You are reading the article Top Five Cryptocurrency Exchanges To Use In 2023 updated in December 2023 on the website Moimoishop.com. We hope that the information we have shared is helpful to you. If you find the content interesting and meaningful, please share it with your friends and continue to follow and support us for the latest updates. Suggested January 2024 Top Five Cryptocurrency Exchanges To Use In 2023
Cryptocurrency exchanges are useful for crypto investors to exchange cryptos in 2023The highly volatile cryptocurrency market is providing thousands of different cryptocurrencies across the world for seamless transactions within a short period of time. Crypto investors need to know about the top useful cryptocurrency exchanges to seamlessly exchange popular cryptocurrencies between two parties. There are multiple cryptocurrency exchanges such as the Binance cryptocurrency exchange, chúng tôi and many more with more than one billion average daily volume. Let’s explore some of the top five cryptocurrency exchanges for crypto investors in 2023.
Top five cryptocurrency exchanges in 2023 BinanceBinance cryptocurrency exchange is known as the world’s biggest Bitcoin exchange as well as altcoin crypto exchange by volume. It helps crypto investors to buy and sell cryptocurrencies in a few minutes through multiple smart devices with convenience. It has a record of holding 1,400,000 transactions per second with a 2 billion average daily volume in the cryptocurrency market. This cryptocurrency exchange offers a wide range of Binance products such as labs, Launchpad, trust wallet, chain, academy, charity, and many more.
Coinbase ExchangeCoinbase Exchange is one of the top cryptocurrency exchanges with the most liquid regulated and secure online platform for dealing with cryptocurrencies. It is popular for offering high throughput APIs in the deepest pool of liquidity of any regulated crypto spot exchange. Crypto investors can receive low cost of execution with a dynamic fee structure for high-volume trading. There are more than 73 million verified users with 10,000 institutions and 185,000 ecosystem partners across 100 countries.
chúng tôiGate.io is a popular cryptocurrency exchange with authentic trading volume and transparent transactions of 600 different coins. It offers a wide range of product ecosystem such as spot trading, margin, ETF, perpetual contract, copy trading, exchanging cryptocurrencies, and many more. Crypto investors use chúng tôi to gain comprehensive protection with security and law funds, efficient trading, and instant deposit and withdrawal without any market manipulation. It leverages blockchain technology to provide cross-cryptocurrency address technology, hot and cold wallet storage solutions, multi-signature security protection technology, as well as real-time asset sending and receiving technology.
UnocoinUnocoin Exchange is popularly known as India’s oldest, secure, and reliable cryptocurrency exchange platform. It is also the most trusted cryptocurrency trading place in India with more than 1.5 million crypto-holders and over 10.18 million orders processed since 2013. It offers a simple mobile app for Android and Apple along with a website for providing the fastest customer service in the domestic cryptocurrency market. One of the top five cryptocurrency exchanges helps investors to save money, time, and build a community in the cryptocurrency market.
CoinDCXThe highly volatile cryptocurrency market is providing thousands of different cryptocurrencies across the world for seamless transactions within a short period of time. Crypto investors need to know about the top useful cryptocurrency exchanges to seamlessly exchange popular cryptocurrencies between two parties. There are multiple cryptocurrency exchanges such as the Binance cryptocurrency exchange, chúng tôi and many more with more than one billion average daily volume. Let’s explore some of the top five cryptocurrency exchanges for crypto investors in 2023.Binance cryptocurrency exchange is known as the world’s biggest Bitcoin exchange as well as altcoin crypto exchange by volume. It helps crypto investors to buy and sell cryptocurrencies in a few minutes through multiple smart devices with convenience. It has a record of holding 1,400,000 transactions per second with a 2 billion average daily volume in the cryptocurrency market. This cryptocurrency exchange offers a wide range of Binance products such as labs, Launchpad, trust wallet, chain, academy, charity, and many more.Coinbase Exchange is one of the top cryptocurrency exchanges with the most liquid regulated and secure online platform for dealing with cryptocurrencies. It is popular for offering high throughput APIs in the deepest pool of liquidity of any regulated crypto spot exchange. Crypto investors can receive low cost of execution with a dynamic fee structure for high-volume trading. There are more than 73 million verified users with 10,000 institutions and 185,000 ecosystem partners across 100 chúng tôi is a popular cryptocurrency exchange with authentic trading volume and transparent transactions of 600 different coins. It offers a wide range of product ecosystem such