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AI is a technology that is fairly developing or in the completion stage of development. It finds widespread use in multiple industries, like gaming, banking, commercial, retail, and government applications as well. AI in Manufacturing Industry is revolutionizing the scenario.
The manufacturing industry has been slow to jump on the bandwagon, so to speak, only recently realizing the true value of Industrial Automation.
AI-driven machines are now creating the future of our convenience – they offer new opportunities and enhance efficiencies in production.
According to the Statista, the global artificial intelligence software market is forecast to experience massive growth in the coming years
Industrial Revolution 4.0 creates a stronger digital economy on the backbone of automated tasks, which allows it to reconfigure how people and machines interact with each other and collaborate to create the world as we experience it.
The first thing we think of when we think of AI is not how it can provide complex decision making in the manufacturing industry, or how it can solve issues related to information overload. But it’s all happening, and the manufacturing industry is set to experience some of its biggest changes yet!
Here are the ways in which AI is transforming the manufacturing industry:
AI and robots together have revolutionized mass production, and this is one of the areas where they make the biggest impact. Robots can keep on doing the same activity over and over again, without getting tired or increasing the scope of error as time progresses – thus they are able to provide very high levels of quality assurance.
Robots do not have the same human limitations that human workers have and can continue to work throughout the night as well as the day. Due to this limitlessness, robots can drastically expand the production capabilities of businesses, allowing them to scale up and cater to larger audiences.
Workplaces, especially in the manufacturing industry, are often hazardous places to work in. There can be no telling which equipment might give way at some point, or when a human error will creep. With robots replacing humans, workplace accidents will also go down, since robots are not capable of making the same type of errors, or even make them at the same scale.
With AI taking over the replaceable, low-skill level of jobs away from humans, they will become increasingly empowered to take up jobs that will make a difference in their lives as well as in the world around them. They can turn their focus to complicated tasks that require a mix of both IQ and EQ – something AI will be unlikely to do well.
Although the initial capital investment required to bring AI into any segment of the manufacturing industry will be significant, it will lead to considerable ROI in the longer run.
As computing power and technological capabilities grow day by day, with AI manufacturers will be able to make a quicker automated decision, realize vaster scalability, facilitate faster and deeper product development.
All this will, of course, contribute to the revenue of the company as well as reduce the operating costs – considering that AI is a one-time investment with lifelong returns.
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