If you are a major manufacturer in 2020 and you have employed the likes of Deloitte, McKinsey or PWC, it is safe to assume that they have advised you to invest big in artificial intelligence and machine learning. According to reports by Deloitte and McKinsey, machine learning improves product quality and has the potential to double cash flow. Let's take a look at three global manufacturers who are already on board. SEE ALSO: Introduction to machine learning in Node.js Siemens is the largest industrial manufacturer in Europe, and whether they are putting together planes, trains or automobiles, their goal is to solve production challenges efficiently and sustainably.

In view of the attention it has received of late, it is easy to think artificial intelligence (AI) is a new discovery. In fact, the concept appeared in the mid-1950s. Because it was ahead of the technology then available, it languished on the shelf of "interesting ideas" for years. Today, artificial intelligence is commonplace. Navigation systems in cars, fitness apps, Alexa and Siri, Amazon, Netflix, weather forecasting, and high-speed stock trading are among current must-have AI applications.

WHEN manufacturers think of artificial intelligence (AI), they think of its ability to produce insights from data. Most manufacturers are keen on using AI to analyze demand and factor in lags in the supply chain to optimize operations, but forget the heavy equipment they're using. According to a new whitepaper, McKinsey argues that companies with heavy assets can reap great dividends if their operators start using AI to review their workflows and make necessary alterations. "AI can deliver improvements without capital-intensive equipment upgrades and thus produce attractive returns quickly," it says. The consulting giant finds that despite the advances in technology, operators of heavy machinery still rely on judgment and intuition to manually monitor signals and adjust settings, troubleshoot and run tests, and perform other tasks that strain the limits of their human capacity.