SUMMARY
Manufacturers need to fight against shrinking profit margins by producing high-quality products at low costs. They are working hard to equip their factories and supply chains with the latest technologies such as artificial intelligence (AI) and machine learning (ML). The good news is that such technologies help manufacturers thrive in the digital age and do not require big investments. ML technology is used to revamp quality control, bring down labor costs, shorten unplanned downtime, reduce product defects, and increase production speed. ML further brings tremendous benefits since it streamlines the entire manufacturing process. Competitive companies are those that are making significant investments in ML-powered approaches to improve all aspects of the manufacturing process.
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