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Artificial Intelligence

Artificial Intelligence (AI) in Manufacturing Market Size To Hit USD 68,360 Million By 2032

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Ottawa, July 14, 2023 (GLOBE NEWSWIRE) — The global artificial intelligence (AI) in manufacturing market size was valued at USD 3,800 million in 2022. Artificial intelligence (AI) in manufacturing units is adopted to avoid manufacturing stoppages. In the manufacturing sector, artificial intelligence has numerous applications. Such applications can be generalized as smart production, business operations, supply chain, and decision-making. The penetration of artificial intelligence in the manufacturing sector enhances the quality of production planning, supply chain management, and overall operation management at the firm. Manufacturing firms that carry research and development programs can save time and cost consumed by traditional operations processes with the help of artificial intelligence.

Artificial intelligence (AI) in manufacturing market is accelerating with the deployment of advanced technological solutions such as analytics, augmented reality, virtual reality, smart packaging, and additive manufacturing in manufacturing units. Industries that are currently experiencing their digitization journey are expected to adopt AI-based services in the upcoming period. Resilience and demand for sustainable solutions for manufacturing firms are crucial factors that supplement the growth of AI in the manufacturing market.

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Key Insights:

  • North America captured the largest market share in 2022.
  • Asia Pacific is expected to grow at a remarkable CAGR between 2023 and 2032.
  • By Offering, the software segment contributed more than 32% of revenue share in 2022.
  • By Technology, the computer vision segment is expected to expand at the fastest CAGR from 2023 to 2032.
  • By Application, the predictive maintenance and machinery inspection segment is estimated to hold a significant share of the market between 2023 to 2032.
  • By Industry, the medical devices segment is predicted to record the largest share of the market between 2023 to 2032.

Regional Snapshot:

Asia Pacific is expected to witness noticeable growth with the rapidly growing penetration of advanced technologies in manufacturing firms. Countries such as China, Japan, and India are focusing on expanding their manufacturing efficiencies; this highlights the market growth in the region. The technological forefront countries in Asia Pacific are witnessing an automation shift in the manufacturing sector; this will promote the penetration of AI for the same.

For instance, the Indian government has launched a ‘Made in India’ program to support domestic manufacturing for possibly every industry. This program is expected to boost the demand for advanced solutions for managing operations at manufacturing firms in the country in the upcoming period.

Europe is another attractive marketplace for artificial intelligence in the manufacturing sector. The region is one step ahead in the adoption of Industry 4.0, which focuses on the integration of advanced technologies into manufacturing processes. Increasing demand for smart manufacturing from multiple industries in Europe plays a significant role in the growth of the market in the region.

Moreover, the rapid adoption of robotics and automation, especially by the machine manufacturing and automotive industries, is observed to supplement the growth of the European market. Germany is at the forefront of the deployment of AI in numerous industries. The PwC report stated that AI in industries is observed to boost the GDP of Germany by 11.3% by 2030. In addition, the potential end users that show a willingness to invest in AI for the production process are observed as an asset for the market’s growth in Europe.

Report Highlights:

  • By offering, the software segment will continue to sustain its position during the forecast period. Software solutions in the manufacturing sector can be customized to meet specific requirements; this enables manufacturers to penetrate AI technologies without a major change in the traditional infrastructure of the unit. This element supports the growth of the segment in the market.  
  • By technology, the machine learning segment is expected to grow at a noticeable rate during the forecast period due to its data-driven decision-making capabilities. Machine learning leverages vast data for informed decision-making and predictive analytics.
  • By application, the production planning segment is expected to be the lucrative segment of the market. Artificial intelligence facilitates more accurate and data-driven production planning, which leads to improved operational efficiency, enhanced customer satisfaction, and increased competitiveness in the market.
  • By industry, the electronics segment is expected to witness significant growth during the forecast period. The electronics industry across the globe is witnessing a substantial boost with the rising demand for portable electronic devices. The industry is characterized by complex manufacturing processes which often require defect detection, process optimization, and inventory management. AI in manufacturing units of electronics is capable of producing solutions for all such requirements by combining accurate formulas for growth and innovation; this highlights the development of the segment in the market.  

