We are in as transformative a phase right now as when electricity was invented – people will wonder how we ever lived without IoT solutions.
With Internet-of-Things (IoT) technology spending expected to reach $772.5 billion this year – 15 percent higher than 2017 – the world’s top manufacturers are shifting into exhilarating overdrive down the path to AI-driven and IoT-enabled automation.
“IoT technology spending is expected to reach $772.5 billion this year, which is 15 percent higher than 2017.”
So where will 2018 take us on this journey? First and foremost, the year ahead will see manufacturers rapidly connecting the unconnected, consolidating workloads, focusing on data analytics and virtualizing as much as they can on the manufacturing floor.
Furthermore, the manufacturing industry will continue its quest to connect to the data halos transmitted by all of the instrumented people, places and things. They will make further sense of this data by applying analytic algorithms to turn data into actionable information, providing better insight into facilities and production.
Shifting roles and revealing value in IoT
While the industry is embracing IoT, it will begin to reveal IoT’s true value in 2018. Unlike the enterprise resource projects (ERPs) of the 1980s and 1990s, manufacturers understand there’s tremendous value in IoT.
As a result, 2018 will see a growth in pilots showcasing results to inform further investment and business benefits – from intelligent manufacturing and field service automation to industrial system consolidation and robotic assembly. Industry leaders will emerge and apply these experiments at high-value locations where they can automate functions.
The rapid growth in automation of routine tasks will free up humans to apply their own unique intuition and creativity to infer associations from disassociated objects. That’s where humans are most effective.
“Rapid growth in automation of routine tasks will free up humans to apply their unique intuition and creativity.”
Manufacturers will increasingly look for places and ways to automate functions while also looking for ways to apply IoT for improving their business processes. This will certainly appear across the supply chain as businesses take a closer look at the quality of the raw materials that arrive, work in progress and quality steps along the way.
As businesses dig in and begin to uncover the value of IoT, they will increasingly deploy analytic solutions where it makes sense. It’s a tremendously exciting time for the industry – at a time when IoT technology is still growing and developing.
There are nuances and new discoveries on the horizon, as with any new major evolution in the industry. While we’re still early on, everyone is experimenting, learning quickly, failing quickly and gleaning solid learning objectives out of the pilots they deploy, slowly bringing new knowledge on board.
Positive disruption through automation
IoT will also disrupt the market in places where technology can enable businesses to provide more personalization for customers. If a customer wants a certain part created from a certain pattern or from a certain material – or wants that part delivered on a certain date – they then can convert that request to a manufacturing line to delight the customer when it shows up at their door.
Manufacturing is heading down the path toward personalization, shaped by the increasing amounts of data insights streaming from people, places and things. It will give manufacturers the ability to become so much more efficient and safe in how they deliver their product to customers, aided by disruption in automation and controls, virtualization and software-defined machine control.
The path to a smarter factory
As manufacturers continue on their journey with IoT, they can start to make sense of industrial data by applying algorithms and analytics. This, in turn, will enable the ability to leverage machine learning that will inform them on normal versus abnormal behaviors. The next phase is making smart machines to use that data in decision-making – and the introduction of control logic.
As a result, analytics for large, unstructured data sets like video and audio will increasingly occur at the edge or other places along the network. This will allow manufacturers to detect anomalies for further examination back at the factory command center.
From workload consolidation and virtualization to revealing IoT insights and expanding automation, as analytic algorithms turn data into actionable information, every place in our lives will be touched by industrial IoT.
We are in as transformative a phase right now as when electricity was invented. In 100 years, people will look back at this time and wonder how we ever got along without IoT devices or solutions.
2018 is shaping up to be a tremendously transformative year that will usher us forward to a better tomorrow.
This article originally appeared on the IoT@Intel blog and was republished with permission.
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