Daily Newsletter

01 October 2024

Daily Newsletter

01 October 2024

AI-focused start-ups reshape global manufacturing industry

A new GlobalData report highlights how AI-focused start-ups are transforming the global manufacturing sector by using AI to drive smart factory innovations, reduce downtime, and enhance productivity and precision across the manufacturing value chain.

Isatou Ndure October 01 2024

The global manufacturing sector is undergoing a rapid transformation, driven by artificial intelligence (AI) technologies that enhance automation and sustainability across the value chain, including product development, operations, process optimisation and quality control.

AI-focused start-ups are at the forefront of this shift, using technologies such as AI-powered collaborative robots (cobots), real-time production simulations, generative design, predictive analytics, and intelligent systems to boost efficiency, flexibility, and precision, while advancing sustainability goals, according to GlobalData's latest Start-up Series Report, titled “AI in Manufacturing: Startups Driving Factory 4.0.”

“As AI-driven innovations continue to evolve, the manufacturing sector is assured to benefit from enhanced production, reduced waste, and more sustainable production practices,” says Tejal Hartalkar, senior disruptive tech analyst at GlobalData. “Start-up-led innovations are not only streamlining manufacturing processes but also improving operational decision-making with AI-powered insights. By reducing turnaround time, ensuring quality control, and accelerating design processes, start-ups are creating the foundation for smarter and more effective factories.”

AI transformations across manufacturing

GlobalData's report highlights several key start-ups that are leading the charge with AI-driven solutions:

Product development

  • Vention: A Canadian start-up providing a cloud-based manufacturing automation platform, allowing users to design, automate, and deploy factory equipment within a single environment. Vention's AI-powered 3D machine builder software enables engineers to design and assemble custom equipment efficiently
  • Cognitive Design Systems: A French start-up developing an AI-powered platform for 3D modelling and numerical simulation. The platform helps users form, sketch, structure, plan, and conceptualise product designs.

Operations

  • Bright Machines: A US-based start-up specialising in modular, software-defined micro-factories that use robotics, computer vision, and machine learning (ML) to automate assembly and inspection processes
  • Covariant: Another US-based start-up, Covariant designs AI solutions for robotics, with its proprietary AI-based programme "Covariant Brain" supporting high-speed sorting, goods-to-person picking, kitting, and depalletisation in warehouse operations.

Process improvement

  • Doxel: A US start-up using computer vision and machine learning to automate project tracking and productivity analysis for large-scale construction and manufacturing projects. Doxel's platform provides real-time insights into project progress, quality, and budget adherence, enabling manufacturers to address inefficiencies promptly
  • MindsDB: Also US-based, MindsDB provides an AI-powered platform called MindsCloud, which works with various databases and cloud platforms for real-time predictive analytics, enabling businesses to automate and optimise operations with advanced analytics and machine learning.

Quality control and maintenance

  • SmartMore Technology: A China-based start-up advancing AI and machine vision integration in manufacturing. Its SMore ViMo platform enhances production processes through automated quality control and visual inspections
  • Vanti: An Israeli start-up focused on improving manufacturing processes with an AI-powered platform that offers predictive maintenance, anomaly detection, and process optimisation.

Hartalkar concludes: “The rapid adoption of AI technologies in manufacturing is addressing critical challenges such as production bottlenecks, equipment failures, and waste management. AI is enabling manufacturers to implement real-time adjustments and optimisations, improving sustainability and throughput. Start-ups are leading this charge, leveraging technologies like generative AI, natural language processing, and robotic process automation to provide scalable solutions that integrate seamlessly with existing systems.”

Last week (25 September), it was announced that the Association of Suppliers to the British Clothing Industry (ASBCI) annual conference, which is taking place in Halifax, UK next month will provide insights on the benefits and risks of AI from early adopters across the apparel sector.

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