcare Innovation
Amid all the hype, expectations and confusion, some organizations are making real headway.
From Automation World
The Industry 5.0 concept is about greater collaboration between humans and machines but its ultimate success will come from centering workers’ well-being.
More from Smart Industry
People can get left out of the equation with smart manufacturing initiatives. Chris Kuntz at Augmentir discusses how to ensure workers are part of the discussion.