A CASE FOR MANUFACTURING DIGITALISATION

INDUSTRY 4.0 HAS SHIFTED FROM A DIGITAL TRANSFORMATION ENABLER TO AN IMPERATIVE FOR ENHANCED CUSTOMER EXPERIENCES AND SUSTAINABLE MODELS. HOW IS THE WORLD, INCLUDING INDIA, PROGRESSING ON ITS INDUSTRY 4.0 JOURNEY?

ACCORDING TO A PWC REPORT, THE industrial products and manufacturing sector has seen a maximum increase of 20% over the past two years in adopting AI/ML solutions. In the dynamic landscape of modern industry, the integration of digital technologies is driving a transformative shift in manufacturing processes, yielding unprecedented levels of efficiency, productivity and innovation. India, a key player in the global manufacturing arena, is embracing this digitalisation wave with fervour. As factories and supply chains become increasingly connected and data-driven, the nation is witnessing a remarkable evolution that promises to reshape its industrial landscape.

According to PwC's report "Towards a Smarter Tomorrow: Impact of AI in the Post-COVID Era," the industrial products and manufacturing sector has witnessed the highest adoption of AI/ML in the past two years. About 64% of surveyed organisations in this sector are in the early stages of their AI-driven transformation journey, indicating prospects for increased investments and growth through AI/ML solutions. Sudipta Ghosh, Partner & Leader – Data & Analytics at PwC India, emphasised the importance of a three-fold strategy as organisations advance in their AI utilisation: identifying suitable use cases, rigorous ROI measurement and communication, and fostering responsible and explainable AI adoption and scalability across the enterprise.

THE DIGITALISATION DRIVE: A STATISTICAL SNAPSHOT