Use of the technology is picking up pace
Photograph: Siemens
Across the world, most businesses are still merely dipping their toes in artificial intelligence. Not so Schneider Electric, claims Peter Weckesser, who oversees the digital efforts of the French maker of industrial equipment. It has around 100 applications of the technology already in operation. Morgan Stanley, an investment bank, reckons that these will result in around €400m ($470m) in annual savings for the company this year. That amounts to less than 1.5% of its total costs. But Mr Weckesser has his sights set much higher. Eventually, he declares, “there will be not a single product or function at Schneider Electric that will not be affected by artificial intelligence.”
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