AI forging a smarter manufacturing future

As the manufacturing industry undergoes a seismic shift, adoption of digital technologies like artificial intelligence (AI) is no longer optional but imperative to improve productivity, reduce costs, enhance workplace safety, and stay competitive.

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In India, the manufacturing sector in the country is poised for significant growth, with its contribution to the Gross Value Added (GVA) expected to rise from the current 14 per cent (USD 459 billion) to 21 per cent (USD 1,557 billion) by 2032. Government programs like Production Linked Incentives (PLI), economic corridors, and incubation centers for Industry 4.0 are further aiding manufacturers drive efficiency and quality. The adoption of cutting-edge technologies and economies of scale have been encouraged by the substantial investments drawn by this performance-driven approach from both domestic and foreign players.

As data is largely underutilized in most factories, with approximately 90 per cent of manufacturing data going unused, there is enormous potential for manufacturers to employ data analytics to derive meaningful insights from their data. As vast amounts of data are being generated, AI can be leveraged for predictive maintenance, identifying anomalies in production processes, and managing decision-making. Manufacturing businesses can harness AI to optimize production processes, enhance asset and IT management, unlock the full potential of data, and streamline customer experience among others.

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