Today, let’s take a peek at the exciting advancements that are being brought to the table by the much-anticipated technology of artificial intelligence (AI). With businesses flourishing tremendously and new technologies getting incorporated into the system every day, the art of manufacturing has come a long way, with AI overseeing the processes at every step along the way.
The integration of AI into industrial processes such as manufacturing has incredibly increased the quality of work and efficiency, earning extra credit for productivity and innovation. Industrial manufacturing environments in the present scenario call for teamwork between manpower and machine power. With loads of data generated via the Internet of Things (IoT) and smart factories, machine assistance is imperative in carrying out effective analysis of the data and arriving at constructive decisions. Machine intelligence provides better forecasting and potential insights for decision-making, bringing in less material waste and more productivity within the industry.
AI AND ITS RECENT TRENDS IN MANUFACTURING
By 2025, the market for AI in the industrial sector is anticipated to be larger than USD 2 billion, growing by an average of more than 40% per year from 2019. With more and more trends coming in, the demand for AI-powered technologies inside the manufacturing industry is expected to increase multifold in the coming years, with numerous applications in areas such as smart production, products and services, business management, decision-making, and supply chain.
Predictive maintenance is one of the most sought-after AI-powered facilities that industries crave! Machines with their more than average IQ can precisely predict the future of almost all the processes carried out within an industry, like when that particular drill machine will yield to a maintenance issue or much worse! Foreseeing such issues could alert the operators, allowing them to investigate maintenance and avoid the resulting time and money losses.
Data from various sources, such as inventory levels, demand, and supplier performance, is analyzed by AI algorithms for better management of the supply chains. Qualitative analysis of the generated data equipped AI with enough information to forecast possible logistics downfalls and weather disruptions, allowing people to deal with their supply chains accordingly and thereby remain well planned.
Robotic process automation is yet another trend on the rise, with AI-powered robots performing tasks that are tedious and dangerous for humans. In today’s factories, industrial robots equipped with machine vision are common, moving around precisely and performing tasks such as material assembly, quality control, and resource management. Quality control is a must when it comes to the manufacturing industry. No one wants to distribute defective products and tamper with their own goodwill. AI, with its developed algorithms, can analyze potential data and cite defects, bringing in effective damage control.
AI also helps in product design, allowing the designers to capitalize on peripherals such as cost, weight, or performance. AI-powered technologies have the capacity to provide multiple designs, improving on the initial one and helping the designers pick the most efficient of the lot by comparing and contrasting the possible design outcomes generated by the AI.
Ai can also help with streamlined order management by keeping a regular tab on the inventory and differentiating the various purchase orders, making the supply smooth and hassle-free. AIOps, a term that was brought to life by Gartner, incorporates AI into IT operations, boosting the speed at which businesses can be run. AI in IT operations can help with automating processes, improving quality control, predicting anomalies and downfalls, and other factors that could fiddle with the status quo of any business.
Lastly, there is the matter of cyber security. With consumer interests and needs reaching new heights on a daily basis, the market is expanding exponentially, as is the business involved. Security breeches and lockdowns of systems, even for a small amount of time, can adversely affect the profit. Hence, installing security walls powered by AI strengthens the face of the industry.
According to technology trends, more businesses will invest in hybrid technology systems to undertake predictive maintenance, forecast sales and prices, and optimize production, costs, inventory, or quality control. Businesses are less willing to invest in technology that has a specific purpose, such as expert systems, robot localization, and visual surveillance.
The potential held by AI in the manufacturing industry is massive and exciting. Technologies are bound to excel in the future with more skilled minds driving in with new ideas and aspirations. Integrating AI easily into your business will only make your job more enjoyable. With adequate investment in AI, the world itself could change on a technological axis of productivity. It’s time to truly rely on the shoulders of AI researchers and machine learning experts.