“You can’t manufacture intelligence, but with some intelligence, you can manufacture tomorrow!” – Futurist Jim Carroll
As AI envelopes the world in 2023, everyone is enamored, stunned, fascinated, and overwhelmed by what they can do with tools like ChatGPT and the entire software ecosystem that is exploding around it. There is certainly a lot going on – but if you really want to understand the future, you should know that there is a LOT more going on.
The image above is from my keynote just before the pandemic for the World Bank in Morocco. The IFC Global Manufacturing Conference brought together manufacturing executives and economic development executives from around the world for a wide-ranging look at the future of the sector; my job was to define and put in perspective the trends that would do that. AI was very much on the agenda and within the core of my talk, because already at that time, AI was playing a huge role in redefining everything we know about the world of manufacturing.
And so my quote today? I guess it’s a bit of a dig, a fun little memory hook that has nothing to do with what I will share, but seems to work nonetheless!
My point today? I’ve been busy over at my AI Megatrends page, helping people understand that the current world of everything-AI-all-the-time actually has a lot more going on, far beyond things like ChatGPT and large language models. One of the posts I put out last week had to do with the role of AI in manufacturing – more below.
But in the meantime, it’s crazy how quickly things are happening out there. Check out AI Top Tools – which currently lists over 5,500 tools of various kinds. It will probably hit 7,000 next week and 10,000 by the end of the month, if not sooner.
Are these tools real? Most definitely! I’m currently working on a promo video with respect to my JimCarroll.ai website. Listen to the short clip below – it’s from the intro. The voice was generated by an AI over at ElevenLabs. Type in some text, click Generate, and you’ve got a pretty decent voiceover track.
I used this – and another tool – the other day when I had an AI interview me about … AI. More on that in the days to come!
What’s the point I’m trying to make? It’s this – yes, there is a LOT going on with AI, but there is so much more going on that you might not even be aware of that goes beyond what you see. AI is like an iceberg – ChatGPT is what you see. What you don’t see is where a lot more is happening.
And so back to the construction industry, which I covered in my AI Megatrends series last week. Spending is going from $6.2 billion in 2022 to $181 billion by 2030. Not much of that has to do with ChatGPT but has to do with everything else!
Among the benefits of artificial intelligence in Mexico’s manufacturing sector is supply chain optimization (companies can use machine learning algorithms to predict demand and adjust production accordingly, which can reduce costs and increase efficiency in the supply chain) and automated quality inspection (computer vision and machine learning algorithms can be used to identify defects in products during manufacturing, which can improve quality and reduce production costs).
Likewise, artificial intelligence can be used in collaborative robotics, (robots can work alongside employees to improve efficiency and productivity on the production line); and in predictive maintenance, (it can be used to monitor equipment and predict when maintenance will be needed, which can reduce downtime and associated costs).
American Manufacturing Resurgence: Reshoring Accelerates Significantly And Manufacturing Becomes A Digital-First Industry As CEOs Invest In Emerging Technologies Like Artificial Intelligence (AI), Robotics And More
17 April 2023, Dow Jones Institutional News
The sector long ago realized that machine vision, robotics, data analysis, predictive diagnostics, and more, combined with AI, provide a powerful path into the future. And it is certainly a priority:
As they bring manufacturing closer to home, CEOs and their management teams are making good on their promise to embrace technology, especially AI, to modernize their operations and future- proof their businesses.
While 59% of CEOs saying investing in digital/automated workflows is their #1 strategy, a growing majority — 51% — are now investing in AI, significantly ahead of robotics, at 30%. Nearly all CEOs and decision-makers (97%) said they believe AI will play a large role in their future operations.
For those companies investing in AI, 68% have seen a significant ROI while just 27% of respondents say more time is required before they see any significant return. Only 5% are still developing AI for their operations.
Up to 40% more manufacturing production with the use of artificial intelligence: Ikusi
24 April 2023, CE NoticiasFinancieras
Key message? AI is already here – but there is a lot more yet to come. Like, a lot of LOT!
In the changed post COVID-19 business landscape, the global market for Artificial Intelligence (AI) in Manufacturing estimated at US$6.7 Billion in the year 2022, is projected to reach a revised size of US$181.2 billion by 2030, growing at a CAGR of 51.1% over the period 2022-2030. Machine Learning, one of the segments analyzed in the report, is projected to record 56.6% CAGR and reach US$97 bBillion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Natural Language Processing segment is readjusted to a revised 47.4% CAGR for the next 8-year period.
Global Artificial Intelligence (AI) in Manufacturing Market to Reach $181.2 Billion by 2030
1 April 2023, MarketResearch.com
What does this have to do with the phrase “You can’t manufacture intelligence, but with some intelligence, you can manufacture tomorrow!” Not a lot really! I just liked the quote – it came to mind! It’s a fun little memory hook!
But seriously, the point is this – with an intelligent approach to all things AI-related, you can get beyond the current mania and realize what is really going on – and really get aligned to tomorrow. See – it does make sense!