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.