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AI Automation To Enable Smart Manufacturing

By Sachin Andhare

Heavy industries such as Steelmaking are ramping up digital transformation initiatives to improve throughput, efficiency, safety, and reliability of their operations. Metals, mining, and machine tool building companies are embarking on multi-year journeys to digitize operations by adding connectivity, automation, and advanced analytics.  According to McKinsey, most heavy-industry sectors are at the middle stages of digital maturity (Digital 2.0) relying on rule-based automation and distributed control systems.  Some have made progress in digital maturity (Digital 3.0) and are using collaborative robots and advanced process control systems. However, a few digital pioneers are leveraging AI Automation and applying Machine Learning (ML) to operational data (Digital 4). These digital leaders offer powerful lessons that others can emulate and follow to successfully deploy ML at scale.  Drowning in Sensor Data  With the ubiquitous sensor network and pervasive connectivity in industrial manufacturing, data from production machines has continued to grow at an unprecedented scale. …

Top Industries Where AI Applications Are Creating Value (Part 2)

By Sachin Andhare

According to a recent Adweek survey, two-thirds of business executives say COVID-19 hasn’t slowed AI projects. Some 40% said that the pandemic even accelerated their efforts. While the economic activity and business sentiment has deteriorated over the past couple of months, the scope of AI has expanded, the biggest impetus being decreasing costs, improving performance, and increasing efficiencies. So which industry verticals are embracing AI and what are the top applications? In the previous post of this two-part blog series, we discussed how AI is transforming industries, enhancing performance across a wide range of applications in Banking, Fintech, Healthcare, and Industry 4.0. In this final part, we look at the remaining industry verticals along with top enterprise applications:Insurance: Mckinsey’s latest research report on the Insurance industry noted that in the wake of the global pandemic, the insurers should invest in digital and analytics capabilities to make them more customer-centric, simple,…