The manufacturing sector has always paced itself to incorporate the right technology solutions that accelerated operations and brought in high returns. The early stages of the industrial revolution saw the establishment of heavy industries. Large deposits of coal and fuel made it possible to set up heavy engineering divisions that were capital-intensive and required large scale infrastructure and large machine tools. Traditional technology drivers operating these heavy industries consisted of gears and rotating parts. Chemical, Electrical, Ship Building, Irrigation, Locomotive, and Steel are some of the heavy industries that laid the foundation and provided the basis for subsequent technological innovations. With the emergence of software, manufacturers bet big on robotics — this gave birth to continuous production and large-scale production lines. In a way, the manufacturing sector was and continues to be responsible for many of the technological innovations that have changed the world, and which culminates today in what can be termed as Industry 4.0.
Industrial Internet of Things (IIoT), AI and Machine Learning, Augmented Reality (AR), Embedded Systems are some of the emerging technologies that dictate today’s Industry 4.0. These digital innovations are bringing real, critical disruptions to processes, systems, and the traditional productivity levers, namely human engagement and labor. Digital transformation essentially unlocks value from people, processes, and systems to facilitate connectivity, intelligence transfer, and operational flexibility between them.
We’ll look at a few of these emerging technologies as they promise to cause critical disruptions that will change the way business is done:
If we are to just look at the statistics concerning intelligent automation of document-based workflows, the returns are almost immediate and promising — as noted in the 2020 Levvel Research, 55% of respondents vouched for increased employee productivity and a drastic reduction in paper invoice volume thanks to an automated payables solution. A further 45% noticed improved visibility into unpaid invoices while 53% were happy with the significantly lower AP processing costs. These are the very metrics manufacturers are hoping to bank on, as is documented in this interesting Case Study on why more and more manufacturers are turning to intelligent process automation comprising AI and Machine Learning for all their belt-driven and chain processes.
Technological innovations will be a constant as long as businesses, workers, and the larger manufacturing ecosystem seek better ways to engage in production of goods and services. The differentiating factor between the leaders and laggers is the speed at which one assimilates, adopts, and deploys these emerging technologies for accelerated business outcomes.
Looking to embrace Industry 4.0? Start by streamlining your mission critical processes. Artsyl will tell you how — Contact US for immediate consultation and product demo.