A new era for manufacturing with AI | Discover Artificial Intelligence with Angeliki Dedopoulou

Summary Transcript

Artificial Intelligence is changing what we buy, how we produce - and what we expect producers to sell: with AI applied to manufacturing, customisation and prediction of consumer behaviours - and wishes - are becoming the norm.

Discover Artificial Intelligence with our expert, Angeliki Dedopoulou, and find out how AI is changing manufacturing - unlocking massive economic opportunities for Europe in the process.

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Hello. My name is Angeliki Dedopoulou, and in this episode we will see actually the potential of artificial intelligence in the manufacturing sector.

Industry is a pillar of the European economy, with the manufacturing sector accounting for 2 million enterprises, 33 million jobs and 60% of productivity growth. Recent studies estimate that the digitisation of products and services can add more than 110 billion euros of annual revenue to the European economy in the next 5 years.

Artificial intelligence plays an important role here. For example, it can help in mass customisation and predictive maintenance. Research from Accenture shows that, by 2035, AI-powered technologies could increase labour productivity by up to 40% across 16 industries, including manufacturing. Manufacturing is becoming a fully connected intelligent industry.

Industrial predictive maintenance solutions collect and transmit data in real time to reduce the need for physical inspections, helping at the same time manufacturers predict the next failure of a part machinery system. So, AI algorithms can be used to predict production faults and maintain high quality outputs, helping at the same time to improve quality standards through immediate detection and anticipation of production issues.