Businesses can use AI to organize and analyze data in supply chains and thus facilitating decision-making in problems related to logistics and warehousing. In manufacturing, AI is essential for the improvement of efficiency and helps in saving time. AI is already transforming the manufacturing sector with the technology being used to perform functions such as predictive maintenance, quality control, and defect detection, optimization of supply chains, waste control, generative design, and assembly line optimization (Vaneker et al., 2020).
Businesses are exploiting AI capabilities due to the ability of the technology to utilise a large amount of data collected in businesses.
Can you find out what AI companies are doing in this space? If you set up a company with an AI solution, what would that solution be and what competitors are there? What is on the radar for AI in this sector over the next 5 years+
In the grocery sector, we’ve seen some real supply chain issues, running out of essential products – could AI help with that?
In manufacturing, which sectors could benefit most from AI? Focussing down further to a sector may also be helpful.
In the supply-chain and logistics industry, these technologies are proving to be a game changer. McKinsey & Company expects businesses to gain between $1.3tr and $2tr a year in economic value by using AI in their supply chains. According to Price water house Coopers, AI could contribute almost $15.7tr to the global economy by 2030.
