In today’s manufacturing sector, manufacturers are reinventing their world with technologies that connect products, smart factories, and supply chains in new directions. This conversion is fueled by a large amount of data and the utilization of Artificial Intelligence across the manufacturing ecosystem. Today’s modern manufacturers are generating huge amounts of data, due to a precipitous decline in sensor prices that has enabled data collection at each step of production, and now they require AI to make use of it all.
Several manufacturers are already maximizing on large investments in the technologies for AI while some of the planning to resume spending in the coming years. Moreover, the AI in the manufacturing market is predicted to reach USD 17.2 billion by 2025. Manufacturers these days are utilizing AI systems along with IoT data to foresee and circumvent machine failure. For this, they practice predictive maintenance to depreciate agitation and inconvenience, avoid issues and resolve intricacies promptly. Manufacturers can now deploy AI systems to minimize scrap rates from faulty products and obtain more value out of the materials that go into the production process. These are all possible by utilizing AI systems to detect causes of yield losses that can be dodged by changes to production procedures or product designs.
Further, AI unlocks the door to new quality testing processes where manufacturers can now utilize Machine Learning and advanced image recognition systems to automate the visual inventory and products’ fault detection processes and to trigger the automatic dismissal of faulty products from a production line. These capabilities can produce vital savings. According to the McKinsey & Company, AI-optimized quality testing can boost productivity by up to 50 percent and double the defect detection rates by up to 90 percent in comparison to human inspection. Hence, AI is one of the keys to generous output, high-grade product quality, reduced waste and more for modern manufacturers.