Discover How Artificial Intelligence is Revolutionizing the Manufacturing Industry
According to a study by McKinsey, two-thirds of companies said one of their highest priorities is to digitize the production value chain. In manufacturing technology, artificial intelligence (AI) has a strong use case to support digital manufacturing goals through connectivity, business intelligence, and automation.
With connectivity, getting the right information to the key decision makers as it occurs is key. For instance, this would be using augmented reality to link up with interactive work instructions and standard operation procedures.
Business intelligence is using advance analytics and AI technology along with large amounts of data to produce insights and drive data-based decisions. For example, business intelligence can identify predictive maintenance by using algorithms to inform users of the next failure in a manufacturing line, machine or component prevents downtime. Long gone are the days of maintenance staff reacting to a product line that is down now that AI is predicting failures. Other AI and machine learning solutions use business intelligence solutions include the production of demand forecasts, and assistance with quality management. Algorithms that link to historical data can drive forecasts, with key metrics covering dates, locations, weather, economic and even political influences.
Lastly, automation via robotic technologies can improve operations overall. This is achieved by increasing the quality and safety throughout production and assembly.
Where Manufacturers Stand
With respondents looking to AI to retain their competitive position in the market, less than half of US-based manufacturers feel they are ahead of competitors. Companies view connectivity, intelligence, and automation as highly relevant in manufacturing technology. Meanwhile those companies implementing at at least a pilot stage lag behind, however more than half of companies are involved in making improvements. Interestingly, US companies are implementing over 8 digital manufacturing solution pilots on average.
To utilize artificial intelligence, companies partner with experts to outline their goals and pain points to identify the most viable path forward. By having a clear roadmap, companies can implement solutions to create and implement the ideal AI solutions, and stay competitive in their industry.