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Artificial intelligence is currently one of the greatest driving forces powering innovation and improvements in efficiency in the manufacturing industry of today. With over 60% of manufacturing companies having already adopted machine learning in their processes, it’s easy to see that this trend will continue to go up. So what exactly can AI do to improve manufacturing?
Predicting design failures
One of the things you have to deal with on a regular basis in the manufacturing industry is machinery failure, and this failure can result in delayed time to market, higher costs, and increased downtime. If these failures are not addressed or detected in time, the end product will also suffer in terms of performance and quality. AI can help with this. Using predictive learning, AI can identify equipment or product failures well before any major breakdowns occur.
Quality assessment in product manufacturing
Quality assessment is one of the hardest parts of the manufacturing process. Simply observing the functionality of the product will not always result in the correct identification of flaws in the manufacturing process or in the end product. With machine learning, however, these flaws are easily detected over time, as the algorithm analyzes huge data patterns that would otherwise be very hard to detect by conventional means.
Predictive maintenance
Being able to detect small and major breakdowns of the machinery way in advance can have tremendous cost benefits. Due to its ability to analyze a large trove of data points, machine learning can predict when periodic maintenance is needed. Not only does this prevent breakdowns, it also optimizes your maintenance budget, so that the maintenance team only works as needed.
Demand and price forecasting
AI capabilities extend beyond the manufacturing process itself. Pricing data can also be analyzed to identify trends and adjust the production line according to demand and price fluctuations in the future. The benefits of these forecasting capabilities extend to inventory management as well, which can result in significant overhead cost reductions.
Are you interested in implementing AI for your company?
Whenever you have to analyze and understand trends in large data sets, AI is king. It is able to quickly detect patterns that would otherwise go unnoticed, and these patterns are then used for predictive analysis. If you would like to know more about how AI can benefit your manufacturing company, the prices of implementing machine learning, or any other information, contact us today.