AI has taken the world by storm. With industries like banking, education, gaming and retails being transformed by AI, it’s no surprise that the manufacturing industry is next.
From expertise shortage to automating machines, integrating processes, and overloading information, AI help conquers many internal challenges. Leveraging AI in manufacturing helps company transform their business completely.
Let’s explore how top AI companies in manufacturing industry are paving the path for automation and digital transformation.
AI in manufacturing is, adding advanced technology to the current manufacturing process. It can get used to automating complex tasks and trying different manufacturing patterns for a fast workflow.
Without artificial intelligence, it would take hours to complete a task that an AI system could do in seconds. Furthermore, it will also affect work efficiency. In many cases, it is difficult for humans to detect defects in a product because they are not visible to the naked eye.
On the other hand, manufacturers that adopt AI use it to improve equipment efficiency in production, uptime, and better prediction.
Manufacturers can track their facilities in real-time. Thanks to critical Fourth Industrial Revolution (4IR) technologies. It includes ML, automation, advanced and predictive analytics, and IoT (Internet of Things).
McKinsey conducted a survey which results that the 4IR technologies are capable of generating approx. $3.7 trillion in value by 2025. AI has the potential to generate $1.2-$2 trillion in value only in manufacturing.
AspenTech research shows that 83% of large industrial companies believe that AI can produce better results. It also suggests that domain expertise is core for adopting AI models into the manufacturing industry.
To stand up in this competitive race, manufacturers have to adopt a data-driven business model. This includes skilled staff, advanced hardware, and ai software.
The need for 4IR technology will lead manufacturing businesses into the world of digital factories.
The IFR (International Federation of Robotics) report shows that there are 2.7 million robots currently operating in factories worldwide. And with the increase in digitization, this trend is growing in speed.
In the recent global epidemic, some manufacturers adopted technologies to make their businesses more flexible. That includes automating operations and ease of end-to-end control over all operations.
Many manufacturers are still trying to adopt AI and ML-like modern technologies to reduce production costs and increase time-to-market. Following are some of the solutions of AI and ML that most manufacturers have adopted.
This is one of the most common places where manufacturers can use artificial intelligence. AI gets used for workplace screening and safety. This technology was most useful during the pandemic time. AI is used to identify employees’ health status using thermal screens.
AI monitored employee interaction and contact for workplace sanitization in case of emergency. Also, the same system can help keep employees healthy, safer workplace, and continue work in the future.
All manufacturers always try to maintain their important production machinery. AI and ML are useful in advance maintenance management. It helps manufacturers to shift from regular maintenance to predictive maintenance.
It will result in a large amount of reduction in regular maintenance efforts, annual maintenance costs, and part maintenance. With the help of AI software, hardware sensors, machine data, and AI, the maintenance team can identify the major failures. It also helps in predicting future failures.
Research suggests that manufacturers experience a lot of damage during cyberattacks. As production industries are increasing the number of IoT devices in their factories, it affects the growth in cyberattack chances. Smart factories are getting on target for cyberattacks.
AI-based cybersecurity software and risk detection can help in securing production factories. It can also help in reducing attack risk. Manufacturers can use self-learning AI software to secure their IoT devices and cloud services. As this AI can spot attacks and interrupt them in seconds with accuracy. The system can also alert and provide guidance to prevent further damage.
Manufacturers are preferring AI robots in their business. The ultimate aim is to provide a safe workplace and increased efficiency. Following are some benefits of AI in manufacturing as well as in AI as a service.
The major advantage of AI as a service in a company is that it allows the reduction of the development cost of AI solutions. You only have to pay for what you need.
IBM Watson and Google cloud storage are the best examples of AI as a service. As they charge businesses as per their use.
The key advantage of AI and ML in the manufacturing industry is quality control. Advance machine learning models can get used to differentiate normal design and faulty design. ML model can identify the minor faults that humans can’t notice.
Adding such systems into the quality assurance section will increase product quality and also save time and money.
