As companies strive for competitive advantage in the rapidly evolving business world , the impetus for integrating AI and automation stems from their proven impact on revenue growth and profitability enhancement , transforming how organisations deliver value , says Vijay Jaswal at IFS .

Vijay Jaswal , Chief Technology Officer , APJ and MEA , IFS

Currently , 28 % of organisations are leveraging AI to fast-track their move towards servitisation , aiming to boost operational efficiency in the process . As companies strive for competitive advantage in the rapidly evolving business world , the impetus for integrating AI and automation stems from their proven impact on revenue growth and profitability enhancement , transforming how organisations deliver value to their customers at the same time .

Leaders across industries recognise the pivotal role AI must play as the foundation of a servitised approach . That is something vendors are increasingly seeing influencing the investments their customers make in technology .

The research underscores the high demand for AI technology , with 52 % of respondents recognising they must implement it , and an additional 40 % acknowledging they could or should do so . Automation is not far behind , with 51 % of participants identifying it as a necessary implementation and 41 % considering its potential adoption .

Supporting technologies also play a crucial role . The significance of interoperability and integration is widely recognised , with 46 % of respondents emphasizing the need for end-to-end business connectivity . Moreover , Enterprise Asset Management , EAM is highlighted as a critical area , with 40 % of respondents committed to its implementation and another 50 % recognising that they could or should consider its integration .

However , the overriding focus on AI and automation makes sense for businesses today . AI has become a cornerstone of the shift towards servitisation thanks to its ability to enhance customer-centric services . Across asset-intensive industries from heavy manufacturing to oil and gas and utilities , for example , we are seeing growing use of enterprise simulation , an approach that is increasingly supported by the use of AI-driven digital twin technologies .

Enterprise simulation can be conducted either at business-wide , or a functional level to ascertain strategy , next steps and action required based on a moving landscape .

In the former case , an energy company might , for instance , decide to conduct

A study by IFS reveals 43 % of senior leaders consider the shift to a servitised business model a high priority , and it is AI and automation that is emerging as the key drivers .

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