I recently ran across a few statistics that reflect how AI is growing in the Manufacturing industry. A report by IDC claims that, by 2021, 20 percent of leading manufacturers will rely on embedded intelligence (using AI, internet of things and blockchain applications) to automate processes and speed up execution times by up to 25 percent. In simpler terms, 20 percent of leading manufacturers will have a competitive advantage over their competition due to the use of AI. In this case AI is directly impacting the bottom line.
Data is a companies most valuable asset today. From predictive maintenance to cameras that are programmed to detect defects, AI is providing manufacturing with the tools to utilize data to impact their companies. According to McKinsey, 50 percent of companies that invest in AI over the next five to seven years will have the potential to double their cash flow; manufacturing is leading the way due to its heavy reliance on data.
In a recent Forbes insight survey on AI, 44 percent of respondents from automotive and manufacturing organizations think AI will be important to manufacturing in the next five years, while almost half (49 percent) said it was critical to success. Aime Lachapelle, of Emerton Data, says that 85 percent of the companies they surveyed aim to implement AI into their production processes. However, less than 30 percent have an AI development plan. The problem isn’t the importance the issue is where do you get started. Clear Intelligence is able to take you from ideation to implementation, what differentiates us is that we are able to be your system integrators pulling all of the components of your unique solution together. It can be intimidating on determining where to start with your AI research. We offer a 30 minute discovery call where we get to know your company’s processes and goals, and then inform you on the options you have and results you could expect to see from incorporating AI. Contact us today to register for your free 30 minute discovery call.