The integration of artificial intelligence (AI) in product design is a rapidly evolving trend, bringing significant changes and opportunities in how products are conceptualized, developed, and brought to market. Consulting firms like Deloitte, McKinsey, and Convergence Consulting have highlighted various aspects and benefits of this integration.
- Generative AI and Foundation Models: Deloitte has established a new practice to help clients harness the power of Generative AI and Foundation Models
. This practice focuses on enhancing productivity and accelerating business innovation. The approach includes developing AI-fueled applications and advising on strategic implementation, leveraging AI for contextual awareness, decision-making, and new business models.
- AI Adoption and Investment Trends: According to a McKinsey Global Survey
, there is a notable increase in the use of generative AI tools in business functions. About one-third of organizations are using AI regularly, and 40% of respondents plan to increase their investment in AI due to advancements in generative AI. High performers in AI are using these technologies more extensively in areas like product and service development, risk and supply chain management, focusing less on cost reduction and more on creating new business models or enhancing existing offerings with AI-based features.
- AI in Product Design: Convergence Consulting
highlights several ways AI is revolutionizing product design in many fields like Generative Design
, Predictive Analytics, Simulation,Multi-Objective Optimization, Sustainability,Data Analysis and Automation:
- Future of AI in Product Design: The integration of AI in product design is expected to continue evolving, bringing new possibilities and innovations in product development. This trend is likely to shape how companies approach design and development in the coming years.
Lets see what comes next...
