As per McKinsey’s report, around 70 percent of industrial companies are going to use AI and it’s going to reach by 2030.
Over 100 employees from 555 companies were surveyed by The Industry association Bitkom at the 2019 Hanover Fair and the result indicated that only twelve percent of German industrial companies are using artificial intelligence (AI) that are in connection with Industry 4.0. But as the trend and marketing of AI are increasing, the expectations for AI are also high that may also increase exponentially.
However, industrial companies are expecting to increase their productivity to improve predictive maintenance and repair it. This helps in optimizing the production and finally the manufacturing processes. The participants also mentioned increasing the investment to about five percent of the digitization revenues.
The main focus is the realization of smart factories with autonomous robots working as supportive colleagues to humans where they can recognize and rectify the mistakes of their human colleagues. But like the car of tomorrow, AI is working with a huge range of sensor genes and actuators ensuring the autonomous action and interaction between machines and humans.
But the process of achieving such a goal is not possible without the congregation of real-time data, patterns recognized to derive and implement options for action. As compare to AI, solutions are needed to be found out for emerging problems in science, medicine, marketing, and even for lawyers.