Automation, robotics, and complex analytics have all been used by the manufacturing industry for years. If technology that makes manufacturing more flexible is widely deployed, it can enable more cost-effective customization, and that could create a real shift in competitiveness. The integration of AI in the manufacturing industry must be seen more as an evolution than a revolution.
According to industry reports, Internet of Things could contribute $10 trillion to global economy by 2030. It is thus imperative that AI, material tracking mechanisms, 3D printing, automated product design, robotics, and wearables are integrated seamlessly across production processes and allowed to play a larger role in delivering zero-error results to help manufacturers reduce costs and increase productivity.
Rolls-Royce serves as a living example of an industrial giant transitioning to the new age of data-enabled efficiency – which shows how any company, regardless of its industry, can and should adapt to the data age. We are using advanced analytics, industrial Artificial Intelligence, and machine-learning techniques to develop data applications that will unlock design, manufacturing, and operational efficiencies within Rolls-Royce, and create new service propositions for customers.
Further to this, data generated by IoT sensors, aggregated and analyzed in the cloud, is providing Rolls-Royce with unprecedented insight into the live performance of its products — from jet engines and helicopter blades to power generation systems and marine turbines. And that data capability is rapidly evolving beyond just predicting equipment issues and maintenance requirements to providing customers with valuable aftermarket services that range from showing airlines how to optimize their routes to keeping a survey ship in position in heavy seas.
The industry must come together to take technology to the next level and drive innovation through collaboration, with end-users and start-ups coming together to find ways to develop and embed new technology into businesses.
With a strong digital ecosystem and abundance of talent, India is in a unique position to recast the framework of manufacturing, but this will require a quantum shift in our mindset and approach. Technology adoption will become a norm for success as we come out of this pandemic. We will need to up-skill our talent even as we learn to intelligently integrate technology into our businesses to move up the manufacturing value chain.
It is time we all envision a new India with greater strategic autonomy and technological far-sightedness to anticipate and respond to the challenges of the future. The change must begin with the people and their approach. We must create the workforce of the future that feels empowered with technology, rather than threatened, so that they can create experiences that spark innovation and help build a more sustainable future.