Today is World IoT Day. Established in 2010 by the IoT Council, it’s an open invitation for the Internet of Things (IoT) community to recognize and celebrate the power that IoT has to transform our communities, our businesses and our lives. And with an IoT market expected to explode to $14.2 trillion USD by 2022, it’s going to be a major transformation.
It’s this same transformation that led CNBC to talk to our own chief technology officer in the U.K. and Ireland, and master inventor, Andy Stanford-Clark.
As part of an ongoing series, IoT: Powering the Digital Economy, CNBC host Adam Shaw set down with Andy to examine the role IoT plays in manufacturing and Industry 4.0.
Watch as Andy Stanford-Clark explains the very real benefits
of building IoT and AI into manufacturing.
What is Industry 4.0?
First, let’s back up and discuss Industry 4.0. This fourth industrial revolution is characterized by innovations in AI, robotics, 3D printing and IoT – and how these technologies integrate in the production process. The manufacturing industry is poised to reach $111.9 Billion by 2020. And like other industries undergoing a digital transformation, the best way forward is often paved with IoT and AI.
It starts with the data…then add in the IoT and AI
To quote Andy, “There’s a risk that you’ll drown in a sea of data. And the trick is to turn data into information; information into knowledge; and then, knowledge into actionable insights.”
Call it the new currency or even the new natural resource but data – massive amounts of it, collected from increasingly connected products and services – is what will fuel the success of Industry 4.0. Data from things like factory floor humidity, equipment vibration, the rumblings of machines and their temperatures, plus so much more. All this data can now be gathered, analyzed in real-time and used for insights and learnings. For example:
IoT and plant-floor data can be used predict and prevent equipment failure. This improves the performance and reliability of assets, lowers maintenance costs and reduces downtime.
Product lifecycle management (PLM) and application lifecycle management (ALM) can be integrated to create a digital twin of manufacturing plant operations. That then allows you to test virtual scenarios with real data.
Cognitive Visual Inspection = time & money
Another important example comes from visual inspection. With Watson AI-powered visual and acoustic capabilities, manufacturers can predict and detect quality defect trends sooner than ever. Early testing of IBM’s Cognitive Visual Inspection solution showed that production cycles that typically took eight days were reduced to just half a day.
On top of that, inspection time was reduced by 80 percent, and manufacturing defects decreased by up to 10 percent. And these results are significant: according to Gartner, every minute of unplanned downtime in manufacturing can cost a company $20,000.
Visual inspection can improve quality and efficiency.
The IBM Manufacturing difference
As the CNBC video underscores, manufacturing is changing dramatically. Fortunately, whether you need to reduce downtime, improve product quality or streamline asset maintenance, IBM has solutions that can help. You can start with our handy Industry 4.0 guide. Or explore a model factory with a two-minute, interactive demo to better understand the potential of Industry 4.0. You can also read the customer stories below that could inspire your own transformation.
Celebrate IoT with us
Industry 4.0 is just another reason to celebrate World IoT Day. But really, every day is IoT day to us. Thank you for joining us on this especially significant day. And when you’re ready to join the celebration, we have two great options for you:
25 Hours of IoT. Starting at 00:01 CET Monday, we’ll be sharing a story each hour for 25 hours. Stay tuned to Twitter @IBMIoT, Facebook and LinkedIn and follow #IoTDay and #WatsonIoT.
Let’s Talk. During the World #IoTDay Twitter Chat at 16:00 CET / 15:00 UK time / 10:00 EDT. Dozens of IBM experts will engage in a lively discussion on how the world is changing with AI and IoT. It’s about the business of IoT but also the ethics, security, privacy and data. And it’s also your chance to chat with IBM IoT masterminds.
Whether it’s Industry 4.0 or other IoT trends, we see how AI and our increasingly connected world drive digital transformation. It’s an exciting world in which new customer experiences are created, new partnerships are emerging, and companies are reimaging and creating their business models. Happy World IoT Day, everyone!
Learn more about our IoT manufacturing clients:
ABB, a powerhouse in the world of manufacturing, has established a strategic collaboration with IBM — to bring Watson AI and cognitive computing capabilities to the factory floor. For example, ABB and IBM will leverage Watson AI to help find defects via real-time production images that are captured through an ABB system, and then analyzed using IBM Watson IoT for Manufacturing. Previously these inspections were done manually, which was often a slow and error-prone process. By bringing the power of Watson’s real-time cognitive insights directly to the shop floor in combination with ABB’s industrial automation technology, companies will be better equipped to increase the Value flowing through their production lines to improve accuracy and consistency.Read more: https://www-03.ibm.com/press/us/en/pressrelease/52154.wss Video: https://www.youtube.com/watch?v=-4CazFUHgDs
Schaeffler is one of the world’s leading automotive and industrial suppliers that manufactures millions of precision-engineered products that help to keep the world’s machines moving – from those that go into automotive clutch systems, hybrid engines and the huge industrial bearings used in wind turbines. The German industrial heavyweight is working with IBM to accelerate the digital transformation of every aspect of its business from product development, through to manufacturing and its supply chain, sales and after-sales service. Using IBM Watson IoT capabilities, Schaeffler can now analyze huge amounts of data from millions of sensors and devices across its operations and provide insight to help it be more flexible, make decisions faster and optimize equipment in the field. For example, the two companies are building virtual models representing entire industrial systems that will help enable new approaches to product design and manufacturing.Read more:http://ibm.co/2n3XAox Video:https://www.youtube.com/watch?v=nx4dygJY_7U
Bosch, a leading global supplier of technology and services, is working on a global IoT collaboration with IBM making available Bosch IoT Suite services on open standards-based IBM Cloud and IBM Watson IoT Platform for clients to efficiently update millions of IoT devices. The combined power of open standards-based Watson Internet of Things (IoT) with Bosch IoT Suite’s capabilities, enabling clients to securely and efficiently update IoT devices at large scale via the IBM Cloud. Bosch is making available its “Bosch IoT Rollouts” service for advanced device management and cloud-based software updates on the IBM Cloud and integrated with the IBM IoT Platform.Read more: http://www-03.ibm.com/press/us/en/pressrelease/51569.wss
KONE is a global leader in the elevator and escalator industry helping move one billion people around in buildings each day, based in Helsinki, Finland. The company is using IBM Cloud-based Watson IoT technologies and services to connect, remotely monitor and optimize the management of over 1 million elevators and escalators. Using the IBM Watson IoT Platform, KONE can analyze vast amounts of data from sensors embedded in elevators helping to identify and predict issues, minimize downtime and personalize the experience for users. Instead of having to call in a service engineer or stick to maintenance schedules, KONE can predict and respond to selected technical issues in real-time, with the ability to run tests remotely and make commands over the cloud.Read more: http://www-03.ibm.com/press/us/en/pressrelease/49143.wss Video: https://www.youtube.com/watch?v=EVbd3ejEXus
The total number of Internet of Things (IoT) devices is expected to hit 10 billion by 2020. With this explosion of growth also comes an uptick in the conversations around how to use these devices and the data they generate to improve our businesses and our lives. At IoT World, North America’s largest IoT event ...read more
Welcome to Day 1 of the IBM® IoT Exchange. With four academies, main stage presentations and a robust solutions showcase, it was an information-packed day, with IoT thought leaders and experts, and IBM customers, IBM Business Partners and staff. Did we mention we had a backyard party, too? More on that later. If you’re here with ...read more