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How AI is Modernizing the Future of the Canadian Manufacturing Industry

Aug 17, 2023

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The rapidly evolving Artificial Intelligence (AI) is also promptly finding its way into the Canadian manufacturing industry. The reason for this is the sharply increasing competitive advantage of companies introducing it. AI allows companies to become industry leaders by eliminating human errors, making analytics more accurate and decisions more informed, increasing productivity, and so on. Find out how you can benefit from implementing AI & ML development services in your production to meet the challenges of the time.

Enhancing Efficiency and Productivity

The biggest driver of AI adoption in manufacturing is the opportunity to increase productivity, which is especially important in the face of intensifying cost pressure and the emergence of new innovative competitors. For example, Canada's leading manufacturer with almost 120 years of history, Kruger Products, was one of the first to implement AI to increase productivity. The company management noted promising results already in the early stages of this project realization at the Estrie plant and actively extended the experience of using AI to other cases. And this is not surprising, since AI can be applied to a variety of workflows, thereby increasing manufacturing efficiency:

  • Automation of production tasks;
  • Quality control;
  • Preventative maintenance;
  • Strategic planning, etc.

Data-Driven Decision Making

Making effective decisions often requires processing such a huge amount of data that the human brain simply cannot embrace on its own. The algorithms used by AI allow you to operate with an endless amount of data, which makes any decision justified by objective data rather than by the subjective preferences of those who make them.

Customization and Personalization

Manufacturing software development takes into account multiple aspects that can increase sales. For example, if you want to anticipate demand, you need to know exactly the preferences and needs of your customers. AI allows you to comprehensively analyze the interests of your target audience and offer them highly customized products that the mass market does not provide.

Supply Chain Optimization

The continuity of the supply chain is important for any enterprise, but if you work with international markets or suppliers, it is simply critical. AI reduces uncertainty in supply and ensures the smooth operation of the entire production cycle and delivery of products to the end consumer by:

  • Perfect inventory management;
  • Preventing overstocking or understocking;
  • Increasing warehouse efficiency;
  • Risk analysis in the entire supply chain, etc.

Quality Control and Defect Detection

Defective products that hit the market can damage the reputation of the company that manufactured them. The traditional methods for detecting defects have their limitations due to the human factor, such as inattention, fatigue, etc. When you install special sensors and let AI ​​analyze the data, the identification of such products is faster and more accurate. Moreover, AI helps to determine the cause of the defects and ensures the possibility to eliminate them for subsequent production.

Conclusion

The introduction of AI within a single plant allows you to increase productivity while saving on costs and eliminating errors in a variety of workflows. The transition to the large-scale use of AI in the Canadian manufacturing industry as a whole allows for turning the country into a hub for innovation and making it attractive to investors.

See:  Global Improvements with Robotic Technology

Realizing this, the federal government is creating special programs that will help modernize production with the help of AI and increase the competitiveness of Canadian products in the global market.


NCFA Jan 2018 resize - How AI is Modernizing the Future of the Canadian Manufacturing IndustryThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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