as spot trading, margin, ETF, perpetual contract, copy trading, exchanging cryptocurrencies, and many more. Crypto investors use chúng tôi to gain comprehensive protection with security and law funds, efficient trading, and instant deposit and withdrawal without any market manipulation. It leverages blockchain technology to provide cross-cryptocurrency address technology, hot and cold wallet storage solutions, multi-signature security protection technology, as well as real-time asset sending and receiving technology.Unocoin Exchange is popularly known as India’s oldest, secure, and reliable cryptocurrency exchange platform. It is also the most trusted cryptocurrency trading place in India with more than 1.5 million crypto-holders and over 10.18 million orders processed since 2013. It offers a simple mobile app for Android and Apple along with a website for providing the fastest customer service in the domestic cryptocurrency market. One of the top five cryptocurrency exchanges helps investors to save money, time, and build a community in the cryptocurrency market.CoinDCX is the largest and safest cryptocurrency exchange in India with more than six million Indian crypto investors. It helps to invest and grow cryptocurrency portfolios to yield higher return potentials. There are more than INR 75 billion total cryptocurrencies purchased as well as over INR 3 billion total cryptocurrencies invested with more than 40 million trading volumes. It provides the utmost security to digital wallets through deep encryption and BitGo insurance. This cryptocurrency exchange offers a wide range of products such as spot trade, margin trade, lend, API docs, and many more.
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Next Up: Five Ones To Watch In September 2023
In 2023, we witnessed the birth of a new creator economy on the blockchain. Since NFTs took center stage, artists have achieved NFT superstardom, billion-dollar brands have been forged in just a few months, and lives have been utterly transformed time and again. Yet, the most inspiring thing about the NFT space is the number of artists of all creeds and mediums who have found community and support by embracing this technology.
In keeping with our mission to empower creators, we present Next Up — our monthly franchise dedicated to showcasing rising artists. In our September edition, we’ve curated a list of five ascendant talents who are poised to make significant waves in 2023.
Alizé JirehAlizé Jireh is a 22-year-old self-taught photographer and filmmaker who has worked in more than 25 countries on a range of promotional and documentary projects in the past six years. She explored self-portraiture during the pandemic, and crafted her own unique brand of conceptual photography — designed to reflect someone eager to explore the rawest and most sensual experience by wandering through ordinary environments with curious eyes.
We spoke with Jireh, and asked a few questions about NFTs, and her artistic process.
How did you first become interested/involved in NFTs?
My friend Summer introduced me to the Twitter community and NFT world a little under a year ago. I was being shadow banned on Instagram at this time and felt a little lost and rejected as an artist in that space. I quickly fell in love with the Twitter community that very openly welcomed me into this space and offered reflection and support in ways I had never experienced before. I started dipping my toes in the NFT waters at the beginning of 2023. I’m grateful to the collectors that have supported me so far and am now ready to dive all the way in. I feel inspired and uplifted by this digital art world and am excited to keep learning and growing in it.
How would you describe your art? What’s your process like?
I would describe my art as an exploration of the human body as lifeless nature, as an inanimate object that mixes with its surrounding landscape. I study the intensity of human emotion through surrealism and dreamscapes. Solitude, observation, sensuality… the soul. I spend as much time as I can wandering in places and trying to recreate visions I’ve had in daydreams and am often inspired by the aesthetic/emotional analysis of a space and how my body feels in it. Then I set up my tripod and put on the timer, then mold my body with whoever or whatever is with me, and start shooting.
Do you have any drops/collections on the horizon we should keep an eye out for?
I still have one piece available to collect in my NFT collection SENSUS on Foundation, and a small photography NFT collection that will come out this month featuring work I have been quite anxious to mint. After this, I’ll be working on releasing new works that I am excited to curate as collections in the very near future.
Lewis OsborneLewis Osborne is a freelance illustrator/animator from Bristol. He first became interested in design at age 15 after stumbling upon YouTube tutorials on “making cool backgrounds.” After going to school for graphic design and securing a job in the field, Osborne continued to illustrate/animate in his spare time, eventually becoming a full-time freelancer in October 2023, leading to him gaining notoriety in the NFT space.
