siliconindia | | December 20198wing to the swift advance-ments in technological dis-coveries, the future of busi-ness is changing with the growing use of intelligent machinery predicted to character-ize the production processes and enhance user experiences. Artificial Intelligence (AI) and robotics play an important role in our economy, becoming the drivers of growth and productivity.This trend towards automation and digitization of manufacturing technologies is happening so rapid-ly that it is revolutionizing industrial processes and has earned the name of Industry 4.0. Besides automation, In-dustry 4.0 also involves the intercon-nection between cyber-physical sys-tems and objects through the Internet of Things (IoT): altogether this will lead to the creation of smart factories and systems, where all processes are interconnected to improve efficiency, safety and security. Moreover, further improvements in logistics and management of the supply chain are a direct consequence of the interconnection between com-panies using such smart solutions. And with AI technologies making significant progress in the last few years, more and more companies are expected to adopt these technologies, helping them reap benefits deriving from it. Rise of AI & FutureThe advancements in AI & Machine Learning (ML) have been made pos-sible by two main factors. The first one is the increase in the amount of data storage and processing, which is mainly linked to the increased use of Internet services. This is a crucial part of developing intelligent machines and tools based on AI. Secondly, a considerable contraction in comput-ing costs which led subsequently to an increase in computing power and storage happened in the first years of the twenty-first century. Artificial intelligence employed today is referred to as `narrow' or `weak' AI, meaning that it has only one function or task (e.g. facial rec-ognition). The goal of the future is the development of `strong' or `gen-eral' AI, which will be capable of per-forming a large number ofbasic tasks and will be significantly efficient.Artificial intelligence and robot-ics will undoubtedly have a major impact on economics. It is estimat-ed that AI could help double annual global economic growth by 2035. This growth will be achieved mainly through the increase in productivity and newer AI-enabled user systems. Additionally, this growth will im-pact different sectors, creating new revenue sources. Impact of AI on Automotive IndustryIn the automotive industry we expect that the cooperation between smarter equipment with fast analysis provid-ed by artificial intelligence will allow IN MY opinionOTHE IMPACT OF ROBOTICS AND ARTIFICIAL INTELLIGENCE ON BUSINESSBy Prashanth Doreswamy, Country Head- India & Managing Director, Continental AutomotivePrashanth has over 27 years of work experience in automotive industry and in wide areas of responsibilities including Operations, Program Management, Product planning, Business development, Commercials, Strategy and General management.Prashanth Doreswamy
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