As previously published on Automation World
Lately, it seems like everyone is talking about artificial intelligence (AI) and machine learning. As a matter of fact, IDC has predicted that AI spending will increase from $12 billion in 2017 to $57.6 billion by 2021. While large, multinational industrial companies have already started embracing AI to stay competitive, it’s time for small and midsize industrial companies to start thinking this way too.
As companies continue to amass data created from production systems with the rise of IIoT, many are finding that the insights collected are more than they can handle. Data analytics itself is not enough—the data needs to be used to drive operations forward. Here is where AI will play an increasingly significant role.
To effectively utilize the power of AI, your initial point must be to get your infrastructure up to speed. This generally involves upgrading your networking so that information can flow easily to the systems processing it at the edge. Then you can deploy sensors to collect data and the analytics to make sense of it. From there, data scientists will be brought in to implement optimizations to assist you with fully benefiting from AI’s advantages.
Many industrial enterprises are just starting to dip their toes in the AI waters. However, with the pace of digital transformation happening across various industries, it’s necessary to start thinking about how AI can be used in your business today.
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