Transforming Manufacturing: The Power of AI in Industry 5.0
By Terry Smagh, Senior Vice President and General Manager, Asia-Pacific and Japan at Infor The manufacturing and distribution industries are no strangers to innovation. Over the past decade, the Fourth Industrial Revolution has played out, bringing to bear powerful new technologies including the IoT, advanced analytics, process automation, and AI. Today, factories are “smart”, hyper-connected, and data-centric. They’re more efficient than ever, and operators are empowered to make the best possible decisions based on data-driven insights. This story is not yet complete, however. In 2024, manufacturing and distribution companies stand on the cusp of yet another operational paradigm shift. This Fifth Industrial Revolution, or Industry 5.0, will encompass a dramatic pivot towards more intelligent technology, to empower human employees to work at their most productive. Over the next few years, we will see manufacturing and distribution leaders looking to embrace AI, robotics, and IoT. They will focus on the nexus of man and machine to drive sustainability, efficiency, and more agile approaches to production. This trend has been accelerated by the advent of generative AI (GenAI). Manufacturers are already looking to integrate innovations in their factories to boost productivity and revenues. According to recent research, 35% of organisations in France use AI technologies. 72% reporting a positive impact on employee performance. How AI-Human Collaboration Solves Crucial Challenges for Manufacturing Businesses By thinking of AI as a means of empowering employees and turbocharging their productivity, rather than as a low-cost alternative for low-value tasks, manufacturers will be able to solve some of their most intractable challenges. Supply Chain Supply chain resilience is a case in point. This is an issue that has never been far from the headlines in recent years. Remember the pandemic, drought affecting the Panama Canal, or the recent attacks on shipping in the Red Sea. With the […]