RTInsights
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RTInsights

How AI Will Make Industry 4.0 Profitable

  • “The AI system is trained using data from past machine failures.”
  • “Sensors from plant equipment continuously collect data on various operational parameters that affect machine performance.”
  • “The data is collected and uploaded to data storage.”
  • “The AI-based system analyzes this data and makes a variety of recommendations while improving correctness of its own predictions.”
  • “Alerting service personnel when fault probability rises over a threshold.”
  • “Actual data from failures is led back into the AI system to improve its accuracy in the future.”
  • “A computer-based computer vision system clicks images of incoming parts or inventory.”
  • “The AI system is trained with thousands of images of parts collected by cameras in the past.”
  • “The AI system compares these images with images of actual images of non-faulty parts, thus identifying defective ones.”
  • “The defective parts are separated from the rest of inventory and discarded or sent for correction.”
  • “The defective parts are separated from the rest of the inventory and discarded or sent for correction.”
  • “The AI-based system is trained using data from historical sales, local weather events, other third-party such as social media.”
  • “The AI-based system then makes predictions for future consumer demand basis how event combinations in the past affected demand.”
  • “Expected benefits include revenue growth, owing to better matching of demand and supply, cost savings owing to lower reliance on overstocking and reduced waste.”

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