In industrial organizations across North America and Europe, the majority of IT and Operations decision makers agree—Industrial AI is key. It promises to drive new business value in areas of cost, productivity and efficiency, while also providing a competitive advantage over peers. The benefits of Industrial AI, and the need to create a strategy around unleashing and maximizing the full potential of Industrial AI, are almost universally clear and embraced. Industrial organizations don’t need to be sold on the value of Industrial AI; the challenge is in realizing it.
To better understand these challenges, Aspen Technology, Inc. commissioned an independent survey of 200 North American and European IT and Operations decision makers from across the industrial sector, including companies in construction and engineering, chemicals, energy, oil and gas, pharmaceuticals, and metals and mining. The findings provided key insights into the current state of Industrial AI adoption, as well as the core challenges that are inhibiting organizations from realizing the full value of Industrial AI, namely industrial data quality and management, internal silos and a lack of collaboration among relevant teams and the lack of a clear strategy for Industrial AI.