For most people, artificial intelligence (AI) probably means sci-fi movies featuring robots and computers performing unimaginable human tasks.
While this is partially true, what AI really brings to the table is the ability of machines to perform intelligent tasks. As the challenges facing global decision-makers escalate, there is an urgent need to advance businesses and societies with cutting-edge Technology.
As the world changes at unprecedented speed, organizations need to reengineer and re-engineer the way machines and people work. And AI helps to achieve these goals.
According to Forrester, cognitive technologies like robots, artificial intelligence (AI), machine learning, and automation will replace 7% of US jobs by 2025.
The changing dynamics
The manufacturing sector is characterized by an environment full of uncertainties and developing dynamics. With ever-increasing market volatility, manufacturers need to constantly innovate, adapt and respond to changes in the shortest possible time without compromising the quality of the products and at the lowest possible cost.
The efficiency of a manufacturing system depends heavily on how well manufacturing processes respond to changes. Critical shop floor functions such as production planning and maintenance need to be extremely responsive, and their integration results in an optimal and robust environment for decision making.
AI in manufacturing
AI has applications across a variety of industries, including gaming, banking, retail, commerce and government, and is slowly becoming ubiquitous in manufacturing, making it easier to automate industries.
AI-driven machines are paving an easier path into the future by offering a multitude of benefits – offering new opportunities, improving production efficiencies and bringing machine interaction closer to human interaction.
The Fourth Industrial Revolution is driven by the automation of knowledge-based work; By creating new ways to automate tasks, we can reengineer the way people and machines live and interact to create a better, stronger digital economy.
AI helps address many of the inherent challenges that have plagued the industry: from lack of expertise to decision complexity, integration issues and information overload.
The introduction of AI in manufacturing enables companies to completely transform their processes. Let’s look at what AI is helping manufacturing achieve:
• Process automation: The use of AI and robots is particularly attractive in industrial manufacturing as they revolutionize mass production.
Robots are capable of completing repetitive tasks, streamlining the production model, increasing capacity, developing automation solutions, eliminating human error and providing a higher level of quality assurance.
• 24/7 Production: While humans are forced to work 3 shifts to ensure continuous production, robots can enable a 24/7 non-stop production line. Companies can expand their production capacities and meet the growing demand from customers worldwide.
• Safer working conditions: With more mishaps occurring in manufacturing, a move to AI means fewer people doing dangerous and overly tedious jobs. As robots replace humans and take over mundane and risky tasks, the number of work-related accidents will decrease everywhere.
• New possibilities for humans: As AI takes over the shop floor and automates boring and mundane human tasks, workers will be able to focus on complex and innovative tasks. While the AI takes care of the simple work, humans can focus on driving innovation and taking their business to new heights.
• Reduced operational expenses: Although introducing AI to manufacturing would require a massive capital investment, the ROI is significantly higher. When smart machines start taking care of day-to-day activities, companies can look forward to significantly lower overheads.
advantages
AI and industrial automation have made significant strides in recent years. The development of machine learning techniques, advances in sensors, and growth in computing power have helped create a new generation of robots.
AI helps machines gather and extract knowledge, recognize patterns and learn through machine intelligence, learning and speech recognition and adapt to new situations or environments. With the help of AI, manufacturers can:
• Make faster, data-driven decisions
• Enable better production results
• Improving process efficiency
• Lower running costs
• Enable better scalability
• And facilitate product innovation
Improving business results
The most important driver of the Fourth Industrial Revolution is the speed with which it is taking place. With the Technology now available to us,
businesses (and even industries) can scale in the blink of an eye, ultimately transforming the way we live our daily lives (and in a fraction of the time). With the help of AI, industry leaders and Technology pioneers can create the right platforms and solutions to ultimately improve business outcomes and drive success in today’s ever-expanding digital economy.
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