Technologies transforming the Manufacturing Industry in 2018
Industry 4.0 brings with it opportunities for change and manufacturers are investing in technology to compete and win in the global marketplace. Each day connectivity increases as manufacturers find new ways of incorporating new technologies to increase quality, efficiency while maximizing production speed and reducing overall operational costs.
Adapt or Die
Businesses realize the need to change to survive in this environment. The market keeps churning out new and more exciting technologies that help to transform the industry. These technologies are not only bringing new capabilities but are also turning manufacturers into digital companies that draw better insight out of data and convert it to intelligent action. There are many of these new technologies and some that have been in the market for some time and changing the status quo. They include cloud, mobile, big data & analytics, Internet of Things and many others. Technology empowers manufacturers to be more cost-effective, and more environmentally sustainable. Thus, they have developed higher expectations for technologies that are in earlier stages of adoption, such as robotics, cognitive computing/artificial intelligence, 3D printing,augmented reality/virtual reality and even blockchain. We compiled a few of the trending technologies in the manufacturing sector. These technologies are making the common challenges manufacturers face each day to become a thing of the past.
Gone are the days when every machine had to have a human being operate it. We are finding the use of complicated technologies and robotics that are just as capable as we are. Businesses are focusing more on complicated initiatives, such as in-line predictive production quality, that require complex algorithms and generate even greater benefits.
According to IDC, 60 percent of the top manufacturers will rely on digital platforms to enhance their investments and support nearly 30 percent of their overall revenue by 2020. These digital platforms will be leveraged for both the enterprise value chain and the extended supply chain. They allow for flexibility and have yielded top results for top for executives who continuously look for ways to make their teams more productive. They have dramatically improved manufacturing performance for many companies at many points along the way and they will be critical hubs for the incorporation of key emerging technologies.
Cloud was previously seen as unsecure and only for the bold. However, this is changing, and many companies are now finding that operating from the cloud has more benefits than on premise. The cloud trend is driven largely by the Internet of Things, which connects equipment and processes in real time and improves decision making and operational efficiencies. Its features allow for easy sharing, access from anywhere and security which is easily appealing to many businesses.
Artificial Intelligence and Robotics
Advanced analytics and technologies such as artificial intelligence, cognitive computing and the internet of things have gotten tongues wagging lately. They are a big topic of interest and understandably so, as the return on investment is impressive. We now have smart connected sensors, digital networks, and other ways to collect and move data to the analytics systems, thanks to these advancements. Although they have been accused of possibly shrinking the workforce, the substantial results they have on production cannot be ignored. Looking back the manufacturing industry has come a long way. Since manufacturers are no longer slow to converge or react to the Industry 4.0. We can expect more exciting new inventions ahead as
manufacturers try and find environmentally friendly ways to keep production going and better react to customer demands. Learn more about Digital Transformation and Manufacturing Industry 4.0 by downloading our ebook.