In this talk, we will be delving into the transformative potential of the amalgamation of Artificial Intelligence (AI) and Internet of Things (IoT) – collectively referred to as AIoT – for manufacturers. In the competitive landscape where products are easily replicated and substituted, there is an exigent need to move beyond traditional functionality-based offerings. This talk will explore how OEMs can harness the power of AIoT to extend the value-add scope of their products, leveraging embedded sensors and data streams to offer advanced services that provide not only intrinsic value but also business insights, process optimizations, and a deeper level of customer engagement. We’ll discuss how these strategic shifts can help manufacturers justify their market position and outmaneuver low-cost competitors, transitioning from a mere component supplier to an integrated system provider, thus driving business resilience and growth.