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Scope of this report

Coverage Details
Growth Rate from 2023 to 2032 CAGR of 33.5%
Market Size in 2023 USD 5,070 Million
Market Size by 2032 USD 68,360 Million
Base Year 2022
Forecast Period 2023 to 2032
Largest Market North America
Fastest Growing Market Asia Pacific
Segments Covered By Offering, By Technology, By Application, and By Industry
Key Players Mitsubishi Electric Corporation, NVIDIA Corporation, Intel Corporation, Siemens AG, International Business Management Corporation, Oracle Corporation, Robert Bosch GMBH, Cisco Systems Inc. and others

Market Dynamics:

Driver: Increasing demand for customized products from various industries

Algorithms in artificial intelligence are expected to offer accurate and more effective solutions for manufacturers that offer customized products. Customized products cater to specific customer preferences, leading to a more personalized and engaging customer experience. AI technologies, such as natural language processing and recommendation systems, can understand customer preferences, suggest personalized options, and provide interactive interfaces, enhancing the overall customer experience. AI can enable manufacturers to gather real-time feedback from customers regarding their customized products. The combination of services offered by artificial intelligence for the customization of products at manufacturing units is observed to boost the growth of the market.

Restraint: High investment cost

AI systems rely on large volumes of data to train and improve their performance. Collecting and managing data from various sources within the manufacturing environment can be costly. Companies need to invest in data storage infrastructure, data acquisition tools, data cleaning, and data governance practices to ensure the quality and reliability of the data. Implementing AI technologies in manufacturing requires a robust infrastructure, including high-performance computing systems, data storage, and network capabilities. Setting up and maintaining this infrastructure can be expensive, especially for small and medium-sized manufacturers with limited resources. The initial investment cost for infrastructure acts as a barrier for these companies to adopt AI solutions, which acts as a significant restraint for the market’s growth.

Opportunity: Penetration of coordinated robots in manufacturing firms

Coordinated robots, often known as ‘cobots’ are becoming popular with technological advancements across the globe. Such robots are developed to work with humans with proper coordination in manufacturing industries. This capability required from the coordinated robots can be achieved by penetrating AI algorithms that offer computer vision and deep learning. AI algorithms can successfully detect and analyze data by making real-time decisions to train cobots in manufacturing sectors. As industries shift towards automation with the help of cobots, there will be significant opportunities for AI in the manufacturing market.

Challenge: Data complexities

  • In manufacturing, data quality can be a significant issue. Data may contain errors, inconsistencies, or missing values. For AI algorithms to provide accurate results, the data used for training and inference must be reliable and high-quality. Inaccurate or incomplete data can lead to biased models and incorrect predictions, which can have adverse effects on manufacturing processes and decision-making. AI algorithms require large and diverse datasets to effectively learn and make accurate predictions. Insufficient or poor-quality data can hinder the development and performance of AI systems.

Related Reports:

  • Enterprise Artificial Intelligence (AI) Market: The global enterprise artificial intelligence (AI) market size reached USD 16.81 billion in 2022 and is projected to hit around USD 102.9 billion by 2030, growing at a CAGR of 47.16% during the forecast period from 2022 to 2030.
  • Artificial Intelligence (AI) Market: The global artificial intelligence (AI) market size accounted for USD 69.25 billion in 2022 and is estimated to reach around USD 1,871.2 billion by 2032, growing at a CAGR of 39.1% from 2023 to 2032. The North America artificial intelligence market was valued at USD 30 billion in 2022.
  • Artificial Intelligence (AI) Chip Market: The global artificial intelligence (AI) chip market size reached USD 16.86 billion in 2022 and is predicted to reach around USD 227.48 billion by 2032, expanding at a CAGR of 29.72% from 2023 to 2032.

