The report, conducted by Plant Services, compares year-over-year insights from manufacturers, highlighting persistent workforce concerns and increased optimism in production
NEW YORK, August 7, 2024 — Augury, a leading provider of AI solutions that help industrial and manufacturing companies increase their productivity, efficiency, and reliability, today released its 2024 Machine Health Is Business Health report from Plant Services, which outlines challenges, risks and preferred solutions in maximizing machine health and mitigating unplanned downtime. The report builds on year-over-year findings, featuring insights from more than 200 manufacturing professionals from both corporate and plant-level career paths.
“Our latest report uncovered that only 14% of manufacturers deploy prescriptive asset maintenance while the vast majority succumb to reactive approaches,” said Saar Yoskovitz, co-founder and CEO of Augury. “At the same time, the manufacturing industry is facing a growing talent gap that will continue to widen as tenured industry stalwarts march quickly toward retirement. A catastrophic downtime event should not be what propels these leaders into the AI era. The adoption of AI-driven machine health technology can ensure that manufacturers are as efficient as possible with the skilled talent they have, enabling them to be strategic and proactive in their decisions to eliminate downtime.”
Industrial sector competitiveness–if not business viability–demands that manufacturers embrace purpose-built AI technology in their plants. The industry is beyond the point of ‘wait and see.’ Leading manufacturers are adopting advanced technologies, gaining ROI, and seeing operational value: the ability to minimize costly downtime, preserve industry knowledge, and streamline operations has a real and direct impact on their overall business performance.
To help industrial leaders drive success, the 2024 Machine Health Is Business Health report is broken into three standout parts, including:
- The top manufacturing challenges for 2024 through the eyes of the plant floor and corporate office
- Production roadblocks and risks, including a significant year-over-year increase in labor-resource risk
- The current state of maintenance and which approach ranks first for manufacturers
Download a free copy of 2024 Machine Health Is Business Health. For more tips on machine health and information about Augury’s solutions, visit https://www.augury.com/.
About the 2024 Machine Health Is Business Health Report
Conducted in February 2024 by Plant Services and commissioned by Augury, the 2024 Machine Health is Business Health report utilizes insights from 224 qualified respondents. The survey included questions asked of all respondents as well as some segmented into a “plant path” or “corporate path” based on job responsibilities. The wide-ranging industries represented span the energy, utilities, process manufacturing, and discrete manufacturing sectors. Most of the companies have 1-5 manufacturing facilities (65%), while 18% have more than 20 manufacturing facilities.