We also spoke with Osborne, and asked a few questions about NFTs and his artistic process.
How did you first become interested/involved in NFTs?
I first heard about NFTs from someone who sent me a DM on Instagram in 2023 saying that my work would do well on a website called Hic Et Nunc on Tezos. I had no idea what NFTs were, and I was seeing some people hating on NFTs quite early on so I was a bit hesitant about giving it a go. Eventually, he explained a lot more about it and convinced me to give it a go. I absolutely love the Tezos community and the stunning art that I’ve discovered from it. I couldn’t be more grateful to the guy for sending me that DM.
How would you describe your art? What’s your process like?
I would describe my work as playful and hypnotic. I like to play with my signature happy and sad faces in unusual environments that draw on this relatable feeling of feeling confused in this weird world. I feel like a fair few of my ideas stem from me being generally quite an anxious person, so I’m always trying to think of weird ways to visualize my thoughts and express how I’m feeling. I find that my best ideas pop into my head while I’m going for a stroll around Bristol and simply taking the world in.
My actual design process is generally bog-standard. I’ll start by sketching out an idea, then I’ll create the vectors in Adobe Illustrator, and then I’ll animate them using Adobe After Effects. I always finish my pieces with a texture overlay and export them out at 12 FPS as I love that it adds to the retro feeling of my work.
Do you have any drops/collections on the horizon we should keep an eye out for?
I’ve actually just been accepted by SuperRare which is extremely exciting, so you can expect to see my debut there soon! Other than that, I am planning to carry on adding to my Moving Cities and Balloon Fiesta collections as well as creating further random loops, all of which you can find on my OBJKT profile.
Niall AshleyNiall Ashley is a Bristol-born, London-based painter and performance artist taking the NFT space by storm with their unique, multidisciplinary works. Having first found a knack for creation early on in life, Ashley pushed their artistic prowess aside throughout grade school out of necessity.
We had the opportunity to ask Ashley a few questions about NFTs and their artistic process.
How did you first become interested/involved in NFTs?
NFTs introduced the possibility of performance art being able to exist in its final raw form as an entity that constantly reinterprets itself from digital wallet to front-end platform to LED screen to transaction. In the past, performance breaks down into collecting stills or compressed video in physical formats as an afterthought to creating work. This new provenance change excited me as an artist, and I immediately dove into the space.
How would you describe your art? What’s your process like?
My art examines the context of avatars in a social media landscape and uses such containers to define content as high art. I present multiplicity as a vehicle for expressing tangents of one’s identity, an extension of Édouard Glissant’s “Opacité.” Through the flattening of topographic canvas and polygonal mesh, I aim to question institutional concepts of aura and what constitutes a work of art, as well as accepting the [matrices] of TikTok and Instagram’s interpersonal format as a paintbrush itself.
Creating starts with throwing up spray paint and oil stick on canvas, intuitively worldbuilding with a central painted figure to later be digitally immortalized. Next, I scan and lift off these painted textures into sculpted 3D and create an extended narrative via Unreal Engine. Then performance becomes a mechanism to bring life into a digital avatar, using motion capture to create a playful scene in my studio, typically including prop work and dialogue. Finally, I present a digital moving image painting in tandem with its physical counterpart, flattening the hierarchy between medium and becoming an affirmative one with my art practice.
Do you have any drops/collections on the horizon we should keep an eye out for?
Elixir is my next big project. It’s a series of physical and meta-paintings using Los Angeles as a case study for alchemy in the form of consumer goods and manufactured realities. I released the first piece last month, named regenerate+repair[2oz], and the following pieces will be dropping in tandem over the next two months. As an extension to this project, I also want to create avatar DAOs for each character presented in these works, following the Nouns model with some new twists.
YinkoreYinkore is a self-taught digital artist from Nigeria. Her art focuses on her lived experiences as a Black woman, highlighting her own personal struggles navigating mental health issues, sexuality, and activism through artistic defiance. After walking away from her job as a lawyer, Yinkore found success in the NFT space early on. Her collections sold out, she worked on group exhibitions, she engaged with brands like ConcenSys and Blockworks, and she also became aware of the need to reinvest into the NFT ecosystem, becoming a prominent voice in the push for inclusivity.
