The world of manufacturing is on the brink of another revolution due to the Internet of Things (IoT) and Artificial Intelligence (AI) applications. Aside from clear use cases like robotics and automation, big data applications are coming into play thanks to industrial time series data collected by data historians. Thriving on all this data, AI systems can be built to send early warnings, optimise processes, predict maintenance and enforce quality control. By collecting the right data, manufacturers can get really creative with their AI solutions, and it can set them apart from the competition.
There is growing interest in the idea of smart factories with 92% of manufacturing executives believing that this is the way forward, but far less are actually putting in the research for AI solutions, and fewer still are putting those ideas into practice. That said, the Industrial IoT market has been steadily growing over the last few years and as the technology matures, costs are dropping making it easier for companies to access.
The smart factory is becoming reality, as manufacturers take advantage of the latest in machine learning, big data, and robotics for new levels of efficiency and competitiveness.
Big data analytics, machine learning, digitization, the Industrial Internet of Things — all these buzzwords are attached to Industry 4.0 and the “factories of the future.” But what is really going on with artificial intelligence and robotics? Most experts agree on the great potential of the smart factory, but actual combinations of next-generation automation and production are just beginning.