As Artificial Intelligence (AI) is considered and trialed across a variety of industry sectors, it is hoped that its implementation in the future could improve production, cut waste and even reduce the number of paid employees for businesses. With this in mind, this month we are taking a look at a variety of industries where AI technology could make an influence.
The Construction industry – The construction industry is well-known for being ‘under-digitalised’. It is hoped that a combination the construction industry will adopt a combination of AI and 3D printing technology to automate many processes and cut down on wasted materials whilst aligning to new environmental standards. Comprehensive databases will be able to monitor stock and even schedule projects according to the weather, whilst self-operating and self-driving machinery are already being trialed to take on repetitive manual tasks to free up employees.
The fashion industry – AI technology is being used to forecast trends, report on our spending habits and influence what we buy through comprehensive algorithms. It is helping large high street stores to stock more of the best-sellers by analysing our receipts. Whilst on social media and through chatbot and voice assistant technology, AI can monitor fashion conversations and product feedback so that retailers can improve their products and forecast colour and style for the next season.
The manufacturing industry – AI is developing robotics to create seamless working relationships between workers and machines. Assembly lines can particularly benefit from this type of machinery where the repetitive assembly of components is carried out. AI robots not only maximize production time, they can feedback information direct to stock control as to how many items have been produced, working far more efficiently to meet supply and demand. In addition they can eliminate human error and reduce accidents which is helping to improve safety on the assembly line.
Is your company using AI or considering implementing AI technology to improve production and your supply chain? Here at Crendon insurance Ltd we support companies with a variety of insurance and risk management policies which are bespoke to their business. Including technology insurance, intellectual property insurance, cyber security insurance and construction insurance, we will provide a policy which is completely bespoke to your business.
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