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With 91.5% of leading businesses investing in AI on an ongoing basis, companies that refuse to embrace the future may find themselves being outpaced by competitors. As artificial intelligence offerings continue to expand, companies will need to increase their use of technology in the workplace to maintain relevancy in the competitive industrial sector.
By 2030, it’s thought that AI will make up $15.7 trillion of the global economy, and it is expected to have a particularly profound impact on manufacturing in the coming years. Here is how AI is shaping the manufacturing sector in 2022 and beyond.
Augmented reality, or AR for short, is quickly becoming a vital tool in industrial organizations. This futuristic technology has become much more accessible in recent years, to the point where even small and medium-sized businesses are looking to implement it in their operations. Is augmented reality really necessary for industrial companies, or is it a short-term fad that will fade out? We’re going to examine how industrial businesses are using augmentation today.
Most modern tech companies were built upon a digital foundation. However, manufacturing has long fallen behind in this regard. Due to its emergence before the rise of big data and advanced computing power, few aerospace and defense industry companies have succeeded in going fully digital. Nevertheless, those that have done so find themselves reaping great rewards today. Fortunately, it’s not too late for your company to catch up. Every business can achieve a digital transformation with the right tools.
Like other branches of industry, aerospace companies are quickly adopting industry 4.0 technology. Innovations in computers and data analytics in the past decade and a half have brought forth a brand new model of industry. Some are even calling it the fourth industrial revolution! These digital transformation trends cannot be ignored if you want to remain competitive. But what does a digital transformation in aerospace involve, and why is it necessary to start now?
The more an industrial operation can leverage automation, the more profitable it will be. Industrial enterprises worldwide have recognized the value of industrial automation, and many are racing to automate as many tasks as possible. Likewise, companies have seen a need to add renewable energy to their infrastructure. This raises an interesting question: how can automation and renewable power work together? These two technologies have a synergy that few others can rival.
Energy production companies have operated under similar conditions for nearly a century. Oil and gas extraction, refinement, and subsequent energy generation have not changed dramatically since their inception. Granted, new technology has made these processes more efficient, but they are still overwhelmingly analog businesses. It’s time for this sector to make the leap and complete a digital transformation. The most successful players in the industry have already done so. How can your company make the transition to a digital environment?
Industrial businesses are constantly squeezed by ever-tightening margins as rising costs threaten profitability. However, many companies struggle to find ways to cut costs while still holding onto their value human capital. Given that raw material costs are entirely out of your control, and your operations require constant financial support, where can you find savings? Optimizing your power consumption with industrial automation can have a major impact on your bottom line and help your business weather future events.
New technologies have made it possible for industrial operations to reach greater energy efficiency levels without making major changes to their workflow. Best of all, automation technology provides other benefits besides reduced energy use.
Going completely digital should be every company’s goal going forward. Many businesses have already seen the value of going digital and are in the middle of their transition. However, there are many obstacles to your digital transformation. If you don’t address these before you implement new processes, you could create problems that will be much harder to solve in the future. That’s where digital transformation consulting comes in. With the help of an experienced team, you too can go digital.
Artificial intelligence is more accessible than ever before. It’s also more useful than ever thanks to new applications for businesses of all kinds, including industrial companies. One such application of AI is machine condition monitoring. By tracking a machine’s condition through sensors, AI-based software can predict when a machine will need maintenance and even take action to prevent failures. We expect this technology to continue to spread as more companies adopt it. Here are some of the trends to follow.
A reliable condition monitoring system can completely transform your industrial operation. You can optimize your maintenance schedule by focusing on the machines that actually need maintenance rather than following a routine that may result in redundant efforts. Even better, you can schedule maintenance for more convenient times. In addition, you can predict when machines are likely to need repair or replacement by gathering data over time. Monitoring your machines’ condition is essential to gain a competitive advantage.
While some modern machines have monitoring components built in, you don’t need to upgrade your factory floor. You can retrofit older machines with specialized instruments at a fraction of the price. An investment in condition monitoring technology yields significant returns due to the relatively low initial expense and massive potential for long-term savings. So, what do you need to make it possible? Let’s look at the most important instruments in a monitoring system.
Automation continues to press onward thanks to advances in computing technology. Thanks to the proliferation of artificial intelligence, specifically machine learning, visual data processing has never been more powerful. Essentially, computers can see now. And they can use what they see to make decisions faster than any human could. With machine vision systems, you can bring that technology to your business. To better understand these systems, let’s take a closer look at how they work.