We had the opportunity to ask Yinkore a few questions about NFTs and her artistic process.
How did you first become interested/involved in NFTs?
It was through my friend Z4HIIR, an amazing 3D artist. He had been actively involved in the space and had told me how he thought my art would thrive if I joined back in June 2023. I was a bit intimidated by all the tech and art though, so I stayed away till he gave me a foundation invite later in the year. Back when those were incredibly tough to come by, I had just left my job, so that gave me the push I needed to at least give it a try.
How would you describe your art? What’s your process like?
My art is a love letter to Black women. In its simplest form, that really is what it is. Someone tweeted something about not really having an art style but having an artistic voice in all your pieces, and I related to that very heavily. I like to play around with my art in terms of styles, colors, and textures, but my central theme is always Black women. They’re the reason I create.
As for my process, it’s very chaotic. I’m very much in my maximalist era, so I have an idea then add fifty things on top of that. I have a general understanding of what I want to say, but honestly, everything, till I get to my final product, is often just trial and error. While I take my work seriously, I’m also aware that my work is very emotional so I often just have to trust my intuition and play around with textures, colors, and patterns till they feel right.
Do you have any drops/collections on the horizon we should keep an eye out for?
As an artist there’s always new work, so would love people to stay connected regardless. But majorly, I’m in an artist residency program with Wildxyz, they’re a platform, launching soon, that I think is really going to change things up because of their focus on building interactive experiences. The residency also paired me with a mentor as part of the program, Kate Vass. It’s been really exciting to access additional expertise as I move through the program. I’ll be dropping a generative collection with Wildxyz that I’m currently working on right now. I’m being extremely intentional, and it’s a lot of hard work so I can’t wait to see how it’s received.
ZafGodWe had the opportunity to ask ZafGod a few questions about NFTs and his artistic process.
How did you first become interested/involved in NFTs?
I first got involved in NFTs at the beginning of November 2023 when I randomly searched one night for alternative ways to sell my work. I discovered OpenSea, and from there I fell down the rabbit hole, and a new world of possibility opened up to me. It has really helped me grow as an artist, it’s fantastic!
How would you describe your art? What’s your process like?
I wouldn’t say I’m interested in a specific style. Instead, I enjoy experimenting and learning new things. I make every effort to broaden my horizons. I call it “Future Mixed Media” because it’s an eclectic combination of traditional techniques and new media. So even though it is an outcome of my witnessing, my art is more about your seeing than it is about mine. I’m also enchanted by the sense of presence. That is, space in which you experience a presence, nearly akin to an entity. That physical sensation and power that space may provide.
As far as the process goes, it’s trial and error and a lot of freestyle. I’m inspired by the music scene and the idea of freestyle, so I wanted to bring some of that freedom to my process. Besides that, each technique has its own process, so I mix them up until I am satisfied with the results.
Do you have any drops/collections on the horizon we should keep an eye out for?
The first piece that I dropped on SuperRare: OMEN 17. It resembles one of my most predominant styles of painting.
7 Best New Cryptocurrency To Invest In March 2023
Investing in a new cryptocurrency or crypto project can drive profit in March 2023
The cryptocurrency market is now valued at over $2.2 trillion, following a stellar year in 2023. Due to its sheer size, the market provides scope for many smaller coins to launch and generate enormous returns for investors.
If you’re looking to find some exciting options within the crypto market, this article will explore the 7 best new cryptocurrency to invest in for 2023 – ensuring you’ve got a solid idea of the best investments for the weeks and months ahead.
1. Lucky Block – Top Cryptocurrency Project with Huge Price PotentialOur top pick in the cryptocurrency market right now is
Lucky Block
. Lucky Block is a blockchain-based lottery platform that looks to leverage decentralised technology to significantly improve the experience offered by legacy lottery systems. Lucky Block’s native token, LBLOCK, forms a vital part of the platform and is used to pay transaction fees and buy lotto tickets. What’s more, since jackpots are paid in LBLOCK, winners can receive their prizes instantly!
