Embracing AI in Manufacturing: A Key to Staying Ahead of the Competition
Aravind R.
CTO @Yavar.AI | Helping You Sky Rocket Your Business with AI | Sharing Insights On AL, ML, Cyber Security, & Leadership
As the demand for increased productivity, efficiency, and quality continues to grow, many manufacturing companies are turning to Artificial Intelligence (AI) to achieve these goals. AI has the potential to revolutionize the way manufacturing companies operate by improving production processes, reducing downtime, and increasing the accuracy of quality control.
Two problems arise with this approach:
With machine learning AI systems, a manufacturing company can boost overall productivity, keep all the details of the processes in-house, and at the same time diminish workforce budget. In addition, other applications provide the following benefits:
Much of the modern equipment sends a vast amount of information to the cloud. However, this data can often be of different types and is incompatible. Consequently, human operators must be highly qualified for inventory management to monitor several dashboards and understand the whole picture. AI applications can pull data from the internet-connected equipment and make a clear view of the operations.
Furthermore, this technology allows a variety of automation. For example, the system can alert supervisors when equipment operators show fatigue signs. Likewise, in case of a piece of equipment breakage, the system can not only notify supervisors but also automatically activate emergency plans.
2. AI Based Connected Factory
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2. AI in Logistics
Manufacturers can sometimes reduce dependency on distant but cheap manufacturing facilities. AI in manufacturing can solve the logistic problem by producing serial parts in-house or at near-shore facilities with 3D printing, thus, managing inventories more efficiently.
2. AI for Predictive Maintenance
Predicting and reducing failures can yield significant cost savings. McKinsey claims that predictive maintenance is AI’s most significant value in manufacturing, which accounts for $0.5-$0.7 trillion in value worldwide.
AI uses vast data provided by sensors; this is the part of IoT (internet of things), the technology that connects and exchanges sensors’ data with other devices and systems via communication networks.
Final Thoughts
Finally, supply chain optimization using AI can help manufacturing companies to better manage their inventory levels, reduce lead times, and improve customer satisfaction. By analyzing historical data, AI can predict demand and optimize inventory levels, resulting in better use of resources and reduced costs.
As the manufacturing industry continues to evolve, companies that embrace AI and other advanced technologies will gain a competitive advantage. Join the AI revolution and stay ahead of the curve!