7 Reasons To Adopt AI In Manufacturing

According to a recent Deloitte survey, 93% of manufacturing companies believe that AI will drive industrial innovation and growth over the coming years.

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However, manufacturing has been slow to adopt smart AI solutions compared to other industries such as finance and retail. One possible reason for the slow uptake stems from the mistaken belief that implementing smart factory solutions is a complex, disruptive, and time-consuming undertaking.

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This couldn’t be further from the truth. 

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These days, AI-driven smart factory solutions are easier to implement than ever and if carefully planned and delivered result in a high ROI. In other words, the benefits of adopting AI manufacturing solutions far outweigh any potential challenges. 

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In this article, we’ll explore seven of the main benefits of using AI in the manufacturing industry.

1. Increase efficiency with AI-driven automation

Data and AI solutions can drive up efficiency levels across the whole manufacturing value chain. For instance, at the design stage an AI engine can be used to perform generative design. Generative design is a method that leads to optimal design in a faster timeframe than traditional design processes. 

2. Improve decision making with AI insights

During production, machine learning algorithms can be used to analyze processes and find more efficient ways of doing things. For instance, AI analysis may reveal that bottlenecks frequently occur at a particular stage of the production line and adding an extra machine may be more efficient and result in a higher output.

3. Enhance quality assurance

AI can model and predict design flaws or future failure at the design stage, thus improving the performance of end products. A combination of IIoT image sensors and AI analysis software can flag up defects and automatically remove faulty products from the production line. Applying automated quality control measures such as this will help to speed up time to market and improve customer satisfaction.

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4. Implement predictive maintenance

Predictive or preventative maintenance is a strategy that is growing in popularity in the world of manufacturing. It involves using IIoT and AI-driven software to recognise and predict machine or equipment defects in advance of failure. 

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Predictive maintenance can be applied in unison with autonomous maintenance, which involves training operators to undertake minor maintenance tasks, leading to reduced machine downtime and increased productivity. 

5. Optimize processes with AI modeling

Big data and AI systems can be used to build a digital model of a manufacturing company’s operations and assess ways to boost performance across the board. For instance, the AI engine may identify that production cycle times can be reduced by alleviating a bottleneck at a certain  point on the assembly line that involves manual work and adding an automated process instead. 

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The results of process optimization can be very profitable. Large companies such as Siemens have seen an incredible productivity gain of 1400% as a result of digitization and automation of 75% of their manufacturing processes.    

6. Improve demand forecasting accuracy

Global supply chains can be difficult to manage, especially in industries that experience fluctuating supply and demand. AI-driven demand forecasting uses machine learning algorithms to analyze big data, a process that increases accuracy, limits risk, and improves supply chain performance. 

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The AI and ML engine analyzes thousands or millions of data points, taking into account factors that include buying behavior, global events, and economic activity. Obviously, it is not possible to forecast demand with 100% accuracy, but the application of advanced AI software certainly helps to bring it much closer to that figure.

7. Automate EPM processes

Many Enterprise Performance Management (EPM) tools apply AI to help you automate business and financial processes and analyze key data. Time consuming financial tasks such as dealing with orders and invoices can be handled by AI-driven software. Some sales and marketing processes can be automated by AI, including identifying new potential target markets and automatically following up with leads.

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Harness the power of AI with the o3 smart manufacturing platform

The o3 smart manufacturing platform has machine learning algorithms built in to automate certain tasks in your smart factory. o3 is also designed to integrate with third party AI tools. 

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To find out more about o3’s AI capabilities and the many other features and functions, get in touch with one of our expert team members today.