Manufacturers expect that their investments in smart factories will drive a 27% increase in manufacturing efficiency over the next five years which would add $500bn in annual added value to the global economy.
The majority of industrial companies have already embarked upon their digitalisation of plants to stay competitive. Smart factories leverage digital technologies, such as big data, analytics, artificial intelligence, advanced robotics and the Internet of Things to increase productivity, quality and flexibility. Common features of smart factories include collaborative robots (cobots), workers…
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