James Iversen
Industry Analyst
Read More
Topics Covered
Latest Insights
Latest Research
James Iversen In The News
Manufacturing.net (2023-12-19)
Generative AI is everywhere and it is predicted that the technology will boost industry revenues by enabling faster, more precise innovation, as well as automating processes. ABI Research predicts that generative AI will unlock $10.5 billion in new revenues for the manufacturing industry by 2033.
“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,” says James Iversen, Manufacturing and Industrial Industry Analyst at ABI Research.
Citation
Future CIO (2023-08-23)
ABI Research forecasts that total industrial cloud platform revenue in manufacturing will surpass US$300 billion by 2033 with a CAGR of 22.57%, driven by solution providers enhancing platform operability while expanding partner ecosystems for application development.
ABI attributes the growth in cloud use to new architectural frameworks that enhance data extraction and operability for manufacturers looking to maximize utility from their data.
“Historically, manufacturers have built out their infrastructure to include expensive data housing in the form of on-premises servers,” says James Iversen, industrial & manufacturing technologies industry analyst at ABI Research.
Citation
Control Engineering Europe (2023-08-22)
“Historically, manufacturers have built out their infrastructure to include expensive data housing in the form of on-premises servers,” explained James Iversen, Industrial & Manufacturing Technologies Industry Analyst at ABI Research. “The large initial upfront cost of purchasing, setting up, and maintaining these servers is a selling point for cloud manufacturing providers who beat them out in costs. With low data storage prices, manufacturers who switch to a cloud-based system can see up to 60% reduction in overhead costs relating to data storage.”
Citation
