AI, Algorithms, and Driving Value Across Production

Article by Bettina Warburg

Artificial Intelligence (AI) has already contributed to an economic march towards unprecedented efficiency and agility. However, as transformative as the technology is, it doesn’t function in a vacuum. Currently, AI tools remain tethered to human guidance and accompanying innovations.

Making Business More Efficient

Nearly every industry offers examples of AI making production processes faster and more accurate. Take for example IPsoft. The platform has recently developed an AI platform named Amelia that radically improve a company’s knowledge base.

Not only can Amelia read at ten pages per second, devouring cumbersome office manuals that a typical employee dreads opening, but the platform also learns through observation. It analyzes workers answers to questions that it finds challenging, codifying those answers into her database for later use. To understand the value proposition of these tools, let’s take engage a hypothetical: an engineering team is tasked with fixing equipment in a remote location. By having access to Amelia, the team simply asks for information concerning the issue, isolate possible causes, and suggest a series of fixes organized by the probability of success.

A Better Supply Chain

The most efficient and effective supply chains go unnoticed and flex around any issues that arise. These tasks make supply chain logistics complex and data-heavy, presenting fertile opportunity for AI enabled tools.

Recently a joint venture that includes Cisco and Rockwell Automation designed a forward-looking factory that incorporates AI and IoT technology. The machine learning at its heart establishes an entirely synced system that foresees and addresses issues before they occur and effortlessly changes course on an as-needed basis. As the marketplace continues to embrace similar solutions over the coming years, factories and warehouses will become increasingly automated and accomplish tasks far more efficiently. Manufacturing errors will plummet and production rates increase.

AI tools offers numerous means to transform commerce and logistics, creating new and unparalleled value along the way. Those that lead the charge to adopt this tool will maintain a competitive advantage that few can match.

If you are interested in learning more on this topic,  be sure to download the Animal Ventures Asset Chains report.