The world has seen a transformation in its economic activities since the coronavirus pandemic broke out. Economies have come to a grinding halt and manufacturing has dipped. Now what nations need is resilience and strength to carry on production in all sectors. What they are most depending on is the power of Artificial Intelligence to enhance the manufacturing process and help save money and drive down costs.
In fact, a study shows that in the four earlier global economic downturns companies using AI were actually successful in increasing both sales and profit margins. Companies are all striving to utilize human experience, insights and AI techniques to give manufacturing a fillip in these times of a crisis.
Real-time monitoring of the manufacturing process is advantageous because it translates to sorting out production bottlenecks, tracking scrap rates and meeting customer deadlines among other things. The huge cache of data used can be utilized to build machine learning models.
Supervised and unsupervised machine learning algorithms can study multiple production shifts’ real-time data within seconds and predict processes, products, and workflow patterns that were not known before. A report suggests 29% of AI implementations in manufacturing are for maintaining machinery and production assets.
It was found that the most popular use of AI in manufacturing is predicting when equipment are likely to fail and suggesting optimal times to conduct maintenance. Companies like General Motors analyze images of its robots from cameras mounted above to spot anomalies and possible failures in the production line and thus preempt outages.
General Motors uses AI algorithms to give and produce optimized product design. General Motors can achieve the goal of rapid prototyping with the help of AI and ML algorithms. Designers provide definitions of the functional needs, raw materials, manufacturing methods and other constraints and the company along with AutoDesk has customized Dreamcatcher to optimize for weight and other vital criterion. In this way, AI comes together with human endeavor to produce a-class product designs that cost lesser.
Nokia has begun using a video application that takes the help of machine learning to alert an assembly operator if there are inconsistencies in the production process in one of its factories in Oulu, Finland. It alerts a machine operator about inconsistencies in the production of electronic items and this helps preempt poor production process and helps the company save on a lot of money and capital.
There are many other production processes AI is helping revolutionize. Only time will tell how much of AI will power the manufacturing sector. But this technological advancement is surely making an impact on economies worldwide. Meanwhile, for more details, do peruse the DexLab Analytics website. DexLab Analytics is a premiere machine learning institute in Gurgaon.
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