3 Ways Artificial Intelligence Technology Helps Manufacturers

 August 21, 2020     UFG Insurance    Business  Read Time: 3 min
AI technology for manufacturers

Welcome to the age of artificial intelligence (AI) in manufacturing. 

Accenture and Frontier Economics predicts that AI technologies will boost labor productivity by 40% across 16 industries, including manufacturing by 2035. As assets that drive your processes become more expensive to repair and downtime becomes more costly, the advantages of new technologies become that much more appealing. 

If your manufacturing facility is already using AI, then good for you. Whether or not we like AI, it’s here to stay—especially in manufacturing. 

Here are three ways artificial intelligence technology can help manufacturers. 

Quality and maintenance checks 

There are many cases where issues can arise that are not particularly visible to the human eye. By using AI to inspect typical products in your manufacturing plant, you are providing a much more thorough, and perhaps more accurate, analysis than would be possible through the use of human experts. Think of AI as the always-on eyes and ears of your facility. 

Missed quality and maintenance checks can lead to faulty workmanship—something manufactures don’t always plan for. Here are a few claims examples that will make manufacturers want errors and omissions (E&O) insurance coverage.

Decreasing environmental impact 

It is no secret that electronic operations, specifically manufacturing, can have a negative impact on the environment. Although many manufacturers are doing good work to offset their impact, sometimes it’s not enough.

Negative environmental contributions include the extraction of nickel, cobalt and graphite for lithium-ion batteries, along with increased production of plastic and e-waste. However, with artificial intelligence there is potential for actually reducing and even reversing these effects. Google has already shown this through their use of optimizing energy efficiencies and developing eco-friendly materials in its data centers. 

Worker productivity and safety

This might seem too obvious, but there’s likely many aspects of productivity you’re not thinking about. AI can help monitor and measure worker output, plus it can offer optimization suggestions that benefit productivity. The technology can also help transform the way people interact, communicate and collaborate, which could greatly assist maintenance crews and field operations. Also, AI robots can tackle high-risk work so humans can focus on less-risky tasks. This could end up producing less accidents in warehouse and manufacturing facilities. 

Above all, we want to give you custom options of handling your manufacturing business insurance. If you were hesitant to consider the value of AI in your business, we hope this information illustrates how much the manufacturing landscape is changing.

Check it out: UFG Manufacturing Insurance Coverage

 

The information provided is for informational purposes only. Every attempt is made to ensure that the information is accurate; however, it is not intended to replace professional advice. For more information, see Disclaimers & Other Legal Documents.