Recent Developments:

  • In March 2023, a globally prominent provider of 3D printing software and other services, Materialise announced the release of its process control software for metal 3D printing and other developmental purposes. The AI-based solution for 3D printing purposes is expected to reduce the time consumed for 3D printing by avoiding errors.
  • In April 2023, Databricks announced the launch of Databricks Lakehouse for manufacturers. The platform is designed for manufacturers with pre-built artificial intelligence-based solutions along with a wide range of applications. Giant players across the globe including DuPont, Honeywell, Rolls Royce and Shell adopted the platform created by Databricks.
  • In May 2023, the Ministry of Electronics and IT, India announced the launch of world’s first smart manufacturing competency center in Ahmedabad under a strategic collaboration with the government of Gujrat. The center aims to utilize AI, AR, analytics and VR solutions for multiple purposes.

Market Segmentation:

By Offering

  • Hardware
  • Software
  • Services

By Technology

  • Machine Learning
  • Context Awareness
  • Natural Language Processing
  • Computer Vision

By Application

  • Process Control
  • Quality Control
  • Logistics and Inventory Management
  • Predictive Maintenance and Machinery Inspection
  • Production Planning
  • Others 

By Industry

  • Automotive
  • Medical Devices
  • Semiconductor and Electronics
  • Energy and Power
  • Heavy Metal and Machine Manufacturing
  • Others

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

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Artificial Intelligence

Picus Security Launches Security Validation for Kubernetes

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Teams can eliminate container security exposures with the new enhancements in Picus’ platform for multi-cloud
SAN FRANCISCO, May 23, 2024 /PRNewswire/ — Picus Security, the Security Validation company, today announced security validation for Kubernetes. This new capability allows Security and DevOps teams to realize the benefits of containers securely by proactively measuring and optimizing the resilience of clusters. It is the latest innovative addition to the Picus Security Validation Platform, which empowers users to consistently validate their security posture and measure risk across on-premises and multi-cloud environments.

For organizations that want an agile way to deploy, run and scale applications, Kubernetes offers considerable benefits. However, security is often the biggest barrier to its adoption. The dynamic and complex nature of Kubernetes means that containers are often misconfigured due to human error. Without a hands-on approach to governance, security gaps can easily emerge over time, increasing the risk of incidents. This situation is exacerbated by the high level of expertise required to secure Kubernetes and the use of default settings which are inherently insecure. According to The State of Kubernetes Report, more than two-thirds of Kubernetes users (67%) have delayed deployments due to security concerns.* 
The addition of Kubernetes validation extends the Picus platform’s existing validation capabilities, which are powered by attack simulation and GenAI. It enables organizations to proactively identify and mitigate security misconfigurations, such as weak policies and settings that could allow containers to run with insecure privileges and facilitate lateral movement. Now security teams can automatically assess the security of their workloads wherever they are located – on-premises, in containers, and also in cloud platforms including Amazon Web Services, Google Cloud Platform, and Microsoft Azure.
“Cloud security is perhaps the biggest barrier of entry for organizations that want to take advantage of container orchestration,” said Volkan Erturk, Picus CTO and Co-Founder. “Kubernetes offers incredible opportunities for DevOps teams to deploy and scale new applications, but Security teams can struggle to keep pace.
“With the Picus Security Validation Platform, security concerns won’t slow down an organization’s digital transformation journey. This new offering will allow our users to consistently measure the security of their workloads and vastly reduce the effort needed to address exposures across growing IT environments.”
Additional Information
Read the Kubernetes validation announcement blog.Register for the upcoming webinar on July 11th 2024 at 10.00 EST/ 15.00 BST: Beyond Cloud Security Posture Management: Validating Cloud Effectiveness with Attack Simulation About Picus Security
Picus Security helps security teams consistently and accurately validate their security posture. Our Security Validation Platform simulates real-world threats to evaluate the effectiveness of security controls, identify high-risk attack paths to critical assets, and optimize threat prevention and detection capabilities.
As the pioneer of Breach and Attack Simulation, we specialize in delivering the actionable insights our customers need to be threat-centric and proactive. 
Picus is a Gartner® Peer Insights™ Customers’ Choice for 2024 in the BAS tools category†. The company is recognized as a leader by Frost & Sullivan^.
† Gartner, Voice of the Customer for Breach and Attack Simulation Tools, Peer Contributors, 30 January 2024 ^ Frost and Sullivan, 2022 Frost Radar™ report for the Global Breach and Attack Simulation Market
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Artificial Intelligence

