Industry and transportation are suffering a revolution in which artificial intelligence applications, from virtual assistants to advanced robotics, disrupt end-to-end value chains amid radical shifts in demand. The scope of change compels many manufacturers to adopt new plant designs, reshape their manufacturing footprints, and devise new supply chain models. Advances in AI technologies are enabling the industry to leverage rapid growth in the volume of data to optimize processes in real-time. They can shorten development cycles, improve engineering efficiency, prevent faults, increase safety by automating risky activities, reduce inventory costs with better supply and demand planning, and increase revenue with better sales lead identification and price optimization.
The talk will show how the growth of industrial artificial intelligence (AI) is reimagining the industries in many dimensions. Companies are learning how to use their data to not only analyze the past but predict the future as well. Indeed, one industry that can expect to see unprecedented savings from AI is manufacturing where AI can usher in a new era of productivity. AI is not just helping with failure predictions, it is also supporting operators on the front line to understand their machines even better than before, having all the historical data in one easy-to-access dashboard and keeping everyone at your company on the same page in order to make it easier for machines to get serviced, faster.
However, the great benefit of AI in the industry is the accurate prediction of the performance and the failure in order to replace the traditional O&M. While effective, there are certain drawbacks to these methods since the robustness and resilience of AI are still unclear in some sectors. In fact, it’s not an exact science and risks must be properly quantified or else AI triggers some fears for the deployment in the field. This disruptive transformation of manufacturing is traumatic which is why confidence in industrial AI is crucial.
Abstract & Bio
Industrial Artificial Intelligence – From Automated Process to Cognitive Analytics