Research: Generative AI will help manufacturers unlock $10.5 billion in added revenue by 2033

Sept. 1, 2023
New intelligence from ABI Research claims that manufacturers that invest in generative AI will see additional revenues of $4.4 billion from 2026 to 2029. By 2033.

New intelligence from ABI Research claims that manufacturers that invest in generative AI will see additional revenues of $4.4 billion from 2026 to 2029. By 2033, ABI Research believes that $10.5 billion in added revenue will be attributed to the use of generative AI. These findings come from ABI Research’s Generative AI Use Cases in Manufacturing report, which is part of the Industrial and Manufacturing Technologies research service. The organization says that design will see the fastest mainstream deployment, with engineering, production, and operations taking longer because of the complex tasks and required model training.

In a recent quote, James Iversen, Manufacturing and Industrial Industry Analyst at ABI Research, said, “Generative AI has growth that will derive from functionality and use cases across market verticals. The deployment of generative AI will come in three waves as the technology matures, with manufacturing seeing the largest revenue growth during the second and third waves. During the second and third waves of adoption, generative AI will be deployed into four domains of manufacturing: design, engineering, production, and operations.”

Sponsored Recommendations

Effective Enclosure Heating

Aug. 22, 2024
Effective enclosure heating is essential for peak operational efficiency in outdoor and indoor contexts.

Busbar: The Next Evolutionary Step in Control Panel Design

Aug. 22, 2024
Learn how busbar power distribution can help control panel manufacturers unlock enhanced safety, lower costs, and a reduced automation footprint.

Reduce Contamination with the Right Enclosure for Your Food and Beverage Application

Aug. 22, 2024
Protecting electrical controls and equipment within food and beverage plants presents unique challenges due to the sanitation requirements of the hygienic environment.

Enclosure Climate Control: Achieving the Ideal Temperature

March 28, 2024
There are several factors to consider when optimizing the climate inside your electrical enclosure. Download this white paper to learn more.