Artificial intelligence innovates and optimises the manufacturing industry
Koyel Ghosh, Allied Market Research shares insights on how new age technologies such as artificial intelligence is going to revolutionise the manufacturing sector
Well, there’s no doubt in the fact that AI solutions hold the key to future development in almost every industry including manufacturing. Especially, with humans and robots working simultaneously in various manufacturing units, the demand for artificial intelligence has increased in more than one way. When this high-end intelligence techniques are almost revolutionizing the sector, industrialists are also utilizing AI to turn down unplanned downtime, perk up efficacy, product quality and the safety measures of the employees.
A number of researches have been conducted and it’s revealed that the manufacturing sector will have the major impact of machine intelligence coupled with robotics. AI solutions are now playing a pivotal role in tweaking up enterprise software. Right from optimizing industrial facilities and interpreting relevant data to brushing up the process of material management, the list goes on and on. The convergence of IoT and artificial intelligence brings about the concept of smart manufacturing. This is an evolving and incipient field where cognitive techniques are implemented to propel optimizations in domains including supply chain management, agile management, and order tracking.
Following are the ways AI has proved to be a boon for the manufacturing industry
• The application of AI and robots is mainly observed in industrial manufacturing, as it tends to rejig and develop mass-production. Automation comes with the potential to perform recurring activities, fabricate the production model, increase competency, put up robotic solutions, exterminate human errors, thereby cropping up greater levels of quality assurance.
• Robots are always capable of working 24/7 in the production line. With automation solutions on board, manufacturing plants can be witnessed to grow in terms of production abilities, thus catering to the high demand of customers worldwide.
• Also, when it comes to safer operational environment, AI solutions are beneficial indeed. With numerous errors occurring in the manufacturing plants, embracing AI ensures less human interference in risky and precarious jobs. With robotic techniques taking over all the perilous activities, the number of workplace accidents would certainly decrease to a significant extent.
• Last but not the least; as artificial intelligence acquiesces the manufacturing sector and systematizes all the boring as well as hazardous tasks, workers will get enough time to focus on other innovative errands. This way, the manufacturing plants can better work with innovative solutions and route their business to advanced levels.
In the last few years, there has been a significant increase in the use of artificial intelligence in the healthcare sector. Right from medical diagnosis to medical data processing and analysis, AI solutions are now widely being used to serve an array of purposes. And, with the outbreak of COVID-19, people have become more conscious about several health measures. Also, as AI solutions tend to work along with medical practitioners and offer high-end care, the demand for artificial intelligence has increased in several ways. On the other hand, the global lockdown has given birth to multiple disruptions in the supply chain management which has impacted the manufacturing sector badly and as a result, the use of AI solutions in the industry has experienced a sharp downswing. However, the broadening and splayed application base of AI solutions is egging on business ventures around the world to shoot up their spending across the manufacturing sector. Moreover, relaxations in restrictions in several regions have ameliorated the situation to some extent, and it’s projected that artificial intelligence systems would again be used in full swing in the manufacturing sector to ensure minimum risk by detecting all the impending threats through the large-scale analysis of important data or information.
According to Allied Market Research, the global artificial intelligence in manufacturing market is expected to grow at a significant CAGR from 2018 to 2025. Improvement in automation in the manufacturing industry and increase in demand for big data integration are the two major factors driving the growth of the global market. Moreover, rapid use of machine vision cameras in the manufacturing units such as machinery assessment, material valuation, and quality control supplement the growth yet more. At the same time, the leading market players have also started taking recourse to various strategies to develop their existing product portfolio which, in turn, has created multiple opportunities for them in the near future.