AI and Machine Learning for Manufacturing Industry: Use Cases

Manufacturing industry has always been available to embrace the innovative technologies. 81% of the manufacturers have already embraced some type of transformational technology to digitise business processes. The global AI in Manufacturing Market is expected to reach $15.2 billion by 2025 from $513.6 million in 2017, growing at a CAGR of 55.2% as per Allied Market Research. Unplanned downtime costs manufacturers an estimated $50 billion annually, and the asset failure is the cause of 42% of this unplanned downtime.