Manufacturing industry could improve productivity by 30-40% with better use of data, says automation expert

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Manufacturing could improve productivity by 30-40% with better use of data, says automation expert

Peter Terwiesch, president of ABB's industrial automation business, said that "at least" 80% of data generated is not being utilized by companies.

"You have to contextualize the data before then combining it with smart algorithms, with industrial analytics, with AI , to yield significant productivity potentials. And there's estimates, depending on the sector, of anywhere between 30 even 40% productivity gains that are hidden in that unused data."

"When you can't get what you want, you have to get better at using what you have. So if you can't get people to site … when you can't deliver additional equipment in terms of augmenting your capacity, you have to get better at using what you have, which is your data, which is remote connectivity," he told CNBC.

 

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