EVEN AS THE DISRUPTION CAUSED BY THE pandemic in the manufacturing and supply chain industries makes companies hold back investment in high technology; leadership teams continue to look for Artificial Intelligence (AI) to address their revenue generation and cost effectiveness concerns.
“A large number of manufacturing companies, and supply chains as a collateral, have had to halt their operations. Many SMEs and large manufacturing plants have halted or postponed any new technology upgrade in their factories in order to recover from the losses caused by the lockdown and economic slowdown,” says Sangram Kadam, Vice President and Head (APAC and META) at Birlasoft.
At the same time, 94% of the 200 chief executives surveyed in India by PwC in August-September 2020, affirmed of either having adapted or planning to adopt AI in their organizations.
Talking to industry experts about challenges in adaptation of new technologies in the background of the disruptions caused by pandemic, some issues find common resonance.
Inability or inattention to quantify benefits of adaptation of new technologies in terms of ROI, unavailability of applicable data, shortage of talent, disparate incompatible nature of the data available, inadequate storage facilities and slow response time are some of the issues that find common resonance among industry watcher. Extent and pace of digitization in the country, inadequate availability and training of talents, privacy and security concerns and employee resistance to change are some of the other challenges, it is felt.
QUANTIFICATION OF BENEFITS
This story is from the June 2021 edition of Manufacturing Today.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the June 2021 edition of Manufacturing Today.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Precision Revolution
Exploring the fusion of Machine Learning and CAD/CAM Technologies, Shriyal Sethumadhavan delves into the transformative impact of AI integration in manufacturing.
Empowering MSMEs
In conversation with Amit Mande, Chief Revenue Officer, U GRO Capital
Fornnax unveils SR-200 HD recycling innovation
Fornnax Technology continues to expand its portfolio of high capacity lines and debuted an upgraded variant of primary shredder.
Transforming manufacturing and product development
India's manufacturing sector, currently contributing 17% to the GDP, is expected to be one of the key drivers of growth for the country.
Transforming E-commerce: How LLMs are changing visual content
LLMs reshape e-commerce with captivating visuals, balancing benefits and drawbacks of authentic content in the digital retail arena
An intelligent move
Dive deep into the future of manufacturing as we explore the transformative power of intelligent technologies revolutionising the industry.
Meeting India's data centre cooling demands
Schneider Electric inaugurates state-of-the-art cooling factory in Bengaluru
The gender matters of manufacturing
Does the manufacturing industry suffer from a gender gap?
Navigating India's manufacturing landscape
Jibak Dasgupta, Director General and CEO, Indian Machine Tool Manufacturers' Association's view on the influx of investments and the manufacturing landscape
A decade of 'Make in India': The foundation for building a manufacturing powerhouse
As India experiences profound economic growth, it has emerged as the second most sought-after manufacturing destination in the world, contributing 13.9%1 to the economy.
