Augury’s Saar Yoskovitz returned to the New York Stock Exchange’s Floor Talk to update the audience on the current state of Industrial AI, the need to shift the focus from Generative AI to Reliable AI, and how implementing digital tools needs to be backed by impact and cultural change.
Time To Rethink The Manufacturing Toolbox
“The manufacturing leaders we work with understand that the tools they used to have in their toolbox are no longer available,” says Saar Yoskovitz, Augury’s Co-Founder and CEO, during an interview on NYSE Floor Talk.
“Manufacturers can no longer just offshore to China because of geopolitical issues. They can’t just hire more people because skilled talent is very hard to find. They can’t raise prices because of the economy and consumer pushback. And at the same time, there is increased scrutiny around sustainability, from both the consumer and regulations.”
In other words, more and more manufacturers are investing in AI and other digital tools to attain their productivity and business goals. In this process, the question becomes: “How do we leverage new technologies to create real business impact and fundamentally change how our teams are structured and organized?”
Talking Innovation
Judy Khan Shaw hosts Floor Talk, a taped interview segment from the New York Stock Exchange. The show is renowned for allowing innovative business leaders to discuss timely topics, initiatives, and milestones.
After his first appearance in March 2023, Saar returned in November 2024 to discuss how manufacturing and industrial AI have evolved over the last 18 months since his previous visit.
Three Insights Into Why Industrial AI Is On The Rise
According to Saar, Generative AI is coming out of its hype cycle, and expectations are coming back down to earth along with it. And there’s three reasons for this:
1) The Understanding That AI Is A Tool, Not An Outcome
“You must begin with the business outcome or impact that you want to solve for, and then walk it back to find the right tool or technology they need to use to get there,” says Saar.
2) There Is No Room For Mistakes – Especially In Manufacturing
The large language models behind GenAI are known for their hallucinations – which is not ideal for making life-and-death decisions that involve safety. “The algorithms and models must be trained with the relevant domain expertise. This is what we call Reliable AI, not Generative AI. For example, our models and algorithms have been trained on over half a billion hours of machines we’ve monitored. So, real-life machine behavior is fed into the model to create the best outcome for the user.”
3) Digital Transformation Is Also About Cultural Transformation
“How is this technology being used at the end of the day? We talk about copilots and AI agents, but do they actually impact the day-to-day life of a maintenance technician or an operator?” In other words, tech is useless if it isn’t used by the users to its true potential. Hence, a change in tech involves a corresponding change in culture. “And I think that’s crucial as we implement more and more technologies,” says Saar.
Looking Ahead To 2025
“From a macro perspective, the industrial market’s headwinds will remain,” according to Saar. “So, how do we leverage technology to overcome them? I really believe the opportunity is greater than the challenges.”
