Date : 10-Jan-2019
Location: Asia
Key Take-Aways:
Asia’s Next Economic Growth Engine: Scaling with Industry 4.0 in Production Yield
Location: Asia
Key Take-Aways:
- Manufacturing in Asia is rapidly evolving. China maintains its strong position, and yet the rising cost of labour also means new opportunities for emerging hubs like Malaysia, India, Thailand, Indonesia and Vietnam, which Deloitte has termed the “mighty five” (MITI-V).
- With competition fierce and supply chains ever more complex, manufacturers are under intense pressure to increase yield, reduce production errors and uncover new areas of competitive advantage. Innovation is essential; and in particular, manufacturers will find it tough – if not impossible – to get ahead without embracing artificial intelligence (AI).
- AI is already making an impact within our daily lives; from improved spell-checks when typing a text message, to traffic predictions on your favourite map app. With AI enabling computers to mimic human abilities and machine learning driving knowledge acquirement, reasoning and decision-making, the possibilities for AI-led cloud applications in manufacturing are vast.
- A useful metaphor to understand the value of such technology is baking. When a cake comes out of the oven with a defect – perhaps it’s burnt, collapsed or unevenly cooked – the baker must guess what went wrong, then try again. Only through trial and error can the perfect cake be achieved, but in the meantime, the baker is wasting a huge amount of ingredients, electricity and valuable hours.
- Bernard Solomon, Head of Applications, Malaysia.
- Oracle cloud applications which have AI baked into their existing processes are now enabling organisations to take a pioneering, automated approach that eliminates the boundaries between transactions, analytics and decision-making; simplifying operations, and providing astounding visibility across the entire process of production.
- The A.I revolution will achieve its peak - beyond that,it will be uncharted territory for humanity, nonetheless, it is the natural progression since humanity is dependent on technology to enhance business competitiveness and efficiency.
- Adoption of A.I is still moving at turtle speed for the enterprise market in Malaysia, main reason is because it requires new talents in the workforce - since the ASEAN economy is merely surviving, budget for new talents are expected to remain unexcited.
- Having said that, it is cheaper to adopt solutions come ready with A.I capabilities.
- This is also an opportunity for startups to capture new markets.
Asia’s Next Economic Growth Engine: Scaling with Industry 4.0 in Production Yield
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