AI, NLG, and Machine Learning
The Benefits of Artificial Intelligence in the Manufacturing Industry
The benefits of artificial intelligence in manufacturing include mass customization, predictive maintenance, and the possibility of revolutionizing the way that manufacturers conduct their business.
August 31, 2021
Artificial intelligence (AI) is the future of manufacturing and could potentially reshape the industry as we know it. AI can take a variety of inputs from disparate sources, crunch them together, and improve efficiency. For example, AI can gather data from machines, people, and sensors in a warehouse or factory and then use it to automate processes or perform tasks, such as optimizing operations, maintaining product quality, or producing products on demand.
With the proliferation of artificial intelligence applications in various aspects of business and operations, manufacturing companies need to invest in machine learning technologies. AI will not displace people but will work alongside them to create new forms of value and new opportunities. The organizations that successfully implement these technologies will reap the most significant benefits, creating an exciting future for AI in manufacturing.
In a Forbes Insights Survey on artificial intelligence, 44 percent of respondents from the automotive and manufacturing sectors classified AI as “highly important” to the manufacturing function in the next five years, while almost half, 49 percent, said it was “absolutely critical to success.” Also, according to MarketsandMarkets, artificial intelligence in the manufacturing market is expected to grow to USD $17.2 billion by 2025.
From making the most out of downtime to generating more productive goods and improving safety, AI revolutionizes manufacturing and changes the industry for the better.
There are many areas where artificial intelligence and machine learning are transforming manufacturing today. Read on to explore some of the most important of them.
Modern maintenance management systems aim to ensure the optimal, complete, and safe operation of all critical facilities and production equipment. Machine learning in manufacturing can help by implementing efficient predictive maintenance for critical production equipment.
By combining sensors and machine learning in manufacturing with artificial intelligence, maintenance managers can quickly identify imminent failures and can even predict the timing of these failures. Predictive maintenance program management enables the organization to make more effective decisions about capital investments, equipment, and staffing based on data analysis.
Artificial intelligence is used to determine when maintenance is necessary and how long equipment might operate without failure. It prioritizes equipment maintenance and even recommends spare part levels. As a result, AI makes it possible to increase uptime, reduce maintenance labor costs, and positively affect balance sheets.
With the drastic rise of cyber threats, companies are looking for new ways to defend themselves from these attacks. As these challenges increase over time, many organizations are turning to AI to help solve their most significant cybersecurity challenges. With large amounts of data and operating technology environments producing mountains of logs and data—and their respective networks, appliances, and applications—AI is the perfect solution, since it’s able to process and analyze these enormous volumes of information.
AI offers an unparalleled opportunity to bring huge productivity gains to cybersecurity, with recent advances turning information into a reality. Companies like IBM are even using cognitive technologies and AI in cybersecurity to enable other companies to quickly identify threats and respond to them.
The future of AI in manufacturing is largely dependent on the development of new robotics. Industrial robots, also called manufacturing robots, are indispensable tools that can be used to increase efficiency and productivity. They can help manage human workers by performing repetitive tasks, such as packing, shipping, and inspection. Industrial robots are also used in all types of industries, including appliance assembly, food processing, injection molding, metalworking, welding, and painting.
These robots have been used in manufacturing plants for decades. And now, they can be programmed using artificial intelligence and machine vision to achieve fine motor skills, complex regulation, and predictive accuracy. With advances in AI and robot vision, industrial robots are becoming increasingly capable and complex.
For example, Siemens, the largest industrial manufacturing company in Europe, has been making waves in the field of artificial intelligence and changing the course of the future of AI in manufacturing. According to an article on the Siemens site, researchers, with the help of AI, have developed a robot that can manufacture products—without being programmed. The robot’s two arms divide the work autonomously and then complete the work together more quickly than could be done in the past.
What are the benefits of AI in Manufacturing?
As one of the most dangerous industries, there are more than 3,000 major injuries and nine fatalities in manufacturing each year in the United States, which shows how important it is for companies to use AI-powered robots to reduce accidents in their work areas.
With robots taking the place of people, it’s likely that many work environment mishaps will also decrease, since robots don’t commit “human” errors or make them on a grand scale.
An important aspect of AI implementation in the manufacturing industry is the ability to produce at any time, regardless of human limitations. Robots can work around the clock, which means that businesses can increase production by a huge amount. They'll also be able to scale for mass consumers.
3. Cost reduction
An additional benefit of AI in manufacturing is its ability to reduce the operation costs of manufacturers. Leveraging AI technologies can enhance organizations' analytics capabilities and thus allow them to reduce the use of resources, better predict the future, and boost their productivity. The use of AI can also lead to more accurate sales and production forecasts, reduced waste in inventory, and improved financial results.
The future of AI in manufacturing is looking bright, with machine learning improving efficiency in manufacturing work environments—and leading to better industry performance overall.