It is no secret that today industries like banking, retail, and gaming rely highly on artificial intelligence. Now the race is being joined by manufacturing as well. With this, industrial automation is becoming more and more of a possibility today.
Manufacturing is amongst those few industries that continue to grow throughout the various stages of the economic cycle of the market.As per an article by Dave Prager on artificial intelligence (AI) and manufacturing, manufacturing accounts for approximately 15% of the global GDP and amounts to roughly $12 trillion in yearly revenues. And that is HUGE.
More than 130 Million containers are shipped every year – transporting goods from all corners of the earth. Tracking these containers through logistics facilities such as ports, warehouses, ICDs, CFS, etc. is still a major challenge.
We, being techies, believed that with digitization revolution of the past 20 years along with recent IoT revolution – we would find shop floors utilizing artificial intelligence and being fully automated or on the verge of being so.
Indian manufacturing is the 5th largest in the world and is projected to touch 1 Trillion USD in a couple of years, but the dream is to be the Global Manufacturing Leader.
Software Ate the World, Now AI Is Eating Software. Traditionally, enterprise software was mostly sold as a service – where service providers used to charge for the time it took the software developers to first develop and then maintain a custom solution for a client.