How AI Solutions Save Time Reduce Cost and Help Metal/Chemical Industry Gain Competitive Edge
Be a Leader in Chemical & Metal Industry Solution with AI Solutions
AI is nothing new in 2020, but its implementation in metal and chemical industry is yet to happen on a fully fledged level. After all, it has immense potential to solve the traditional problems of too much cost spent in procuring raw materials and further processing it till the product is ready for market. The steel manufacturing units are also in quest of improving operational efficiency. The need for revolutionary technology that promises a competitive edge over Chinese counterparts resulted in leveraging the power of artificial intelligence.
A modern steel plant in the USA, geared up with state of the art machinery does not want to lag behind in terms of implementation of AI for enhanced productivity level. As a result, the company initiated its maiden AI project, which collected and analyzed data and simultaneously trained algorithms. This algorithm helps in prediction of maintenance requirements of new machinery.
A major steel manufacturer in India made a whopping cost saving of 180 crore and is
Hopeful about increasing it by 167% up to 300 crore INR . Are you wondering, how can AI save such a significant amount of cost? Well, it does in following ways
- By reducing mechanical properties variability
- reduction in cost of alloy because of improved variability control
- eliminating production that is out of specification
Other than cost reduction, productivity enhancement is another factor that makes AI solution a perfect choice for metal manufacturer who dream to scale business and attain the next level of success and create new avenues of revenue.
AI solutions are fully capable of helping companies manufacture ultra high-strength steels in low budget (thanks to ability of raw material optimisation).
This type of steel has high level tolerance. Thereby, making it suitable for manufacturing of chassis in automotive industry. This way, many steel companies can earn profit by developing high quality steel without increasing the budget.
Chemical industry is also well aware about AI solutions and its positive impact on speeding up the process several times in comparison to the conventional method. Chemical industry giants are relying on a better AI enabled approach to optimize polymer processors. The production and processing of polymers have some interrelated parameters. The AI solution finds the underlying opportunities between the parameters to finalise properties of the final product.
Chemical industry is taking advantage by implementing AI in the following ways.
- Having a better understanding of customer requirements
- The enhancement of R&D activities means reduced production time to achieve the desired output.
- Process optimization results in less cost due to operational optimization
Summing it up
A powerful AI solution for the metal and chemical industry is developed with primary focus on raw material cost optimization and value generation from unstructured data. On the bright side, the power of AI is not limited till collection and analysis of manufacturing data at internal level, but can help in product usage data collection from customers. Hence, making it easier to discover and adapt with changing customer demands.
This way, the immense potential of AI to reduce cost by significant margin, and enhance operational efficiency helps companies gain business competitiveness.