Artificial Intelligence (AI) is rapidly transforming the way that global industry players are doing business. With the infusion of AI into so many areas of business and commerce, we are seeing the evolution of everything from more intelligent products to laser-like focused customer offerings. AI is fundamentally changing how suppliers, manufacturers, and customers interact and collaborate.
So, what does this mean for original equipment manufacturers (OEMs)? Simply put, they have two choices. They can adapt their solutions by incorporating AI-powered business functionality, or face losing out to other progressive AI-focused OEMs in this ever-evolving competitive landscape.
It has become readily evident that Artificial Intelligence (AI) is everywhere nowadays. It has become systemic in certain niche applications, especially so in the pharma and healthcare industry, as well as in the retail space. However, where the critical mass opportunity comes into play for OEMs is when they can create repeatable AI solutions that are transferrable to multiple markets and industries. To do this successfully it is ultra-important for OEMs to understand the two key subsets of artificial intelligence, and the respective roles they play in developing these broad-based industry solutions. These two subsets are machine learning and deep learning.