Manufacturing high-quality products at minimum cost is the goal for most companies. Industry 4.0 initiatives promise to get us closer to this dream than ever before. Despite being in varying stages of implementing a digital strategy and digitising operations, many in the manufacturing industry are seeing the huge opportunities these initiatives offer. One of the most talked about initiatives is artificial intelligence (AI).
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.
Driving continuous improvements and efficiencies is a priority for most, if not all, businesses. Digital technologies are providing us with more data and intelligence than ever before, helping to drive better decision making. Our ability to utilise data collection, predictive analytics and the Internet of Things is enhancing business operations in almost every industry.