May 20, 2019
By: Lyat Avidor Peleg
7 Predictive Analytics Articles You Don’t Want to Miss
There’s been a lot going on for predictive analytics across a range of industries. Grab a coffee and skim through these don’t-miss articles.
1. ZDNet: The Industrial Internet of Things: A guide to deployments, vendors, and platforms
ZDNet draws together key findings into the pace of adoption of Industry 4.0. The industrial sector leads the way, mainly due to businesses with manufacturing and operational processes companies that benefit the most from IIoT solutions. Within this sector, mining companies are the furthest along the road to full adoption. There’s a widespread movement towards full production deployment for Industry 4.0, even though IIoT platforms are not yet at full strength. Read more.
2. Industry Week: What’s Ahead for Manufacturing AI
Industry Week shares 3 predictions for manufacturing AI:
50% of manufacturing companies will be using AI in some form by the end of 2021, as they realize that it’s not an all-or-nothing change
25% of manufacturing companies will be using chatbots or voice-activated AI solutions by the end of 2020 because customers and employees are becoming more familiar with them
25% of manufactured goods will be handled by pick-and-place robots by the end of 2020 since the combination of AI and robotics can lower costs by up to 30-70%
3. Oil & Gas IQ: What does digital transformation in oil and gas look like?
Oil & Gas IQ takes a hard look at digital transformation in the oil and gas industry. Transformation is not optional anymore, but this is a complex industry where payback has been slow and the costs have been high. Its digital maturity rating is still only 5 out of 10. However, recent changes bring new hope, and the rise of data-driven decisions and platform development is one of the key predictions for the near future.
4. Oil & Gas IQ: What does IIoT mean for oil and gas?
Oil & Gas IQ picks up the startling announcement that 53% of oil and gas companies haven’t implemented IIoT tech, and that they don’t intend to, either. The writer sums up the obstacles to IIoT implementation and then highlights the far greater benefits that it brings. Predictive analytics is a particular goal for the oil and gas industry. A high-risk, data-rich, asset-heavy industry with such long supply chains can’t avoid the digital transformation and desperately needs it.
5. IT Web: Digital transformation projects to reach $1.2tn in 2019
ITWeb’s piece is full of useful data about global trends in digital transformation projects. You’ll learn that discrete manufacturing and process manufacturing are the two industries expected to invest the most in these projects and that autonomic operations, robotic manufacturing, freight management, and root cause analysis software are the leading initiatives. The article also highlights South Africa’s position ahead of the worldwide digital transformation curve.
6. CIO: We are only seeing the tip of the iceberg for AI apps
An interview with S.T Sathiavageeswaran, director of IS at India’s Hindustan Petroleum, reveals his thoughts about AI and ML apps. He expects that very soon, all refineries will be connected and tracked to enable advanced predictive analytics. With predictive analytics, refineries can predict demand and supply, and generally improve operations by basing decisions on data rather than hunches.
7. Forbes: 14 Essential Leadership Skills For The 4th Industrial Revolution
Forbes emphasizes that the advance of AI requires different leadership skills in order to make the most of the potential of Industry 4.0. The list of 14 leadership skills includes being tech savvy, collaborative, authentic, flexible, and emotionally intelligent. Read more.
Bonus: Chemical Processing Cartoon
Finally, here’s your comedy for the day. How would you caption this cartoon? I think predictive analytics would guide those darts to the right target. Don’t forget to scroll down to see what other people have suggested.
We hope you enjoyed that! Contact us to learn more about predictive analytics for your process plant.