4 Ways Artificial Intelligence Is Transforming Manufacturing Industry


The C-suite executives of manufacturing industry are under immense pressure to innovate and find new streams of revenue as unplanned downtime, labour costs and other legacy systems/processes are killing the productivity and growth of businesses.
If you are a CEO or a CIO of a manufacturing or a processing company yet to decide on investing in Artificial Intelligence and wondering what would be the RoI, you are not alone.
However, it’s high time to invest in a next-gen technology like Artificial Intelligence as this offers a plethora of benefits to any industry.
Today, top-level executives of manufacturing industry are investing in AI to improve operational efficiency, productivity, performance. From achieving significant cuts in downtime to generating better-designed products and improving the safety of employees, AI is truly evolving manufacturing.
In a Forbes Insights Survey on Artificial Intelligence, 44% of respondents from the automotive and manufacturing sectors classified AI as “highly important” to the manufacturing function in the next 5 years, while almost half, 49% said it was “absolutely critical to success.”
 According to marketsandmarkets, Artificial Intelligence in the manufacturing market is expected to grow from USD 1.0 billion in 2018 to USD 17.2 billion by 2025.
AI in manufacturing
(Source: MARKETSANDMARKETS)
The key is to take advantage of this trend in time to ensure that your company does not lose out to the competition. The scope of application for artificial intelligence in manufacturing is remarkably vast –from real-time maintenance of machinery to better supply chain models that allow your company to adapt to an ever-changing market.
So let us look at some of the key benefits of AI in manufacturing.

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