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How AI and robotics can help prevent breakdowns in factories — and save manufacturers big bucks
Equipment failures have long haunted manufacturers — and they come at a staggering price.
A 2024 Siemens report estimated that unplanned downtime costs the world's 500 biggest companies up to $1.4 trillion a year combined. Breakdowns in machinery can then affect consumers through product shortages, higher prices, and lower-quality goods.
Major companies like IBM and Amazon have long relied on a strategy known as predictive maintenance to try to keep their industrial operations running smoothly. Predictive maintenance tech combines hardware and software to monitor the health of industrial machinery and identify issues, such as overheating components or pressure leaks, before they escalate. Sensors collect performance data from equipment, and software then analyzes that data to pinpoint problems.
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