When someone mentions artificial intelligence (AI) to you – what comes to mind?

Does a terrifying scene from Terminator spring to life, with evil robots stealing our jobs, decimating our workforce, and destroying life as we know it? Well whether you realize it or not, AI is already integrated into nearly every aspect of your life and is slated to improve your workflow, too. From relying on spam filters in your email inbox to recruiting digital voice assistance tools like Alexa to share the weather forecast, explain a new recipe, or even blast Sinatra in your kitchen while you do the dishes – you use AI. Across industries, AI is paving the way towards a more cost-efficient, sophisticated future. Let’s explore the most prominent role AI has within the manufacturing industry and why you could be missing out on huge savings if you’re not on board.

We probably don’t need to explain to you why guessing isn’t exactly a sound business strategy, but for generations, manufacturers were limited when it came to handling equipment maintenance. The reality is, many companies consistently run machines until they break and then spend a lot of money replacing systems and wasting valuable time. A revealing joint study by The Wall Street Journal and Emerson found that unplanned downtime costs industrial manufacturers an estimated $50 billion per year. Equipment failure accounts for an astounding 42% of this unplanned downtime. How much money could you save if you stopped maintaining your equipment on a fixed schedule basis or worse – guessed when it’s time for a fix? The Internet of Things (IoT) is enabling manufacturers to transform from reactive to proactive, thanks to wireless connectivity, access to inexpensive sensors, and cloud computing. By implementing AI that uses complex analysis to predict pending component failures, a manufacturing team can receive notifications automatically right to their cell phones, and the problem can be solved before it exists. By adopting predictive maintenance solutions, manufacturers can optimize assets and ultimately, save avoidable costs. Many are already reaping the benefits of predictive maintenance, in fact, according to 2020 AI stats, nearly 30% of AI implementation within the manufacturing industry goes towards improving maintenance. To start taking advantage of predictive maintenance practices, you need to equip your machines with emerging tech, like sensors, cameras, and software that can analyze data in real-time. From 3D printers and scanners to steel-cutting lasers, conveyor belts with high-resolution cameras, and thermal process sensors, smart devices enable you to collect a ton of useful data about the machines’ performance and productive lifespan. You should also plan on retraining team members so everyone is on the same page with your new strategy.

The International Data Corporation (IDC) predicts that by 2022, 75% of enterprises will embed intelligent automation into technology and process development. The same report projects that by 2024, AI will become the new user interface, and 50% of user touches will be augmented by computer vision, natural language, augmented reality, and virtual reality. AI will be seemingly invisible, yet omnipresent. We hope the economic challenges presented by 2020 do not deter your company from pursuing sophisticated AI but instead drive you to advance and adapt. At RBT, we believe maximizing the value of ever-increasing data will separate those who lead from those who lag. Please do not hesitate to contact one of our dedicated team members today to talk about the exciting and innovative opportunities to grow your business.