Circuitdigest has published an interview with Mr. Abhishek Ray, CEO of Finarb Analytics Consulting
Changing the AI Landscape in Manufacturing:
In an insightful interview with Circuit Digest, Mr. Abhishek Ray, CEO and Director of Finarb Analytics Consulting, delves into the transformative role of AI in manufacturing. Established in 2018, Finarb leverages AI and data analytics to address real-world business problems. The firm has exhibited significant growth and seeks to expand further within sectors that value AI.
The global manufacturing industry is undergoing a pivotal shift driven by Fourth Industrial Revolution (4IR) technologies such as machine learning, automation, advanced analytics, and the IoT.
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Mr. Abhishek Ray Says: How AI is empowering the Indian manufacturing sector
During the course of this interview, Abhishek talks about India's adaptation to technological changes, emphasizing the need for AI in manufacturing. The discussion reflects Finarb's dedication to India's AI-driven shift.
He also draws attention to India's uneven progress in adopting Industry 4.0, with MSMEs lagging despite comprising 40% of the manufacturing ecosystem due to limitations in vision, scale, and financial resources. His goal is to address these disparities and promote resilience. He stresses the need for manufacturers to embrace digitalization, particularly AI.
Focusing on the manufacturing sector, Finarb is working on predictive maintenance, anomaly/fault detection, and Remaining Useful Life (RUL) prediction. They are also exploring AI's potential in product design optimization, factory floor safety, and enhancing the capabilities of Digital Twins.
Finarb's strategic approach includes understanding core business objectives, organizing data effectively, and implementing AI solutions for maximum impact.
Circuitdigest Interview Some of the Key Points are:
- Industry 4.0 is gradually becoming a reality in India, with significant investments being made to digitize the manufacturing sector.
- Adoption of Industry 4.0 by MSMEs has been slower due to limited resources, scale, and a lack of robust digital infrastructure.
- To increase the use of AI and other key technologies in manufacturing, companies must build resilient enterprises and adopt AI at the heart of their operations.
- Finarb actively bridges AI adoption gaps, pinpointing areas for maximal impact.
- Core AI solutions at Finarb encompass predictive maintenance, fault detection, and equipment RUL prediction, with burgeoning ventures in product design, safety, and Digital Twins enhancement.
- The Indian Government is bolstering AI and Industry 4.0 through the PLI scheme and more; sustained efforts and regulations remain imperative.
- Incepted with an AI-driven problem-solving vision, Finarb boasts a growth trajectory and a prestigious clientele.
- Championing the "Make in India" drive, Finarb enlightens on AI's manufacturing merits and partners with industries for trailblazing AI applications, process finesse, and sustainable evolution.
The Journey Henceforth...
Finarb, showing steady year-over-year growth, leads in AI adoption in manufacturing, healthcare, and BFSI. They exceed benchmarks with their design thinking and custom AI.
As a homegrown Indian company, Finarb is committed to the "Make in India" initiative. They aim to raise awareness about the benefits of AI in manufacturing, develop novel AI applications, and collaborate with the industry to drive innovation, optimize processes, and promote sustainable growth.
Finarb is a leading "consult-to-operate" firm specializing in data, analytics, and advanced AI solutions. We empower businesses at each step of their transformation journey, starting with identifying unstructured business challenges and designing tailored solutions through a consultative approach. Our unique blend of management consultants, data scientists, and programmers leverages industry expertise to create impactful, innovative solutions. We ensure agile, secure, and scalable solutions through our Cloud-First approach, alongside our focus on data governance and security ensures compliance and integrity as businesses grow. Finarb stands out with its consultative PoC approach, extraordinary team, industry expertise.
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