4 minute read

Can AI Save Our Manufacturing?

Can AI Save Our Manufacturing?

by Christian Hunter Sales Engineer at In-Position Technologies

There are few events that have been more impactful on the global society than COVID-19. The spread of that disease was so world-changing that much like the birth of Jesus Christ we commonly use it as a reference for events – did that happen before or after COVID?

COVID-19 has had long-lasting effects on the manufacturing industry –

• Manufacturing position vacancies have skyrocketed from 482,000 in June of 2019 to 810,000 in December of 2022

• Vacancies have created supply chain issues which has contributed to a U.S. inflation rate of 6.5% in 2022 compared to 2.3% in 2019

• Inflation has helped drive a 10% increase in wages since 2019

• Increased wages have made it increasingly difficult to retain talent and stay competitive in the marketplace

• Inflation, supply chain issues and labor shortages are among factors contributing to ongoing fears of a looming recession

AI is everywhere - AI to unlock your phone with facial recognition, AI to protect you from banking fraud, AI to control your thermostats, manage your entertainment preferences, determine your clothing style, AI to increase your social media following. The list goes on. AI adoption is exploding.

But can AI-powered products be the solution to our manufacturing problems?

According to a poll of manufacturing executives conducted by Forbes and Xometry - 58% of manufacturers are planning to invest in AI in 2023 to tackle the forementioned problems.

But how is AI being used in manufacturing? As an exercise, I asked the viral AI tool ChatGPT. Its response is in italics.

Hey there! As an AI language model, I have a unique vantage point on how artificial intelligence (AI) is changing the manufacturing industry. It’s amazing how AI is being used in different areas to improve the way manufacturers operate.

1. Predictive Maintenance: A manufacturer or end user of machinery could use an AI-powered predictive maintenance solution that analyzes data from machine sensors to predict when maintenance will be required. This helps them avoid unexpected downtime and reduce maintenance costs.

2. Quality Control: A manufacturer of consumer goods could utilize an AI-powered computer vision system for quality control, allowing for faster and more accurate identification of defects. These AI powered vision systems have advantages over traditional machine vision because they can inspect qualitative defects and make judgements similar to human operators.

3. Inventory Management: An electronics manufacturer could use an AI solution to optimize their inventory levels by analyzing data on demand and delivery times, reducing waste and improving efficiency.

4. Customer Service: A manufacturer of home goods could implement an AI-powered chatbot to provide quick and effective customer service, freeing up human customer service representatives to focus on more complex issues.

5. Sales and Marketing: A fashion manufacturer could use AI to gain valuable insights into customer preferences and behavior, improving their sales and marketing efforts.

6. Product Development: AI algorithms are used to analyze product design idea to identify potential design flaws and create better products with less trial and error. AI is also used for virtual prototyping which allows for faster and more accurate product development while also reducing waste. AI can also be used to analyze customer data and create custom product designs. This allows manufacturers to create products that are more appealing to customers and can drive sales and customer loyalty.

These are just a few examples of how manufacturers can benefit from AI. It’s important for manufacturers to choose AI solutions that fit their specific needs and are easy to implement and use. By doing so, they can maximize the benefits of AI and stay ahead of the curve in an increasingly competitive marketplace.

Impressive right? This response was generated in less than 30 seconds and probably cut the time I needed to write this article in half.

It may be dramatic to say AI is going to solve all of our problems, but one thing is clear: it can be used as a weapon against a tough labor market, rising costs and supply chain issues. If you aren’t part of the 58% of manufacturers investing in AI, you will likely fall behind in an increasingly competitive marketplace.

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