Artificial Intelligence is ubiquitous and streamlining rapidly across various industry sectors. Talking about the manufacturing industry, this advanced and futuristic technology remains instrumental in bringing a massive transformation.
Simply put, manufacturers can improve operations while minimizing downtime and predicting maintenance needs effectively. As a vital constituent of digital transformation solutions, AI impacts a lot on the manufacturing sector.
As per a survey, spending on AI in the manufacturing industry is expected to reach USD 16 billion by 2026 with a remarkable CAGR of 57 percent. In this post, we are going to see the ways AI is going to transform the thriving manufacturing sector. But, before moving forward, we will go through the key segments of AI technology that influence AI manufacturing processes.
Major Segments of AI Useful for Manufacturing Sector
AI is an umbrella term for all capabilities related to intelligence including video and image recognition, smart automation, advanced simulation, and the like. It is fair to mention that the top use cases revolve around three aspects of AI.
This is one of the most important types of AI, which deals with data analysis using algorithms. It can ‘learn’ automatically from underlying patterns and enable manufacturing companies to make informed decisions.
These are AI-driven agents that can autonomously manage their tasks. Connected vehicles and collaborative robots fall under this category.
It is a subset of ML that utilizes neural networks for analyzing the data including images and videos. Deep Learning has a lot of opportunities in the domain of remote asset monitoring and maintenance.
Let’s go through the top four ways AI impacts the manufacturing sector.
Four Ways AI Impacts Manufacturers in 2022 and Beyond
Enhanced Workplace Safety
Collaborative robots or Cobots are designed to enhance the human’s safety at the workplace. Being small and relatively lightweight, Cobots remain a handy and cost-effective option for manufacturing industries.
They can help manufacturers create safer work environments by handling some of the dangerous tasks or hazardous activities. It is possible to eliminate the risks associated with workplace injuries. As a result, workers need to do less dangerous tasks, which is eventually necessary for making them ready to handle more complex tasks.
With Machine Learning, you can program robots to complete certain risky tasks in the right way. These robots do not react to unexpected situations and make the workplace more secure. The ML technology enables the system to learn and improve continuously.
Improved Quality and Performance
When it comes to making customers happy, a manufacturing industry has to meet the highest standards in quality and performance. AI enables manufacturers to stay updated about the quality of finished products. If the quality of services and products are slightly deteriorated, the AI-based system sends a notification immediately
AI not only assists industries to detect and resolve major or minor faults but also enables entrepreneurs to avoid several potential issues during the early stages of manufacturing.
Machine Vision, an AI solution, is an example of this aspect. It uses high quality cameras to identify problems or defects more efficiently than humans. Manufacturers can also collect the data related to the performance or quality of various products or services. They can make better decisions based on this useful data.
Better Inventory Management
One of the most powerful impact of the AI technology in the manufacturing industry is it can assist manufacturers in managing inventory and supply chain. Machine Learning is useful in predicting supply planning. AI demand forecasting tools can give more accurate results as compared to the same given by traditional demand forecasting methods.
Manufacturing companies can utilize the right tools to manage their inventory levels and ensure that they do not need to face the issues like shortage or oversupply.
Scope for Innovation
An AI app development company can come up with innovative solutions with advanced features. Drones and industrial robots have remained the important parts of manufacturing companies since a long time.
But, AI technology can open the doors of innovation and opportunities for production. Be it generating designs for various products or improving services by offering innovative functionality, hundreds of thousands of possibilities are available. Manufacturers can easily come up with different ideas quickly to meet the needs or expectations of customers.
Role of AI in Heavy Asset Manufacturing Industry
What’s more, AI can play a vital role in enhancing heavy asset manufacturing process. As a cost-effective and highly efficient alternative to costly equipment, AI can enable heavy engineering companies to-
- Analyze machine data to find maintenance requirements proactively
- Replace manual activities for monitoring assets
- Offer insights based on real-time data analytics to make informed decisions
An AI-powered app solution can quickly capture zillions of data from various process variables. It can then map the data to automated workflows and apply neural networks along with analytical algorithms.
An AI app development company can enable manufacturers to leverage all these features to ensure growth and increase ROI while automating processes and improving efficiency.
Integrating digital transformation solutions in the manufacturing sector is the need of the hour. Be it enhancing product safety or building smart factories, these solutions always play a vital role with a focus remaining on AI technology.
AI-powered features will be leveraged in an effective way with the help of a super-fast 5G connectivity. It is better to consult a reputed AI app development company to make the most of AI-based features for your manufacturing industry.