TECHNOLOGY
42
When it comes to predicting future business trends numerical data has always been king ; gathering as much of it as possible and developing the most sophisticated algorithms to digest it . Artificial Intelligence ( AI ) has turned this on its head , and instead of being focused on figures , the whole idea revolves around it being trend or word-led .
Rather than gathering as much historical data as possible to predict the future , AI can monitor changing trends and habits in real-time to give a more accurate , wider reaching view of what is to come for manufacturers . This includes monitoring what is being said across social media and other print and digital media . In this way , AI is much more reactive to ever-evolving global conversations and can turn this into actionable insights for businesses to develop more intelligent strategies .
But this is nothing new ; when it comes to AI , manufacturing is much more sophisticated than many other sectors . For an industry challenged by tight margins , it has needed to become very tech savvy to deliver against targets .
Many manufacturers are already way down the line with automated processes such as Robotic Process Automation ( RPA ), which removes the human element from decision-making . Many factories are adopting a ‘ lights off ’ approach and as a result , are seeing increased levels of
FEBRUARY 2019