For more than 250 years, the fundamental drivers behind economic growth been technological innovations. The most essential ones have been innovations which economics referred to as general technologies, a category of inventions which includes the steam engine, electricity, internet and the combustion engine.
Each general technology has induced a wave of complementary innovations and possibilities. For example, the combustion engine have given rise to cars, trucks, airplanes, chainsaws and lawnmowers. These have in return enabled shopping centers, supply chains and even suburbs. Many claim that the most vital general technology today is Artificial Intelligence (AI) and in particular Machine Learning (ML), which is the ability of a machine to learn patterns based on large quantities of data.
But why is this so important? Every day we perform tasks where existing patterns are too hard for the human intellect to discover. ML-systems are very good at finding these patterns and present correlations we have never seen before. Most often these algorithms achieve “superhuman performance”, which in short means that the algorithm’s performance outstand humans ability.
GKN are actively working with implementation of Machine Learning in large parts of our organization. My focus right now is on AI initiatives within production, but initiatives has also started within our product development.