Author: Dr. Nguyen Ngoc Tam
Date Published: February 7th, 2020
Playing the roles of eyes and ears in the manufacturing process, Artificial Intelligence/Machine Learning (AI/ML) is contributing to addressing the growing challenges of product quality control. According to the corporate insurance carrier, AGCS, “defective products not only pose a serious safety risk to the public but can also cause significant financial and reputational damage to the companies concerned. Defective product incidents have caused insured losses in excess of $2B over the past five years, making them the largest generator of liability losses.”
With over 50% of manufacturers planning to increase Artificial Intelligence/ Machine Learning spending in the coming years, according to Forbes Insights research, the industry is leaving behind its stagnant reputation to dive into automation.