Serendip: The current landscape is abuzz with discussions surrounding machine learning and AI, particularly within the realms of supply chain and manufacturing. With projected spends ranging from 1.2 trillion to 2 trillion dollars, businesses are increasingly urged to leverage these cutting-edge technologies to revitalize their operations and stay ahead in a fiercely competitive market. However, amidst the excitement, a stark reality emerges: despite a decade of data collection, many struggle to effectively harness this wealth of information to address tangible challenges. Machine learning holds immense potential for revolutionizing manufacturing, offering insights into predictive analytics, preventative maintenance, and demand forecasting. Yet, the transition from theory to practice remains a formidable task. To bridge this gap between hype and reality, it's crucial to grasp the nuances between Artificial Intelligence (AI) and Machine Learning. While AI represents the pinnacle of machine learning, embodying the capacity for intelligent decision-making akin to humans, its implementation remains complex, often hindered by insufficient data and inherent human biases. In the majority of cases, businesses are turning to machine learning, where algorithms remain static, to tackle intricate business problems. However, it's essential to recognize that there are no magic bullets in this journey. Success hinges on the alignment of technology with business objectives, requiring technologists to transcend the allure of hyped tools and prioritize solutions tailored to specific needs. Monica Rogati's AI pyramid offers a compelling analogy, emphasizing the foundational importance of data literacy, collection, and infrastructure before ascending to the realm of AI-driven self-actualization. This paradigm underscores the significance of step-by-step progression in leveraging machine learning effectively.

Machine learning in manufacturing – Hype vs Reality

All the buzz  There is so much buzz about machine learning…
Serendip: In recent weeks, I've had the pleasure of introducing Serendip to numerous individuals, and a common inquiry that arises is the origin and significance behind the name. Allow me to shed light on this captivating tale. Serendip traces its roots to the ancient Persian name for Sri Lanka, my homeland. In the annals of history, this island was initially dubbed "Cheran Theevu" by Tamil and Malayalam-speaking Indians. However, when the Moors arrived around 300 AD, they inadvertently mispronounced the name, christening it Serendip. Fast forward to the 14th century, where the Persian fairy tale "The Three Princes of Serendip" captivated audiences. Penned by Amir Khusrau and included in Book One of his acclaimed work Hasht-Bihisht, this enchanting tale introduced the concept of serendipity to the world. It was here that Horace Walpole, captivated by the essence of chance discoveries, coined and popularized the term "serendipity" in the Western lexicon, encapsulating the occurrence of events unfolding in a fortuitous and beneficial manner.

Why name it Serendip?

In the last month, I've been introducing the concept and community…