Artificial intelligence in businesses has incredible benefits, such as automating and optimizing routine processes and tasks – we can save time and money, increase operational efficiency and productivity, and perform repetitive jobs. No wonder AI quickly analyzes data and identifies trends to make better business decisions.
This article is about understanding how AI is impacting the manufacturing business. Let’s get started!!
Artificial Intelligence In Manufacturing
Let’s learn how AI will transform manufacturing and some important trends to get a bigger picture of how to keep your business up to date.
Predictive analytics is revolutionizing industrial manufacturing. According to Industrial AI research, many industries have adopted AI-driven digital technologies such as predictive maintenance, manufacturing efficiency, downtime, and quality control solutions across the supply chain.
AI-powered predictive analytics uses historical and real-time data to forecast critical future outcomes, improve operations, increase revenue, and reduce risks and costs. Besides, it is an effective solution for tackling the pain points of the production process. Manufacturers can depend on PA for deeper insights, greater flexibility, and more accurate decision-making.
Supply chain optimization
The supply chain is considered equally important as the production process for the manufacturers because inefficiencies in the operations can result in losses. Thus, AI tools allow manufacturers to trace, track, analyze, and streamline the entire supply chain management process. Further, they can automate tasks, predict disruptions, and facilitate end-to-end control of all operations.AI algorithms effectively estimate market demand by considering the location, climatic conditions, and socioeconomic status. Thus, helping organizations to optimize their go-to-market strategy.
AI-enabled design software
Industrial AI uses machine learning algorithms in domain-specific industrial applications to bring digital transformation to the manufacturing industry. Creating optimized product designs would be laborious and challenging for human designers, taking weeks of valuable time. Whereas AI-enabled design software can help create several optimized designs for a single product. Certain input parameters, such as size, weight, raw materials, manufacturing methods, cost, etc., are to be specified. With the help of these parameters, machine learning algorithms can generate designs against various manufacturing conditions to choose the best outcome.
For most manufacturing companies, data is needed to improve the product quality on the assembly line. With big data analytics, manufacturers can recognize patterns that allow them to enhance processes, determine variables that impact production, and boost supply chain efficiency.
Big data also identifies the life of the machinery, whether it should be replaced or is in good working order. Thus, manufacturers can prevent sudden failures without warning that might cripple a business.
Advancements in big data quickly make it possible to compare production at different sites and identify the reasons for any differences. These data insights thus help drive global decisions such as when certain work sites should be closed or relocated, where to build factories, when and how new products may be introduced into the marketplace etc.
Top leaders in manufacturing companies understand the significance of big data analytics and are increasingly relying on big data to drive their decisions.
In manufacturing, IIoT (the Industrial Internet of Things) equipped with sensors generates large volumes of operational data. These data insights can help monitor energy use, equipment performance, the presence of toxic gases, and environment temperature for better workplace safety.
AI for cybersecurity
Cyberattacks are most vulnerable when using IoT devices; even a momentary failure in production can prove to be expensive for organizations.
For security and mitigation of industrial facilities, risk detection algorithms and AI-driven cybersecurity systems can prevent potential cyberattacks. These technologies can intimate relevant teams allowing them to take quick action to avert damage. To combat cyber attacks sandboxing, code signing, and other security procedures can become effective tools.
More Benefits Of Artificial Intelligence In Manufacturing
AI in the manufacturing industry exceeded over USD 1 billion in 2018. It is expected to grow at 40% CAGR from 2020 to 2025.
Over the past few years, manufacturers have been striving to make their businesses more resilient by investing in AI and machine learning technologies. Implementing AI systems facilitates bringing down operational costs and improves time-to-market.
Artificial Intelligence in the manufacturing market involves:
- Interpreting and processing big volumes of data from the production floor to spot patterns
- Using AI tools to automate complex and repetitive tasks
- Analyzing and predicting consumer behavior
- Unearthing anomalies in production processes
- Detecting unknown patterns in manufacturing processes or workflows
- Help in designing products
- Lowers production costs
- Enable the creation of accurate predictive models in seconds
- AI-powered robots are used for easy material handling, including material transfer and machine loading, unloading, processing operations, assembly, and inspection
AI-driven technologies can boost manufacturing efficiency, help manufacturers make smarter decisions, and discover new ways to drive innovation. Manufacturing industries seeking a competitive edge need to integrate and manage essential data to increase profits and improve operations.
Contract manufacturers like Violin Technologies can provide best-in-class precision machined components, electromechanical assemblies, wire harness, cable assemblies, and custom-stamped parts. They can prove to be your trustworthy manufacturing and supply chain partner.
About the Author
Durga hails from Visakhapatnam, the City of Destiny. She is currently living in Bengaluru with her husband and two kids. She has a Master’s degree specializing in chemical engineering. She is currently working as Associate Content Writer at KloudPortal, as it aligns with her passion of content creation. She enjoys learning new things about famous and infamous people, animals, historical events and the list goes on and on. So, compiling relevant and latest information about anything and everything makes her enthusiastic and happy. She loves travelling, cooking variety food and music.