food and beverage manufacturing
Three Ways AI is Changing Food and Beverage Manufacturing
Manufacturing high-quality products at minimum cost is the goal for most companies, and Industry 4.0 initiatives can get us closer than ever before. Despite being in varying stages of digital strategies and digitizing operations, many in the manufacturing industry are seeing the huge opportunities these initiatives offer. One of the most talked about initiatives is artificial intelligence (AI). Mckinsey's State of AI survey in 2020 reported that 22% of respondents who adopted AI saw revenue growth of more than 5%, particularly in areas such as finance and supply chain management. AI can also bring benefits to manufacturing, which we're going to look at in this article.
Artificial Intelligence: It's all about the Data
Food and beverage manufacturers are still on the fence about artificial intelligence adoption. Many believe it isn't useful or plain do not know how to use it. According to research firm Mordor Intelligence, artificial intelligence in the food and beverage market was valued at U.S. $3.07 billion in 2020 and is expected to reach $29.94 billion by 2026 at a CAGR of over 45.77% during the forecast period, 2021-2026. The Association for Advancing Automation (A3) is made up of three principle daughter associations: robotics, machine vision and motion control/motor industries, where AI acts as a bridge across those technologies. One of the roles for Robert Huschka, vice president of Education Strategies, A3, is liaison to the strategic advisory committee on artificial intelligence.
Artificial Intelligence is Redefining Food & Beverage Manufacturing
Of all the disruptive digital technologies being deployed in food and beverage manufacturing, none is more controversial than Artificial Intelligence (AI). Robotics, Machine Learning, Predictive Analytics and AI are evolving from science fiction to reality, seemingly, overnight. Companies are reevaluating their processes -- and the workforce -- and making decisions that will drastically impact the job market in food and beverage manufacturing. Today, AI is particularly valuable in automating and streamlining the complete manufacturing ecosystem, from speeding operations and automating routine decisions, to advising on executive-level decisions. It is also fueling a heated debate as to whether factories should ultimately rely on AI-driven machines and robotics, which could eliminate the majority of manufacturing jobs.
- Information Technology > Data Science > Data Mining (1.00)
- Information Technology > Artificial Intelligence (1.00)