Advantages of Artificial Intelligence on Manufacturing Industry

By : |February 7, 2019 0

Without a doubt, artificial intelligence holds the key to future growth in almost every sector including manufacturing, healthcare and education. Humans and robots are working side-by-side in various manufacturing units. The advanced manufacturing techniques, AI is revolutionising the manufacturing industry.

Manufacturers are utilising AI to reduce unplanned downtime, improve efficiency, product quality and the safety of employees. Here are some key advantages of Artificial Intelligence:

AI-based strategies

The past decade has seen an explosive advancement in the fields of artificial intelligence (AI) and Robotics. The “perfect storm” of more data, better computing and strong algorithmic innovations have brought these technologies from the realms of sci-fi imagination to the front and center of our lives and are already significantly altering the world we live in.

                                 

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Arati Deo, Managing Director – AI Practice, Accenture Advanced Technology Centers in India, believes that AI I is poised to transform business in ways we’ve not seen since the impact of computer technology in the late 20th century. According to research from Accenture, AI can double annual economic growth rates by 2035 and boost labour productivity by up to 40 per cent by fundamentally changing the way work is done. Our research demonstrates that regardless of industry, companies globally have a significant opportunity to apply AI and invent new business capabilities for growth, profitability and sustainability.

Our research also suggests that in labour-intensive sectors such as wholesale and retail, AI will augment the human workforce, enabling people to become more productive, leading to a profit increase of almost 60 per cent. In capital-intensive industries such as manufacturing, AI powered machines will eliminate faulty machines and idle equipment, delivering constantly rising rates of return, resulting in equally dramatic profit increases of 39 per cent by 2035.

Business leaders should develop AI-based strategies to fuel the organization’s innovation, growth and profitability; however, they must ensure to adopt a human-centric approach in order to realize the full opportunity that AI provides. Far from simply eliminating repetitive tasks, AI should put people at the center, augmenting the workforce by applying the capabilities of machines so people can focus on higher-value analysis, decision-making and innovation.

Another AI trend we see is that AI is moving beyond a back-end tool for the enterprise, and taking on more sophisticated roles within technology interfaces. In future, AI will act as the face of a company’s digital brand and a key differentiator for businesses globally, demanding C-level investments and strategy. Customers will select services based on AI instead of traditional brand, most interfaces will not have a screen and will be integrated into daily tasks, and digital assistants will be so pervasive that they will keep employees productive 24/7/365, operating in the background for workplace interactions.

Also in parallel, the frantic pace of technological advancement in the AI field is leading to bold predictions such as – AI will be primarily responsible for new life sciences discoveries in five years, or that within 10 years, one or more countries are likely to ban human-driven cars!

As AI becomes increasingly pervasive and invisibly woven into our daily lives, Accenture believes businesses need to “raise” responsible AI systems. Ensuring ethical and transparent behaviour from AI systems and creating trust in these systems will be critical for the businesses building and deploying these solutions. As new AI technologies and techniques continue to evolve, with humans and smart machines interacting more collaboratively, businesses that leverage this increased collaboration in reimagining their work will be the ones that will disrupt societal norms and living processes in the future.

Intelligent Automation

Technology moves at a breakneck speed and the world is transitioning rapidly as businesses take advantage of intelligent automation to revamp business operations, drive innovation and improve customer experience. AI is delivering new opportunities through intelligent, automated products and almost every industry will be impacted and transformed by AI in the next few years.

Advantage of AI in Personalized Learning

According to Subramanian Ananthpadmanabhan, Vice President, SAP India, Manufacturing – perhaps more so than others, is one industry currently seeing the benefits of implementing this technology in operations. As we strive to incentivise the Make in India approach, AI can help leapfrog in ensuring quality control from human monitoring alone to a combination of human and machine combination. AI can improve safety levels through monitoring machinery and predicting the potential for accidents.  The benefit is more than just cost reduction. The benefit can be a safer working environment that has a direct bearing on productivity.

Predictive maintenance & optimization of industrial facilities and Machines

Manufacturing Industry will have the biggest impact of AI coupled with automation. AI is playing a vital role in improving enterprise software. Right from Predictive maintenance & optimization of industrial facilities and Machines, Interpreting the data that flow across departments, Improving material management and the list goes on and on.

Arush Sogani, Director, Sysnet Global Technologies said that “Robots already have a significant presence in manufacturing automation and it seems to increase further.”

The intersection of the internet of things (IoT) and AI results in the concept of smart manufacturing. This is an emerging field where cognitive techniques are leveraged to drive optimizations in areas such as asset management, supply chain management, fleet management, and order tracking.

The top AI use cases in manufacturing revolve around –

• Predictive maintenance: Ability to anticipate machine and equipment breakdown improves asset utilization and productivity.

• Yield enhancement: Using AI engines, companies are identifying causes of yield losses and locating yield detractors that can be avoided by changes to production processes.

• Testing and quality optimization: AI-enabled visual inspections are proving to be more accurate than human checks and operate at lower cost points.

• Improvements in inventory management, better demand forecasting, and supply chain management are other big areas where AI techniques are being leveraged.

Smarter Workforce

According to Mritunjay Singh – Chief Executive Officer and Executive Director, AXISCADES, In 2018, AI and Machine Learning have made their presence felt in the design process, production floor, and even administration functions of major manufacturers. The industry is now beginning to realize the promise of Industry 4.0 and machines no longer have a purely mechanical function.

With shop floor and process automation, digitization, IIOT adoption, and augmented reality application entering the top five 2019 agenda of industry leaders, manufacturers will look for increased intelligence and predictions from their ‘non-human counterparts’.

Enterprises will look to accelerate ‘Industry 4.0 tech’ adoption and 2019 will see an increased demand for a smarter workforce and skills like building artificial neural networks and flexible-self learning algorithms will become mainstream requirements of enterprises. The ecosystem would evolve too, with the product, engineering service and R&D players joining hands to address resource gaps and move the industry forward.

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