Most of us are aware of the potential benefits machine learning and artificial intelligence have to offer. We’re already seeing the use of AI-enabled technology in our everyday lives, from smart assistants like Siri and Alexa to email spam filters and smart replies.
It’s not too far-fetched to say that manufacturing – or any industry, cannot function without software. Manufacturing software is especially relevant at a time where manufacturers are seeking out ways to streamline core processes and drive efficiencies.
Thousands of customers travelling through Melbourne Airport each day are unknowingly enjoying a smoother airport experience, thanks to a ground-breaking real-time data integration solution which has turned heads in the tech industry.
Manufacturers are definitely the underdog in the game of consumer buying. With ever increasing pressure to reduce production costs coming from both global competition as well as consumers with powerful voices, manufacturers are really under the pump.
The interconnectivity of the Industrial Internet of Things (IIoT) is formidable. So many components seamlessly working together produce a bounty of positive outcomes for a company. Making better business decisions, uncovering inefficiencies and being proactive in mitigating risk are just a few of the benefits it brings. However, like all developments in technology, the good comes with the bad. In this case, endpoints are becoming gateways for breaches. And as the IIoT really cranks it up a notch, these attacks are on the rise.
The year 2009 was tough. Different sectors of economies all over the world were still reeling from the effects of the GFC, and manufacturing was no exception. In Australia, the ABC reported that manufacturing made up only 9% of GDP, down from 27% in 2008.
Manufacturing is littered with buzzwords at the moment, the promise seemingly outweighed by the hype.
At the end of last year, The Australian Industry Group (The Ai Group), released their annual business strategy report.
The Australian manufacturing industry is changing rapidly. It has to contend with the tides of globalisation, rapidly developing technology and increasingly sophisticated customers who are demanding more bang for their buck. Manufacturers need to find the sweet spot, walking a fine line between keeping costs lean and allowing for flexibility. Otherwise, the consequences can be dire.
In all businesses, it is important to strategically change and adapt with technology. What at first will delight your customers will soon become the baseline expectation.