|The manufacturing industry is investing in AI and machine learning solutions to improve production processes / Photo Credit: Phonlamai Photo via Shutterstock|
The manufacturing industry has always been one of the first to adopt all kinds of technologies including automation, robotics, and sophisticated digital solutions. It is also known as a technically advanced sector. Thus, it’s not surprising that many manufacturers across the world are investing in artificial intelligence and machine learning solutions to improve production processes.
For several years, we have seen how AI has improved the manufacturing industry, which includes increased productivity, reduced equipment failures, better distribution, and the introduction of enhanced products. Recent reports projected that the smart manufacturing market will grow at an annual rate of 12.5% starting in 2019. As of now, numerous businesses are experiencing the advantages of machine learning. Here are some of the current implementations in the industry.
Product development: AI and machine learning can improve existing products and tools as well as design new ones. According to Business.com, an online site that offers business advice, tips, and resources, machine learning can help in gathering consumer data and analyzing it to understand demands, uncover hidden needs, and detect new business opportunities. These can help in developing better products from the existing catalog. At the same time, it can reduce the risks associated with the development of new products through the planning stage for more informed decisions.
General process improvement: Machine learning-based solutions can improve daily processes across the entire manufacturing cycle. Manufacturers can detect all kinds of issues on their routine methods of production. They can also take a deeper look into their logistics, inventory, assets, and supply chain management by combining machine learning tools with the Industrial Internet of Things. This can bring potential opportunities in the whole manufacturing process.
Security: The security of all tools, systems, and applications in the industry is important, especially because all machine learning solutions rely on apps, operating systems, networks, cloud, and on-premise platforms. Through machine learning, it can analyze how individual users access certain protected information, which applications they use, and how they are connecting to it. This can help in immediately detecting anomalies.