Module 6 Assignment_Chitwood
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6-2 Assignment: AI and IoT: Efficiency and Optimization of Industry Operations
Michael Chitwood
24 November 2023
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Describe the use case concerning the impact of AI and IoT technologies.
Taking a closer look at how AI and IoT can impact the predictive maintenance when it
comes to various industries, we can see the benefits it provides companies. One impact that
would be noticeable could be the cost savings provided by performing more preventative
maintenance on the machines to reduce the down time or take a look at the frequency that a part
last before failing, and timing the replacement of the part around scheduled maintenance to
reduce the down time of the machine. The old method of just waiting till a part fails, then
changing it is a huge waste of time and money. This method of using AI and machine learning
and IoT is far more cost-effective from both a downtime perspective and loss of revenue, but also
with how companies prioritize the technician's time and priorities.
Utilizing various types of sensors, analysts can determine trends and attempt to get ahead
of machine failures. With AI, we could utilize real-time sensors and get faster notifications of
negative trends, or reduced efficiency, and possibly even be given an estimated time till failure to
provide a timeline to plan out when we would have to repair the machine.
Identify the category of the industry’s operations impacted by AI and IoT technologies.
The predictive maintenance category chosen has been very important to so many areas.
As Kapoor describes about airlines analyzing aircraft engines and the vast sensors, it shows how
having a baseline, and history or data can be used to predict an average lifespan of certain parts.
It can also be used to change multiple parts at once, instead of just one at a time, leading to an
overall increased down time. I think that as we get more and more data as predictive inputs and
we fine tune our models, we can squeeze more time and efficiency out of machines and
equipment leading to an increase in profits.
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Discuss the benefits of using AI and IoT for that industry.
To summarize all the benefits of industries utilizing AI and IoT devices, there should be
an increase in machine uptime and efficiency along with reduced cost and loss of time spent
repairing the machines. As our logistic models improve and the amount of data is increased, then
we will just continue to improve in all areas. Companies will be able to improve production
planning, and better optimize resource allocation to ideally provide the maximum amount of
output for the maximum amount of time leading to more profits.
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References:
Kapoor, A. (2019
). Hands-On Artificial Intelligence for IoT
. O’Reilly Online Learning.
https://learning.oreilly.com/library/view/hands-on-artificial-
intelligence/9781788836067/?sso_link=yes&sso_link_from=SNHU