With the rise of worldwide product demand. If any production facility plans to work continue round the clock, they need to create different work shifts. They have to use 3 human workers for every 24-hour period. At the same time, robots don’t get tired or feel hungry. They are capable of working 24/7 in any condition.
This will affect an increase in production capability and manufacturers can meet the product demand. Additionally, robots are more efficient in picking and packing sections. They can help in reducing the required time in many areas.
A case study shows how manufacturing companies like Micron Technology have faced mechanical issues while developing their product. And how AI technology adoption has saved their hours of downtime and Avoided the loss of millions of USD through early detection of machine breakdowns and quality issues and a 10% increase in manufacturing output.
Similar to that, the following are some AI companies that help manufacturing industries to adopt AI technology in their business.
In 2003, Automation Anywhere, headquartered in San Jose, US, created a digital platform that integrates RPA with business processes to automate and analyze them. A bot created by Automation Anywhere will automate business processes and increase productivity by three times.
A case study shows how Automation Anywhere’s RPA solution named Synergy helped automate billing processes can generate 163% of ROI.
In addition, cloud-based automation allows non-technical teams to automate on their own with intuitive drag-and-drop actions and visual flow charts. By using web-based RPA, users can automate any process using their browser.
DataToBiz is a Chandigarh, India-based company founded in 2018. This company uses data and AI technology in various sectors of business. Starting from automation to decision making, this company helps multinational companies.
The company gain some expertise including
DataToBiz uses its Artificial Intelligence model to help its clients with security, data management, and many other services. PrepAI, HireLakeAI, and SensiblyAI are three products developed by DataToBiz. PrepAI is an AI-based question generation platform that works in Education Industry. Whereas HireLakeAI is an AI-powered Recruitment platform that gets used to streamline the hiring process and filter the candidates based on the recruiter’s requirements. SensiblyAI works in the retail industry.
AMP Robotics is Louisville, US-based company founded in 2015. This company works in the recycling industry particularly electronic waste, construction, and demolition. It uses AI and robotics to help small enterprises with recycling and building cost-effective solutions.
With this idea, the company is now expanding to three major continents and has many active recycling systems. The company works for flexible and efficient model development to help recycle industry for the reduction of waste throughout the world.
DataRobot is a Boston, US-based company that came into action back in 2012 and now established its offices in five different countries. This company uses the AI model to provide cloud services to other companies. It provides facilities like collecting, analyzing, and processing every type of data.
Now, DataRobots is working with many international clients. This company offers services like Data analysis and DevOps teams. The company’s cloud service includes ML, decision intelligence, and data engineering.
MindBridge is Ottawa, Canada-based company established in 2015. The company aims to change financial data analysis.
The company uses AI technology for fraud detection and risk management. Also, MindBridge company worked with multiple financial companies along with government agencies.
MindBridge uses an AI model that consists of –
The platform uses a 28 control point algorithm to provide service to their financial institution client.
The list doesn’t end here. There is a list of companies that are using AI models to solve industry problems and lead their respective industries with more advanced technology.
As mentioned earlier, the manufacturing industry is having significant benefits from AI models. Using sensors to predict machinery or specific equipment failure. Making alerts for machinery maintenance needs will help the manufacturer to handle the problem before they arise.
This will also help in saving time and money and allow them to focus on productivity increase and reducing downtime.
The aim behind adopting AI in any industry is not to replace humans with robots, but to let them have free time to focus on other things like making strategies.
AI is the future of the manufacturing industry. Companies are adopting this technology quickly and will soon consume the entire market.
According to a MarketWatch survey, the use of AI in manufacturing is expected to grow by more than 50% by 2027.
Artificial Intelligence helps companies increase work quality and productivity. Companies can use AI models at each level of their workflow. From health to security to decision-making, AI is playing a major role in every sector.
In the above article, we have learned what is the scope of AI in the manufacturing industry. How beneficial it is in every sector. How AI can help manufacturers in production and prediction. Lastly, we have learned about some companies that use AI to lead their respective industry.
In this way, we have concluded that the scope of AI is rapidly growing. Sooner or later, it will occupy the entire market and the era of 4IR will begin.