The most innovative manufacturers in the world are leveraging Machine Learning to improve business processes through features such as automation, intelligent forecasting and supply chain management. Almost 90 percent of CIOs believe intelligent systems will increase the accuracy and speed of decision-making. Despite the benefits, not all manufacturers are ready to embrace AI and Machine Learning yet: 51 percent of CIOs say data quality is the top barrier to adoption, while 48 percent cite outdated processes.
Just 45 percent of CIOs have developed methods for monitoring mistakes made by machines. 41 percent of CIOs say they lack staff skills to manage intelligent machines; 47 percent say they lack budget to develop those new skills. Machine Learning can help increase yields while reducing operational costs, improve equipment monitoring and contribute to better anomaly reporting, which are all highly compelling reasons to overcome these problems and enter the era of digital transformation.