Lucky Block’s presale sold out
following colossal investor demand, netting the platform $5.7m in funding. Due to the buzz around the platform, Lucky Block’s developers decided to list the
LBLOCK
token on PancakeSwap ahead of schedule, which resulted in a trading volume of over $3.4m during the token’s first day of being listed. Looking ahead, Lucky Block’s dev team have set their sights on obtaining a listing on Binance during Q1 2023, before the lotto draw’s official launch on 25
th
March.
Finally, the success of the presale and the PancakeSwap listing has produced an enormous response in the Lucky Block community, with over 24,000 members now active in the platform’s
Telegram group
. Due to this, LBLOCK is our pick for the next cryptocurrency to explode in 2023.
Buy Lucky Block on PancakeSwap Now
Cryptocurrency markets are highly volatile and your investments are at risk.
2. Decentraland (MANA) – Best Cryptocurrency to Buy for Exposure to MetaverseBuy MANA on eToro Now
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
3. Polkadot (DOT) – Best Crypto Blockchain Offering Unrivaled ScalabilityPolkadot is an innovative protocol that aims to provide interoperability between blockchains. Right now, most blockchains run individually, making it hard to share data with other platforms. Through Polkadot’s parallel processing approach, blockchains can operate as ‘parachains’ within the system, enabling far higher scalability. Ultimately, this means that developers can create cross-platform applications whilst still allowing each individual blockchain to maintain autonomy. Overall, Polkadot’s system looks set to change how the crypto world operates, making it an exciting token to consider for 2023.
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Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
4. Chainlink (LINK) – Cheap Cryptocurrency to Buy with Bright Future AheadDue to the decentralised nature of blockchains, it’s difficult for them to obtain data without compromising on their principles. Chainlink looks to solve that problem by providing a way for blockchains to receive real-world data while remaining decentralised. Using Chainlink’s ‘oracles’, data from non-blockchain sources can be delivered to smart contracts on the Ethereum network, allowing them to function correctly. This service is extremely valuable within the crypto ecosystem, which is why
Chainlink looks set to have a fantastic 2023
.
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Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
5. Curve (CRV) – Most Popular Cryptocurrency to Buy With Returns Over 400%Curve is an Ethereum-based decentralised exchange (DEX) that focuses on stablecoin trading. By using Curve, investors can exchange stablecoins with low fees and little to no slippage. Curve achieves this through the use of liquidity pools, which enable investors to place their assets and generate substantial returns. Furthermore, as Curve is decentralised, users do not need to go through strict KYC checks like they would on centralised exchanges – making Curve an attractive prospect for the future of DeFi.
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Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
6. Avalanche (AVAX) – Best New Cryptocurrency to Buy in 2023As has been evidenced by Ethereum’s troubles, scalability is a significant issue in the crypto world at present.
Avalanche
looks to solve this problem by offering a platform with three separate blockchains. Each blockchain focuses on one aspect of the network, meaning Avalanche can provide rapid time to finality (TTF) and low fees. Furthermore, Avalanche uses two consensus mechanisms (called Avalanche and Snowman) to maintain safety and integrity within the network. Ultimately this makes Avalanche a secure and viable alternative to many popular platforms in use today.
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Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
7. Polygon (MATIC) – Top Cryptocurrency to Buy as a Long-Term InvestmentMost crypto lovers will be aware of the scalability issues of Ethereum, including high GAS fees and slow transaction speeds. Polygon looks to help with this by offering a scaling solution compatible with the Ethereum network. Polygon works as a ‘sidechain’ that runs parallel to the Ethereum blockchain and provides faster transaction speeds and lower fees. Also, as Polygon is compatible with the Ethereum Virtual Machine, it’s easy for developers to transfer their apps over to Polygon – or even build them on the network. As Ethereum looks set to continue its dominance, Polygon is likely to be a beneficial scaling solution for developers in 2023.
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Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
How to Buy the Most Promising Cryptocurrency for 2023Finally, let’s take a look at the process of
investing in the cryptocurrencies
we’ve mentioned within this article. Found below are step-by-step guides on how to buy our number one crypto pick,
Lucky Block
, as well as how to
buy cryptocurrency on eToro
– both of which can be completed in a matter of minutes!
How to Buy Lucky Block
Step 1 – Create a Crypto Wallet
: Set up a
crypto wallet
with a reputable wallet provider (such as MetaMask) so that you can store your LBLOCK safely after purchase.
