Much as the steam engine ushered in the Industrial Revolution, A.I. and intelligent machines will bring unimaginable change to the latter part of the 21st Century. Visionaries suggest that A.I. is more Pandora’s Box than Prometheus’ stolen fire, with many jobs likely to be consigned to the history books and it’s already clear that the transport industry is going to require far fewer people.
It’s not all doom-and-gloom though. Pushing back against the “A.I. equals job losses” trend, a recent study by Oneserve, a field service management company, suggests that UK-based manufacturing industries that take advantage of A.I. could boost productivity by the equivalent of nearly 7 days production per annum. That might not sound like much – it’s an increase of 2.5% – but when dealing with companies that turnover millions, it’s a healthy extra margin.
It’s still early days, though. The survey asked the management of manufacturing companies about A.I. and their responses were interesting. Of the senior business leaders consulted, 93% said their workforce would be more productive as a direct result of moving towards A.I.-enabled systems….but the research also found there is a concerning lack of understanding around A.I. in the industry. Seven out of ten (72%) senior decision makers who took part said A.I. is important to the future of manufacturing, yet 67% also said the benefits are not clear.
Ideally, there’s opportunities for A.I. to reduce machine downtime, manage resources efficiently, and improve customer relations, all based on historical data analysis rather than guesstimates. The attached infographic (courtesy Oneserve) shows the impact of machine downtime in manufacturing and while the infographic is an oversimplification of the impact, the problem is still significant. Let’s hope A.I. can help keep the machines running, increase productivity and keep people in jobs.