GITNUX MARKETDATA REPORT 2024

Ai In The Steel Industry Statistics

AI is expected to revolutionize the steel industry by optimizing processes, improving efficiency, and enabling predictive maintenance.

Statistic 1

"Capgemini's research found that, AI-enhanced predictive maintenance of industrial equipment could potentially save $600 billion by 2025 in the steel industry."

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Statistic 2

"An analysis by the McKinsey Global Institute found that nearly 70% of companies in the steel industry are piloting the use of AI in some form."

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Statistic 3

"Accenture reports that nearly two-thirds of industrial firms in the steel industry are planning to implement AI within the next three years."

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Statistic 4

"A study by PwC found that 80% of leaders in industrial manufacturing, including the steel industry, expect their workforce and machines to be digitally connected by AI by 2020."

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Statistic 5

"According to Boston Consulting Group, using AI models in the steel industry can improve yield predictions by up to 3%."

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Statistic 6

"A report by Steelcase found that AI technology used in the steel industry has experienced a growth rate of about 14% since 2017."

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Statistic 7

"According to McKinsey, AI-based forecast improvements in the steel industry could result in a 2% to 3% reduction in raw materials cost."

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Statistic 8

"IDC reports that 30% of G2000 companies will have AI embedded within their supply chain operations by 2022, impacting various sectors, including the steel industry."

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Statistic 9

"A report by Forrester found that AI can help identify energy waste and inefficiency in the steel industry, potentially reducing energy costs by up to 20%."

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Statistic 10

"KPMG estimates that by 2022, more than half of all additional investments in the manufacturing sector, including steel, will be focused on applications that enhance intelligence and predictability."

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Statistic 11

"ABI Research predicts that by 2023, over 20% of the global industrial base in sectors like steel would use AI technology for maintenance purposes."

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Statistic 12

"Tekla notes that integrating AI with Building Information Modelling (BIM) could help reduce steel wastage by 15-20% in constructions."

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Statistic 13

"Deloitte projects that by 2021, 20% of large manufacturing firms, including those in the steel industry, will have integrated AI with their industrial safety systems."

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Statistic 14

"A study by Accenture shows that AI could potentially increase profitability rates by over 38% in the steel industry."

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Statistic 15

"According to Infosys, 70% of manufacturing firms, including steel industry companies, will invest in AI-powered predictive analytics by 2025."

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Statistic 16

"McKinsey Global Institute estimates that AI could potentially unlock $13 trillion in global economic activity by 2030, with its application in various industries, including steel."

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