Step 2 – Buy BNB
: Create an account with a regulated broker or exchange and purchase some Binance Coin (BNB). Once purchased, transfer your holdings over to the crypto wallet.
Buy Lucky Block on PancakeSwap Now
Cryptocurrency markets are highly volatile and your investments are at risk.
How to Buy Cryptocurrency with eToro2. Verify your Identity
– Verify your account by uploading proof of ID (copy of passport or driver’s licence) and proof of address (copy of bank statement or utility bill).
3. Make a Deposit
– Deposit at least $10 into your account via credit/debit card, bank transfer, or e-wallet.
Buy Cryptos on eToro Now
If you’re looking to find some exciting options within the crypto market, this article will explore the 7 best new cryptocurrency to invest in for 2023 – ensuring you’ve got a solid idea of the best investments for the weeks and months ahead.
Top 13 Use Cases / Applications Of Ai In Manufacturing In 2023
The industrial manufacturing industry is the top adopter of artificial intelligence, with 93 percent of leaders stating their organizations are at least moderately using AI.
Manufacturers are frequently facing different challenges such as unexpected machinery failure or defective product delivery. Leveraging AI and machine learning, manufacturers can improve operational efficiency, launch new products, customize product designs, and plan future financial actions to progress on their digital transformation.
Why is AI important in the manufacturing industry?Implementing AI in manufacturing facilities is getting popular among manufacturers. According to Capgemini’s research, more than half of the European manufacturers (51%) are implementing AI solutions, with Japan (30%) and the US (28%) following in second and third.
The same study also reveals that the most popular AI use cases in manufacturing are improving:
maintenance (29% of manufacturing AI use cases)
quality (27%)
This popularity is driven by the fact that manufacturing data is a good fit for AI/machine learning. Manufacturing is full of analytical data which is easier for machines to analyze. Hundreds of variables impact the production process and while these are very hard to analyze for humans, machine learning models can easily predict the impact of individual variables in such complex situations. In other industries involving language or emotions, machines are still operating at below human capabilities, slowing down their adoption.
The COVID-19 pandemic also increased the interest of manufacturers in AI applications. As seen on Google Trends graph below, the panic due to lockdowns may have forced manufacturers to shift their focus to artificial intelligence.
What are the common AI use cases in manufacturing? 1. Predictive maintenanceManufacturers leverage AI technology to identify potential downtime and accidents by analyzing sensor data. AI systems help manufacturers forecast when or if functional equipment will fail so its maintenance and repair can be scheduled before the failure occurs. Thanks to AI-powered predictive maintenance, manufacturers can improve efficiency while reducing the cost of machine failure.
2. Generative designGenerative design uses machine learning algorithms to mimic an engineer’s approach to design. Designers or engineers enter parameters of design (such as materials, size, weight, strength, manufacturing methods, and cost constraints) into generative design software and the software provides all the possible outcomes that can be created with those parameters. With this method, manufacturers quickly generate thousands of design options for one product.
3. Price forecasting of raw materialThe extreme price volatility of raw materials has always been a challenge for manufacturers. Businesses have to adapt to the unstable price of raw materials to remain competitive in the market. AI-powered software like can predict materials prices more accurately than humans and it learns from its mistakes.
4. RoboticsIndustrial robots, also referred to as manufacturing robots, automate repetitive tasks, prevent or reduce human error to a negligible rate, and shift human workers’ focus to more productive areas of the operation. Applications of robots in plants vary. Applications include assembly, welding, painting, product inspection, picking and placing, die casting, drilling, glass making, and grinding.
Industrial robots have been in manufacturing plants since the late 1970s. With the addition of artificial intelligence, an industrial robot can monitor its own accuracy and performance, and train itself to get better. Some manufacturing robots are equipped with machine vision that helps the robot achieve precise mobility in complex and random environments.
Cobots are another robotics application that uses machine vision to work safely alongside human workers to complete a task that cannot be fully automated. Feel free to learn more about cobots with our comprehensive guide.
