Geopolitical instability, supply chain volatility, and labor shortages have made it clear that manufacturers need to ramp up their digital transformation initiatives. Companies that fail to leverage Industry 4.0 technologies risk being unable to evolve and keep pace with competitors.
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Manufacturers generate more data than ever, while also facing a pressing need to simplify access to that data. However, data accessibility and contextualization continue to remain a major challenge. As factories become more connected, the need for next-generation data architecture is critical. Many plants are still grappling with fragmented systems that limit visibility and stall decision-making.
Artificial Intelligence (AI) is being used in a variety of ways across oil & gas operations, from asset tracking and predictive analytics to data management. Oil & gas operations generate massive amounts of data—up to 2 terabytes daily in some cases. Human analysis can only uncover so much, leaving numerous opportunities in the shadows. By deploying AI software tools, this disparate data can be used to bring new insights to light. These tools identify drilling opportunities, streamline processes, and optimize performance.
Why Is AI Needed for Quality Assurance?
Quality Assurance (QA) professionals deal with vast sums of data stemming from various manufacturing operations and customer complaints. Even with a Quality Management System (QMS) software solution, it is very time-consuming for QA teams to capture and document data, ensure complete traceability, and log product errors. Much of the challenge stems from the fact that legacy quality data are siloed.
Chemical manufacturers are often skeptical of making operational changes as it’s taken decades to establish industry norms. But in the face of an aging workforce and pressures to be more sustainable, chemical manufacturers must embrace technological innovation to meet their strategic goals. Growing at a Compound Annual Growth Rate (CAGR) of 6% between 2022 and 2031, spending on digital transformation in the chemical industry will reach US$7.4 billion by 2031.