Years ago, machine learning – a subset of artificial intelligence (AI) – got its start when researchers explored the theory that computers could learn from data without being programmed to carry out specific actions, according to SAS. Today, machine learning has evolved considerably and is transforming a wide range of industries that handle large quantities of data.
Previously, we discussed how machine learning is making a big difference in the healthcare field, revolutionizing everything from electronic health records to population health monitoring and the process of diagnosing patients.
Another industry where machine learning is driving significant change is manufacturing. This new technology is helping manufacturers optimize operations, improve product quality, and more, according to the Forbes article “10 Ways Machine Learning is Revolutionizing Manufacturing in 2018.” Here’s a quick overview of some of the most notable ways machine learning is changing the manufacturing industry.
1. Better quality control and enhanced Overall Equipment Effectiveness (OEE). OEE is a metric that assesses the performance, availability and quality of assembly equipment, according to the Towards Data Science article “How Machine Learning (ML) IS Transforming Manufacturing.” Deep learning neural networks can efficiently identify issues and weak spots in the assembly machines. This helps keep the equipment in better working order and allow for greater productivity, efficiency and production quality.
2. Yield enhancement and decreased scrap rates. With the power of AI, manufacturers can drive both scrap rates and testing costs down by connecting variables from different sub-processes and machinery groups, according to the McKinsey report “Artificial Intelligence (AI) – What’s in it for Germany and its Industrial Sector?”
3. Real-time insights into shop floor operations. The combination of machine learning algorithms and real-time monitoring can offer visibility into how every machine’s load level affects production schedule performance, according to Forbes.
4. Improved supply chain operations. AI and the Internet of Things (IoT) can enhance supply chain management and visibility. Machine learning can significantly improve forecasting accuracy (with a potential 20 to 50 percent reduction in forecasting errors), optimize stock replenishment, and allow for greater granularity, according to McKinsey.
5. Research and development (R&D) project cost containment. Machine learning can make it possible to carry out higher performance R&D projects, with predicted cost reductions of 10 to 15 percent, according to McKinsey.
These are only some of the ways that machine learning is changing the manufacturing industry. If you’d like more information about AI, machine learning, and IT support for companies in the manufacturing field, contact our team of expert techs today by calling 877-599-3999 or emailing firstname.lastname@example.org.