The future of manufacturing is digital – Predictive Maintenance

Industry 4.0 promises a lot – efficient production through connected machines, data-driven insights, and better machine availability via predictive maintenance These capabilities are no longer desirable, but business critical. In today's manufacturing industry, where efficiency is top priority and unplanned downtime can quickly hit the bottom line, smart technologies are basic requirements. In fact, a report by Deloitte shows that downtime is costing manufacturers around $50 billion every year. If manufacturers are going to evolve and recoup after 18 months of turbulence, they need to embrace digital transformation, digital solutions and predictive maintenance. Whether it's Artificial Intelligence (AI), Augmented Reality (AR) or Internet of Things (IoT) – they each have an essential role in keeping equipment running reliably, identifying faults at an early stage, and solving problems quickly regardless of location.