Perceiving the pandemics' hard reset as a chance to grow stronger, more resilient, and resourceful dominates manufacturers' mindsets who continue to double down on analytics and AI-driven pilots.
Combining human experience, insight, and AI techniques, they're discovering new ways to differentiate themselves while driving down costs and protecting margins. And they're all up for the challenge of continuing to grow in tough economic times. They're not alone in accepting that challenge. Boston Consulting Group's recent study The Rise of the AI-Powered Company in the Postcrisis World found that in the four previous global economic downturns, 14% of companies were able to increase both sales growth and profit margins as the following graphic shows:
AI Is Core To Manufacturing's Real-Time Future
Real-time monitoring provides many benefits, including troubleshooting production bottlenecks, tracking scrap rates, meeting customer delivery dates, and more. It's an excellent source of contextually relevant data that can be used for training machine learning models. Supervised and unsupervised machine learning algorithms can interpret multiple production shifts' real-time data in seconds and discover previously unknown processes, products, and workflow patterns.
The following are ten ways AI is enhancing manufacturing in 2020 based on Capgemini's recently published Scaling AI in Manufacturing Operations: A Practitioners Perspective study and interviews with manufacturers over the last four months:
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Team predicts the useful life of batteries with data and AI. (2019, March 28). R & D.
The Future of AI and Manufacturing, Microsoft, Greg Shaw (PDF, 73 pp., PDF, no opt-in).
The Rise of the AI-Powered Company in the Postcrisis World, Boston Consulting Group, April 2, 2020
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