Highlights from the Finale: Day Three of the London Blockchain Conference Unravelled

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As the London Blockchain Conference draws to a close, attendees heard from industry experts on Driving Innovation with Blockchain.
LONDON, May 23, 2024 /PRNewswire/ — Attendees at the London Blockchain Conference were in to witness the final day, which featured a line-up of informative and thought-provoking speakers. Throughout the day, there were exciting panels and presentations which featured cutting-edge ideas and insights.

Day 3 kickstarted with BSVA launching a new report focusing on the role of blockchain in safeguarding data and streamlining transactions.
Other sessions included:
The Intersection of Web3, AI, and Emerging Tech – Somi Aran, Founder of InPeak gave the opening keynote which explored the dynamic convergence of Web3, Artificial Intelligence, and emerging technologies. She delved into how these technologies are reshaping industries and redefining the boundaries of innovation and the potential impacts and opportunities these technologies present.
Bridging the gap: Making Web3 technologies user-friendly – Christine Leong, CIO, nChain – discussed some of the innovative strategies and practical solutions aimed at simplifying Web3 technologies. She also discussed how nChain is planning to transform Web3 from a domain exclusive to the tech-savvy, into a user-friendly ecosystem that empowers all users.
Is code law? – Rules applicable to blockchain networks – panel featuring Marcin Zarakowski, CEO of Token Recovery, Akber Datoo CEO of D2 Legal Technology, Jeffrey Golden, King’s Counsel (Hon) at 3 Hare Court Chambers, Andrei Kirilenko, Professor of Finance at Cambridge Judge Business School, Professor Sarah Green, Law Commissioner at Law Commission, where they discussed that rules apply to the nodes and validators which support the particular network and process its transactions. The group also discussed whether the blockchain protocols’ rules and software code are the only sources of regulation in blockchain networks.
An Introduction to nChain Identity – Thomas Moretti, Head of Product Development at nChain. He spoke about the Self Sovereignty Identity concept and showcased the latest project it is working on – nChain Identity.
Reimagining Roles: How regulated industry leaders are shaping the future of finance – a panel featuring, Andrew Mosson (Chief Commercial Officer of OneTrading, Néstor Palao, Head DLT & Corporate Clients at Sygnum Bank, Laurence Lewandowska, CFO/COO at BSV Association and Wojciech Kaszycki Chairman & Founder at Mobilum. The panel discussed how the new era of digital assets, traditional banking institutions, exchanges, and financial services are being reimagined in the context of emerging technologies such as blockchain and AI.
Please register here if you would like to listen to any of the sessions today. 
If you want to interview any speaker from today’s sessions, please email [email protected].
About the London Blockchain Conference NETWORK. LEARN. ENGAGE.  At the London Blockchain Conference, we show how Blockchain will change the world and help people see another way to manage data, build scalable on-chain solutions and achieve great things. We do this by creating valuable, insightful, and engaging events that educate and inform, allowing you to connect and network to build strong business relationships. Our conference is the best avenue to see blockchain innovations, ecosystem announcements, product launches, technology updates, keynote speeches, panels, and fireside chats from blockchain leaders. Join us and experience it for yourself. 

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Nord Anglia Education publishes new insights on the role of AI and metacognition in learning

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LONDON, May 23, 2024 /PRNewswire/ — INSIGHTS, the global publication from Nord Anglia Education, has published two new articles taking an in-depth look at AI in education and the role of metacognition in teaching and learning.

