The uses of AI inside and outside the factory
Paul Calver, Chairman and CFO of The Data Analysis Bureau, examines how Artificial intelligence (AI) and machine learning (ML) are enhancing manufacturing operations across the board.
Manufacturers are resetting priorities around resilience, sustainability and operational excellence, and meeting the immediate challenges of securing supplies and recruiting workers.
AI and machine learning ML powered technologies are playing a vital part in accelerating manufacturers’ capabilities in these areas and achieving their goals to capture market share and remain globally competitive.
What is AI and ML? Artificial intelligence is the science and engineering of making intelligent machines, especially intelligent computer programs, and machine learning is a branch of AI which enables a machine to automatically learn, using data and algorithms, without explicitly programming, and can gradually improve its accuracy over time.
Manufacturers have been adopting physical technologies, such as robotics and automated machine tools, for many decades and have recently started to focus on additive manufacturing.
But as manufacturers become more aware of the power of data, many are turning to advanced data analytics, AI and ML, supported by IoT platforms, to leverage their key data assets. The adoption rate of these technologies is increasing rapidly.
A recent survey from The Manufacturer and IBM reported that 65 percent of manufacturing decision makers were working towards adoption, implementation or use of AI and ML.
This trend is set to accelerate with AI and ML in the manufacturing market expecting to grow at 57.2 percent CAGR over the next five years as manufacturers realise the low hanging opportunities enabled through data.
From our experience working closely with leading manufacturers across industry and as a successful recipient of an Innovate UK award to build a global predictive analytics service, we want to share with you a vision of AI and ML applications inside and outside the factory.