Posted by Thelma Marshall, VP of Solution, April 30, 2020
Businesses often look at the advances of artificial intelligent systems (AI) with healthy trepidation. Can it really change a business and boost productivity? How will it impact employees and what they do each day?
You may also question if it really delivers ROI, and if so, how soon that financial boost will be realized. If your business is weighing whether to leverage the power of AI, consider this. A recent global study of 600 business leaders found that:
- About 90 percent of businesses have plans to implement AI in various parts of their business.
- Industrial automation was the most common area of investment with 44.6 percent planning AI projects.
- Tied for second place on the list of priorities was using AI for customer relationship management (CRM) and inventory planning and logistics with 38.9 percent planning implementation in these areas soon.
- About 60 percent of the businesses surveyed expect AI to make existing workers more productive.
- In some positive news for most workers, only about 18 percent said they would use AI to replace existing workers. In fact, 35.7 percent said they expected increased headcounts, while 24.5 expected headcounts to remain the same.
Right now, AI isn’t about replacing workers. It is about putting more insight and information at everyone’s fingertips so they can make faster, fact based decisions.
What AI software delivers & why it matters
AI is instrumental in increasing productivity and efficiency, but there is one caveat to achieving your desired ROI. It important to choose the right cloud platform for your facility— one that leverages AI that supports machine learning.
With AI, software platforms identify and merge patterns from what machines “experience” using advanced analytics, IoT sensors, and real-time monitoring. The partnership provides answers based on insight versus guesswork and delivers the end-to-end visibility required for success.
In fact, the number of enterprises implementing artificial intelligence (AI) grew 270 percent in the past four years and tripled in the past year, according to a 2019 survey by Gartner, Inc.
Machine learning shapes daily warehouse operations for many companies. The basic advantages include:
- A smarter warehouse – with increased tracking of operator patterns, order picking, inventory monitoring, and just-in-time deliveries
- Superior Communication – all systems can “talk” to each other; combined information supports improved timing and routing, product location, and traffic patterns
- Improved locationing capabilities – systems will become much more “context aware,” able to locate inventory (down to the foot) and suggest optimum forklift routing
- Easy integration – telematics systems partner with SMART systems; increasing efficiencies as they monitor and track behaviors within the warehouse environment
- Customized operational parameters – forklift parameters based on location, battery charge state, presence of other vehicles, physical conditions at current location, historical performance and predictive calculations, etc.
The cloud connects all of this information with ease and value — and AI allows for machine learning to meet the challenges of supply and demand, while predicting and reducing costly mistakes.
Deploying telematics pays off
An advanced software platform makes it easier for manufacturing and warehouse managers to take comprehensive control over vehicles and operations right now, while providing the flexibility to change or upgrade functionality – via software – in minutes.