ILMA Compoundings - June 2020 - 28
smooth operation of a plant to avoid
inventory buildup and delays. AI
systems will even be able to detect
weather implications and adjust
production accordingly, he said.
Data can also help companies get
ahead of potential failures. "Manufacturers' adoption of machine learning
and analytics to improve predictive
maintenance is predicted to increase
38% in the next five years," Van
Dorselaer said.
He added that, according to
McKinsey, AI-enhanced predictive
maintenance of industrial equipment
will generate a 10% reduction in
annual maintenance costs, up to a
20% downtime reduction and a 25%
reduction in inspection costs.
Increased Connectivity
Factories are already more connected
than ever before, and the smart
factories of tomorrow will seamlessly
28
JUNE 2020
| COMPOUNDINGS | ILMA.ORG
link production equipment and use a
series of sensors to monitor everything
happening on the factory floor in real
time, accelerating processing speeds
and making production even more
efficient, Uphoff said.
As a result, workers will be able
to focus more of their time on more
intellectually demanding, high-level
tasks. "This isn't the manufacturing
industry of the '40s and '50s, and
it's no secret that there's been a
talent shortage in the industry for the
hundreds, if not millions, of high-tech
jobs in the U.S.," Uphoff said.
With the innovations 5G will make
possible, there's an opportunity to
attract talent that wants to work in
a growing high-tech field. "These
aren't blue-collar or white-collar jobs,"
Uphoff said. "These are new-collar
jobs. They're still about manufacturing
a product, but they're highly advanced,
technology-centric jobs."
"Technology is consistently
advancing, but every few years,
a technology comes along that
is truly disruptive in the best
possible sense. We're currently
in such an era, and it's allowing
us to leapfrog."
Tony Uphoff, president and
CEO, Thomas
Koenig said that for countries that
lack a cheaper labor pool or experience
a shortage of workers, 5G and robotics
could usher in a new age of manufacturing capabilities, providing scale
in factories with very sophisticated
processes that harmonize the collaboration between humans and machines.
Also, AI will help create advanced
machine-learning models that can
elevate predictive maintenance and
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ILMA Compoundings - June 2020
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ILMA Compoundings - June 2020 - 1
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