Study shows 5G with AI and IoT adds business value
UL Solutions, a global leader in applied safety science, released findings from its survey of 300 global manufacturing executives today. The report, The Power And Promise of 5G Integration For Manufacturers, reveals that 5G private networks are most effective when integrated with other technologies associated with digital transformation, such as artificial intelligence (AI) and the Internet of Things (IoT).
“The evidence from this study strengthens the argument that the power of 5G can be fully harnessed when integrated with other advanced technologies and innovations. A comprehensive approach to technology integration that combines 5G with technologies like edge computing, cloud computing, IoT, and AI can lead to significant benefits for manufacturers,” says Maan Ghanma, director of Smart Solutions in the Consumer, Medical and Information group at UL Solutions.
The findings are based on the survey of 300 executives and insights from senior managers and executives, including those from Siemens, GE, AT&T, Audi, ABB and Bosch. Among the highlights:
- 5G implementation is in the early stages for most manufacturers, but 86% are already experiencing a wide array of benefits, mainly around efficiency and decision-making.
- 5G integration is yielding better results. Almost one-third of survey respondents say they can deploy other technologies faster or are making better business decisions now, and one-quarter are making even better use of 5G than anticipated.
- Most respondents are implementing 5G using an integrated approach with multiple other technologies. Artificial intelligence is the leading technology being integrated.
- The most crucial external value driver from 5G implementation over the next two years is accelerating innovation in collaboration with business partners.
- The biggest business opportunities afforded by 5G over the next two years are to enhance supplier networks, cut employment costs through automation and connect more effectively with production facilities worldwide.
“5G networks are a fundamental part of industrial transformation that will accelerate changes to manufacturing and open up a wide range of business opportunities, as well as some new challenges,” says Nigel Holloway, editorial director of Newsweek Vantage.
The survey was conducted for UL Solutions by Newsweek Vantage in the Americas, Europe and Asia in September 2022. Two-thirds of the 300 respondents are C-level executives (60%), board members (7%) and vice presidents and above (33%) of a manufacturing company. Functions represented in the survey include information technology (66%), general management (22%) and 15% each in operations and supply chain management. Major sectors represented include electronics equipment (35%), automotive (25%) and industrial equipment (24%).
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