Machine Learning Applications in S!aP for Industry 5.0
Smart Industry aka Industry 4.0 means digital-industrial transformation by implementing information and communication (ICT) technology with automation in the production and operations of a factory. The fundamental concept for Industry 4.0 is the Industrial Internet of Things (IIoT), which provides connectivity for machines, industrial infrastructure, management systems etc. It helps in streamlining business operations, creating intelligent, self-optimizing industrial equipment and facilities leading to improving efficiency, reliability, and availability of industrial processes and products. At the next level, Industry 5.0 enables the smart facilities with IIOT to utilize cognitive computing consisting of machine learning, deep learning, neural networks, NLP and semantic analysis. It focuses on the collaboration of man and machine in the connected IIoT cyber-physical framework.
Now industry is moving towards advanced concept named Industry 5.0, where World Class Manufacturing (WCM) with advanced indicators and parameters need to be measured and monitored closely and diligently or better performance in terms of efficiency, productivity and RoI.
