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Schroder Investment: AI will drive the widespread application of industrial software.
Integrating AI into industrial software development can significantly enhance manufacturers' value propositions. The benefits of AI applications include improving work efficiency, enhancing functionality, and expanding markets.
Recently, Schroders Global Investment published an article pointing out that as more manufacturers are turning to digital solutions to increase productivity and reduce waste, incorporating AI into these platforms will bring disruptive changes. By driving innovation, adding functionality, and exploring new markets, AI-driven industrial software is expected to play a key role in shaping the future of manufacturing. Integrating AI into industrial software development can significantly enhance manufacturers' value propositions. The benefits of AI applications include improving work efficiency, enhancing functionality, and expanding market opportunities. Schroders Global Investment noted that there are worrying shortages of technical skills in various key positions across the manufacturing industry. The industry is striving to fill these vacancies, but the U.S. Manufacturing Institute estimates that around 425,000 positions will still be unfilled by 2029. At the same time, the workforce in the manufacturing industry is aging. Due to the aging population and continued technical skill shortages, wage inflation in the U.S. manufacturing industry is significantly higher than the overall product inflation rate, putting pressure on manufacturers' profit margins. This pressure has prompted manufacturers to turn to digitization to enhance industrial productivity. Whether in the past or present, the adoption of industrial software has been a key driver of productivity improvement in the manufacturing industry, and the pandemic has accelerated this demand. Schroders Global Investment believes that integrating AI into industrial software development can significantly enhance manufacturers' value propositions. The company expects that the application of AI will bring many benefits. Firstly, it will improve work efficiency as AI can enhance the programming efficiency of software engineers, accelerate innovation speed, and streamline the process of developing plans. Secondly, it will enhance functionality as AI can improve the reliability, interface, and usability of software platforms. Machine learning algorithms can analyze input data to identify patterns, and AI can use this data to make real-time decisions to enhance the software's performance. Lastly, it will expand market opportunities as the integration of AI can promote the application of industrial software in new markets and develop a wider range of application scenarios.
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