Ever since the ingression of AI in the manufacturing industry, it has only been habitual to growth. Analytics Insight predicts that Artificial Intelligence in the manufacturing industry is estimated to reach US$11.7 Billion by 2025, growing at a CAGR of 54.6% from US$2.6 Billion in 2021
The manufacturing industry that has been following the traditional methods and techniques is now undergoing a massive transformation with AI integrations. According to a PwC report, AI integration in manufacturing rose from 62% to 72% as companies started adopting AI as a golden opportunity to streamline the traditional methods and eliminate complexities.
One relevant instance in this context can be FANUC, a Japanese group of companies that realized the importance of AI integration in the manufacturing systems long back. FANUC implemented artificial intelligence in its infrastructure to explore the possibilities of business progress.
However, several companies remained unwelcoming towards AI integration until 2020. Affirmatively, manufacturing companies, post-AI-integrations are making incredible progress by generating massive revenues.
AI integration in the manufacturing industry has impacted the dynamicity of the industry. Artificial intelligence along with the integration of other high-end technologies like machine learning and deep learning has caused the industry to pace up to be in parallels with its competitors. Some of the other improvements are:
AI in manufacturing has eliminated the occurrence and recurrence of risks. Risks mostly include loss of confidential data and financial data that can affect the entire system to great negative degrees.
Employees in the manufacturing sector often complain about their struggles to deal with complexities. The complexities can be related to data and operations that often tire out the employees. With AI in the picture, complexities are better-taken care of while the human workforce can focus on value-added activities.
AI integration entails the assurance of cost management. Specifically, machine learning can cut down on heavy costs while meeting customer demands as machines handle numerous tasks at a time.
