Artificial Intelligence – The New Normal
The use of artificial intelligence (AI) is becoming prevalent in more industries by the day. When attending industry conferences, it is common to hear that, just a year ago, the term AI never featured. Now, whole sessions are devoted to it. The steel and manufacturing industries are certainly awakening to the multiple benefits afforded by incorporating AI.
These industries, when set up properly, can produce massive amounts of data. This creates fertile
ground for deep learning (DL) models. DL is a subset of AI. At the heart of DL is the deep neural network. Deep neural networks learn from data and the models created from this learning process can provide a wide spectrum of benefits to the world of steel and manufacturing.
As with most benefits brought by AI, it is important to note that these models require a clear understanding of the business problem. This clarity in describing what the model will be used for is sine qua non when designing these models.
They often pertain to a specific process in a specific company. The success of these models are often based on a close working relationship between AI practitioners and company management. Bespoke solutions offer a prolific advantage over the
status quo or ‘off-the-shelf’ services and systems.
Management and company owners have a wealth of industry expertise and understand how changes suggested by AI models will impact their business. AI becomes another tool in their arsenal, either bringing answers to questions that have long remained unanswered, or providing insights that lie undiscovered.
Problems within steelmaking and the manufacturing processes are often complex, and somewhat difficult to delineate. They are usually well understood by seasoned operators, though. When
these experts retire or move on to other companies, their loss is palpable. At their heart, AI models aim to mimic this learning that has taken years to acquire – exposing hidden connections that we often describe as intuition.
AI in the Steel Industry
Steelmakers and manufacturers are constantly under pressure to decrease their costs, streamline their supply chain, lessen wastage, optimise production schedules and delivery times, maintain equipment, and predict machine failures. Yet they are constantly pushed to deliver the best
products and services. Many systems within these companies are continuously streamlined and improved. Some of these changes are not always based on the best criteria and mistakes can be costly. When properly utilised, AI models can remove much of this guesswork.
AI can be used in other areas in these companies too. Forecasting is just as important as the factory floor. What manager does not concern themselves with predicting stock levels, purchase
demands, goods returns and so much more? AI can be as effective at the headquarters as it is in the factory.
Margins shrink by the day. The myriad of advantages offered by AI have become irrepressible.
FALX AI develops modern, tailored AI solutions. Companies are unique and so should their AI solutions be.