New Study Reveals 10 Ways AI Will Enhance Manufacturing in 2020
Manufacturers are looking to grow stronger, more resilient and resourceful after the coronavirus pandemic by doubling down on analytics and AI-driven pilots, according to Forbes.
Boston Consulting Group Henderson Institute’s latest study, The Rise of the AI-Powered Company in the Postcrisis World, found that only 14 percent of companies were able to increase sales growth and profit margins during the four previous global economic downturns. As a result, Forbes reports manufacturers are combining human experience, insight and AI techniques to discover new ways to differentiate themselves, drive down costs and protect margins.
Here are 10 ways AI is enhancing manufacturing in 2020, according to a study by Capgemini Research Institute, Scaling AI in Manufacturing Operations: A Practitioners Perspective:
- Twenty-nine percent of AI implementations in manufacturing are for maintaining machinery and production assets.
- General Motors’ Dreamcatcher system is based on Autodesk’s generative design algorithm that relies on machine learning techniques to factor in design constraints and provides an optimized product design.
- Nokia has introduced a video application that uses machine learning to alert an assembly operator if there are inconsistencies in the production process.
- Analyzing images in real-time to complete product quality inspections in the automotive and consumer products industries also helps manufacturers stay in compliance with stringent regulatory requirements.
- Improving demand forecast accuracy is showing solid results across multiple industries, with consume packaged goods manufacturers leading all others.
- Thales SA, a supplier of electronic systems, is using machine learning to predict preventive maintenance for high-speed rail lines throughout Europe.
- The BMW Group uses AI to evaluate component images from its production line, allowing it to spot, in real-time, deviations from quality standards.
- Schneider Electric created a predictive IoT analytics solution based on Microsoft Azure Machine Learning service and Azure IoT Edge to improve worker safety, reduce costs and achieve sustainability goals.
- Nissan is piloting the use of AI to design new models in real-time, hoping to reduce time-to-market for the next-generation model series.
- Canon has invented an advanced Asset Defect Recognition system that brings new levels of quality control to its manufacturing centers.