“AI is no longer a futuristic concept — it’s a practical tool for solving real business problems today.”
Introduction:
In 2018, the industrial sector was abuzz with talk of a $1 trillion opportunity that artificial intelligence (AI) could unlock. The pandemic may have slowed those plans, but today, in a post-pandemic world, the need for AI is more critical than ever as companies seek resilience, technological enablement, and growth. The excitement around AI has only grown since the rise of tools like ChatGPT.
Yet, despite the clear advantages AI offers, many executives are hesitant, unsure of where to begin or how to apply AI to achieve real bottom-line impact.
The best way forward is for the executives to establish a clear direction and roadmap, focusing on areas where AI can address specific business problems and deliver tangible value. By first deepening their understanding of AI technology, industrial leaders will be better equipped to experiment with new applications.
Let’s look at a roadmap that they can follow –
Defining AI in the Industrial Context:
AI isn’t just a buzzword—it’s the key to transforming complex industrial challenges into data-driven solutions. From optimizing production schedules to enhancing knowledge work, AI’s ability to augment human capabilities is game-changing.
Accelerating Problem-Solving:
AI can revolutionize scheduling processes, as seen in a metals manufacturing plant where yield losses were reduced by 20-40% while improving on-time delivery. This is just one example of how AI can optimize operations and drive efficiency.
Enhancing Knowledge Work:
Engineers often find themselves data-rich but insights-poor. AI can change that by drastically reducing data screening time and unlocking productivity gains of 10-20%. AI-powered knowledge graphs help engineers quickly find relevant information, speeding up problem-solving.
AI-Enabled Product System Design:
AI can simplify complex product designs, especially in the aerospace and automotive sectors. By augmenting product data and identifying opportunities for part reuse, AI reduces engineering hours and accelerates production timelines.
What we need to understand is, AI is no longer a futuristic concept — it’s a practical tool for solving real business problems today. The key is to start small, experiment, and gradually integrate AI into your core business processes. The future is here, and it’s powered by AI.
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