All this week, our daily charts will focus on one of the hottest topics in business: AI. We’ll take a closer look at the technology’s implications for growth, industries, the workforce, and more.
The automotive sector is one of several large industries that are poised to generate as much as one-third of sales from new products in the next few years. Getting there means turning to AI and machine-learning (ML) technologies, according to associate partner Jan Paul Stein and coauthor. The auto industry is ahead of its peers: in a survey, respondents from the automotive sector were 1.6 times as likely as those from the machinery sector to use AI/ML-based simulations.
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A horizontal bar graph displays the percentage usage of AI and machine learning across 5 industries. The automotive industry takes the lead with 76%, followed by aerospace and defense at 59%, the basic materials industry at 58%, medical devices at 50%, and the machinery and fabricated metals industry at 47%. Simulation users in the automotive industry are 1.6 times more likely to employ AI and machine learning compared with their counterparts in the machinery industry.
Source: NAFEMS.
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To read the article, see “Unveiling the next frontier of engineering simulation,” June 21, 2023.