According to the World Economic Forum, the global manufacturing AI market was worth over $3 billion in 2023 and is expected to increase to over $20 billion by 2028. The use cases grow each day with new technological advancements, including automated supply chains, enhanced product quality checks, improved personnel safety and predictive machine maintenance, among many other benefits.
Although generative AI use cases are largely known for simulating human intelligence, the advanced technology is beginning to revolutionize the industrial sector. Generative AI-based technology can be embedded into machine learning technologies to complete tasks in a more efficient manner. This can be used to quickly change production cycles, handle multiple complex products simultaneously or even alert employees of machine health and potential safety hazards in real time.
AI-powered machine learning technology appears to be the leader of the Fourth Industrial Revolution in manufacturing. However, the technology is only as useful as the data it’s fed.
The combination of digital technology and AI has the potential to usher in a new era of continuous improvement in manufacturing, surpassing traditional methods of boosting productivity and unlocking additional value. AI-powered machine learning technology presents exciting opportunities for the future of Industry 4.0. While many top manufacturers have already reaped significant benefits from AI applications, others are just beginning their journey.
However, this advanced technology does not come without its challenges. Business leaders should be well-educated on the potential roadblocks before jumping on the AI train. Successful implementation relies heavily on collecting and contextualizing mass amounts of data across the manufacturing shop floor. This will lay the foundation for the technology’s potential and be a major competitive differentiator for those who properly use it.
Source : Forbes