Exploring the role of AI in learning
https://www.nordangliaeducation.com/insights/2024/articles/the-generative-generationIn its ‘Generative Generation’ feature, INSIGHTS explores the role of artificial intelligence (AI) in education, and whether the technology is making it easier for children to learn. Speaking to Nord Anglia’s educators as well as leading experts from the world of academia, it also includes real-life examples of how Nord Anglia’s schools are using AI in the classroom.
For example, Nord Anglia’s British International School in Kuala Lumpur has adapted the technology to create an AI-powered teaching assistant that can personalise learning, guide students through content exploration, and deepen their understanding through interactive activities. Learners define the topic they want to explore and the course specification they are working to, and the AI explores the content with them in a conversational way, enabling them to ask questions as they go. 
Dr Bruce Geddes, Deputy Head of Secondary at the school, told INSIGHTS that AI represents “the biggest opportunity we’ve had in our lifetimes, for many, many spheres, but particularly in education”.
Avenues: The World School in New York, which became part of Nord Anglia in 2023, encourages its students to use AI in their work. As an example, in an app development project students use ChatGPT to generate the bulk of the coding, then review, correct and refine it. This saves them “hours of manual work by leveraging the appropriate tool in an academically appropriate way,” says Lia Muschellack, Director of Technology at the school.
The school also has its own generative AI chatbot, Savvy, built in 2019 and now powered by open AI technology. It can answer queries, provide information, and engage in “diverse discussions ranging from academic topics to casual conversations”.
“We understand that our students will be actively leveraging these tools throughout their academic and professional pathways, so we want to make sure they not only understand the potentials and limitations, but that they have tinkered and truly experienced them,” Muschellack explains.
Metacognition: a learning superpower
In its feature ‘Metacognition. Helping Kids Unlock the Power of ‘Thinking about Thinking’, INSIGHTS looks at how students can develop the important skill of metacognition.
“Metacognition is the ability to be aware of our cognitive or thought processes and to monitor, reflect on, and change those processes,” Dr Rose Luckin, Professor of Learner Centred Design at the University College London Knowledge Lab, told INSIGHTS.
Nord Anglia Education is working with Dr Luckin to develop its approach to metacognition and to help teachers introduce metacognitive strategies into classrooms. It has developed a metacognitive framework of six “Learner Ambitions” to help students develop the 6 Cs: to become critical, creative, committed, and curious learners, working compassionately and collaboratively in the classroom and beyond.
As the article explains, Nord Anglia’s deep dive into metacognition has many goals: developing student agency, boosting academic performance, and developing ‘future’ skills that employers want. The framework is being initially applied across 27 Nord Anglia schools around the world and its impact will be measured in independent research in partnership with Boston College, reporting in 2025.
Nord Anglia’s examination of metacognition also involves exploring personalised goals and thinking routines. For instance, students at Nord Anglia International School Hong Kong use the “Step In, Step Out, Step Back” routine to develop empathy and understanding in their studies. “It’s about asking the right questions; those really big questions that lead to even more questions,” says Raquel Thomson, the school’s Deputy Head of Primary. “Thinking strategies like this stay with students and serve a purpose whatever they do in their lives, whether they choose to be a scientist or a teacher or go into business.”
For media enquiries please contact: Francesca Milani Communications Manager, Digital Education Portfolio +44 20 7131 0000 [email protected] 
About Nord Anglia Education:
As the world’s leading international schools organisation, we’re shaping a generation of creative and resilient global citizens who graduate from our schools with everything they need for success, whatever they choose to be or do in life.  
Our strong academic foundations combine world-class teaching and curricula with cutting-edge technology and facilities, creating learning experiences like no other. Inside and outside of the classroom, we inspire our students to achieve more than they ever thought possible.  
No two children learn the same way, which is why our schools around the world personalise learning to what works best for every student. Inspired by our high-quality teachers, our students achieve outstanding academic results and go on to study at the world’s top universities.  
To learn more or apply for a place for your child, go to nordangliaeducation.com.
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