Use of Artificial Intelligence in Advanced Production

New digital technologies are essential to raising living standards and countering the declining labour productivity in many countries.

FREMONT, CA: Raising living standards and reversing the recent decline in labour productivity in several OECD nations would require developing new digital technologies. Increasing labour productivity is more critical than ever because of the world's population's rapid ageing—the dependence ratio in the OECD is projected to quadruple over the next 35 years.

There are numerous ways that digital technologies might boost workforce productivity. For instance, intelligent systems can minimise machine downtime because they anticipate maintenance requirements. With more autonomous, interactive, and affordable robots, they can also complete tasks more quickly, precisely, and consistently. New digital production technologies will also help the environment, such as opening up the prospect of zero-defect production in some sectors.

Recent improvement in the discipline has primarily come from advanced deep learning utilising artificial neural networks. As a result, AI may be used for most industrial processes, from improving industrial research to optimising multi-machine systems. Furthermore, automated ML procedures that can aid companies, researchers, and other users in more easily utilising the technology will encourage the usage of AI in production.

The most lucrative applications of deep learning and artificial neural networks for advanced manufacturing are anticipated in supply chains, logistics, and process optimisation. According to survey results, the sectors of transportation and logistics, automotive, and technology are leading in the percentage of businesses that adopted AI early.

AI in logistics enables real-time fleet management while considerably lowering fuel consumption and other costs, in addition to its direct uses in manufacturing. AI can also reduce data centre energy usage. AI can also help with online security. For instance, several software companies are developing AI systems that can detect when text is likely to be a password, preventing unauthorised online sharing of passwords. Numerous social-bot start-ups also automate expenditure management, business data and information retrieval, and meeting schedules. Finally, AI is coupled with other technologies to improve workforce training, including augmented and virtual reality.

Similar to how the discovery of the deoxyribonucleic acid (DNA) structure in the 1950s sparked a revolution in industrial biotechnology and generated enormous economic value (the global market for recombinant DNA technology is estimated to be worth USD 500 billion), AI may also enable the creation of entirely new industries based on scientific breakthroughs.