AI Adoption—a SMART Business Strategy for Guaranteed Success

Digitalization has taken the manufacturing industry by storm. There is no living in denial now that AI is a transformational technology. AI has not only prevailed in the Gartner Hype Cycle, but it is also dominating this year’s technology landscape. Organizations are increasingly adopting AI applicationsolutions to create new products, improve existing products and grow their customer base. Integrating AI solutions for organization-wide applications and business workflows might seem complex, but there is no better time to get SMART than now! 

Senior Principal Analyst at Gartner, Shubhangi Vashisth has rightly pointed out, on average, it takes about eight months to get an AI-based model integrated within a business workflow and for it to deliver tangible value. Yet, Gartner predicts by 2025, 70% of organizations will have operationalized AI due to the rapid maturity of AI adoption initiatives (Goasduff, 2021). 

So, if you are wondering where and how to get started, here are our Pro Tips for turning your factory toward Smart Manufacturing:  

  1. Do not look at AI adoption as an experiment. It is a legit strategy that has proven its efficacy at reducing your business risks and improving productivity. 
  1. You need to focus on the quality of only two enablers of digital transformation—Data and AI application solutions. 
  1. Identify your business challenges first and make informed decisions about AI applications offering customized solutions for your pain points.  

The early adopters of AI, who embraced the IR 4.0 principles of making business processes more intelligent, have seen the technology deliver on its commercial promises.  

Research suggests that the BOE model provides a fitting AI adoption framework (Dasgupta & Wendler, 2019). Originally the BOE model got developed to understand the adoption of electronic data interchange (EDI) technology. It is now utilized as a general technology adoption model, too.  

The BOE model considers three factors:  

  1. Benefits-  

The perceived benefits of adopting AI applications in manufacturing organizations are  

  • Improvement of process yield by 8-10% 
  • Enhanced Product Quality by 10-12 % 
  • Reduction of working capital by 8-10% 
  • Cutting down of maintenance costs by 15- 20% 

The industry can get quicker ROI and start realizing benefits in 6 to 8 weeks of AI integration. The additional benefits of delivering such throughput with faster turnarounds and improved quality of service are improved customer satisfaction and long-term business relationships. 

  1. Organizational Readiness – 

Organizational constraints such as company culture, apprehension regarding AI adoption misconstrued as a disruptive technology, and legacy machines can pose challenges in deploying AI. However, under the skilled guidance of technology consultants and with the help of cutting-edge technology enablers, organizations can navigate the pitfalls to achieve relevant AI readiness. Systematic AI adoption increases the probability of successful transformation.  

  1. External Pressure (Competition) – 

Leveraging AI to secure significant business value can provide a competitive advantage to organizations. Industry-specific AI applications can lead to incredible improvement in manufacturing volume and process efficiency. 

And then again, there are three approaches to AI adoption: 

  1. Top-down approach for holistic organization-wide technology adoption 
  1. The Bottom-up approach, the opposite alternative, applies technology to various components and processes in a piecemeal manner. 
  1. The Agile approach involves continuous improvement at every stage in constant collaboration with technology service providers. The crossover into AI is a smooth process of evaluation, customized micro-planning, and execution.  

The alignment of AI adoption with your business strategy will elevate your manufacturing to the Plateau of Productivity. Machine Learning (ML), one of the technologies under the umbrella of AI, is also a commendable value-addition. ML fortifies AI with its capability of continual learning through experience, which plays a vital role in the fine-tuning processes. Start with apilot project and scale it up for heightened profitability.  

Wisdom is key to human evolution, but Artificial Intelligence is key to manufacturing evolution in this Smart Machine Age! 

Neewee Joins the SAP® PartnerEdge® Program

Bengaluru, India, September 23, 2021

Neewee announced today that it has joined the SAP® PartnerEdge® program as a partner that designs, develops, and builds software. 

“We are happy to announce Neewee is now an SAP partner,” said Harsimrat Bhasin CEO, Neewee. “This is a new milestone in Neewee’s journey and we would like to thank the entire team for this achievement. With Neewee’s leading-edge artificial intelligence apps in industrial analytics, manufacturing companies can improve their quality, efficiency, and productivity by leveraging the power of the internet of things (IoT) and AI.” 

Neewee enables manufacturing companies to see the larger context by collecting, connecting, and analyzing data from every point of the manufacturing process. This helps discover underlying patterns, uncover high-potential opportunities, predict deviations, and prescribe solutions. In turn, this intelligence augments day-to-day operations, empowering analysts, managers, and shop-floor staff to take crucial business decisions in real time. Neewee’s AI apps developed specifically for the manufacturing industry help identify parameters impacting yield, quality, production efficiency, consistency, and cycle times. They provide real-time recommendations and integrate with existing Information Technology/Operational Technology systems and platforms. 

As a partner in the SAP PartnerEdge program, Neewee is empowered to build, market and sell software applications that supplement and build on SAP software and technology. Neewee has its platform agnostic AI apps deployed on SAP Business Technology Platform. The SAP PartnerEdge program provides the enablement tools, benefits and support to facilitate building high-quality, disruptive applications focused on specific business needs – quickly and cost-effectively. The program provides access to all relevant SAP technologies in one simple framework under a single, global contract. 

About Neewee

We here at Neewee believe that a data-filled world needs a data-first approach. Neewee’s proprietary AI applications are optimizing manufacturing operations for leading global companies, and we have offices worldwide. We are driven with the vision of enabling complete digitalization of manufacturing to accelerate industrial transformation and profitable growth. 

Any statements in this release that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. All forward-looking statements are subject to various risks and uncertainties described in SAP’s filings with the U.S. Securities and Exchange Commission, including its most recent annual report on Form 20-F, that could cause actual results to differ materially from expectations. SAP cautions readers not to place undue reliance on these forward-looking statements which SAP has no obligation to update and which speak only as of their dates. 

SAP and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP SE in Germany and other countries.
Please see https://www.sap.com/copyright for additional trademark information and notices. All other product and service names mentioned are the trademarks of their respective companies. 

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