5. Edge analyticsEdge analytics provides fast and decentralized insights from data sets collected from sensors on machines. Manufacturers collect and analyze data on edge to reduce time to insight. Edge analytics has three use cases in manufacturing:
Improving production quality and yield
Detecting early signs of deteriorating performance and risk of failure
Tracking worker health and safety by using wearables
To learn more about analytics in manufacturing, feel free to read our in-depth article about the top 10 manufacturing analytics use cases.
6. Quality assuranceQuality assurance is the maintenance of a desired level of quality in a service or product. Assembly lines are data-driven, interconnected, and autonomous networks. These assembly lines work based on a set of parameters and algorithms that provide guidelines to produce the best possible end-products. AI systems can detect the differences from the usual outputs by using machine vision technology since most defects are visible. When an end-product is of lower quality than expected, AI systems trigger an alert to users so that they can react to make adjustments.
You can also check the lists of data annotation and AI/ML tools and services to find the option that best suits your project needs:
7. Inventory managementMachine learning solutions can promote inventory planning activities as they are good at dealing with demand forecasting and supply planning. AI-powered demand forecasting tools provide more accurate results than traditional demand forecasting methods (ARIMA, exponential smoothing, etc) engineers use in manufacturing facilities. These tools enable businesses to manage inventory levels better so that cash-in-stock and out-of-stock scenarios are less likely to happen.
8. Process optimizationAI-powered software can help organizations optimize processes to achieve sustainable production levels. Manufacturers can prefer AI-powered process mining tools to identify and eliminate bottlenecks in the organization’s processes. For instance, timely and accurate delivery to a customer is the ultimate goal in the manufacturing industry. However, if the company has several factories in different regions, building a consistent delivery system is difficult.
By using a process mining tool, manufacturers can compare the performance of different regions down to individual process steps, including duration, cost, and the person performing the step. These insights help streamline processes and identify bottlenecks so that manufacturers can take action.
For example, a manufacturer that employed a process mining tool in their procure-to-pay processes decreased deviations and maverick buying worth to $60,000.
9. AI-Powered digital twin use casesA digital twin is a virtual representation of a real-world product or asset. By combining AI techniques with digital twins, manufacturers can improve their understanding of the product and allow businesses to experiment in future actions that may enhance asset performance. There are typically 4 applications of digital twins in manufacturing:
10. Product developmentManufacturers can use digital twins before a product’s physical counterpart is manufactured. This application enables businesses to collect data from the virtual twin and improve the original product based on data.
11. Design customizationDue to the shift toward personalization in consumer demand, manufacturers can leverage digital twins to design various permutations of the product. This allows customers to purchase the product based on performance metrics rather than its design.
12. Shop floor performance improvementA digital twin can be used to monitor and analyze the production process to identify where quality issues may occur or where the performance of the product is lower than intended.
13. Logistics optimizationDigital twins allow manufacturers to gain a clear view of the materials used and provide the opportunity to automate the replenishment process.
What are the benefits of AI in manufacturing? SafetyManufacturing is one of the highest-risk industrial sectors to be working in with more than 3,000 major injuries and nine fatalities occurring each year. The involvement of robots in high-risk jobs can help manufacturers reduce unwanted accidents.
Cost ReductionAI technologies can reduce the operation costs of manufacturers due to several applications:
Leveraging AI technologies can enhance organizations’ analytics capability so that they can use their resources more efficiently, make better forecasts, and reduce inventory costs. Thanks to better analytics capabilities, companies can also switch to predictive maintenance leading to eliminating downtime costs and reducing maintenance costs.
This one is obvious but manufacturers don’t need to pay monthly salaries to robots. However, robots require CAPEX which needs to be weighed against the recurring cost of labor.
Faster decision makingThanks to IoT sensors, manufacturers can collect large volumes of data and switch to real-time analytics. This allows manufacturers to reach insights sooner so that they can make operational, real-time data-driven decisions.
24/7 production in dark factoriesFactories without any human labor are called dark factories since light may not be necessary for robots to function. This is a relatively new concept with only a few experimental 100% dark factories currently operating. However, dark factories will increase over time with the application of AI and other automation technologies since they have the potential to unleash significant savings, end workplace accidents and expand their production capacity.
Read more on AI applications in different industries:
If you still have questions on how AI revolutionizing the manufacturing industry, don’t hesitate to contact us:
Cem regularly speaks at international technology conferences. He graduated from Bogazici University as a computer engineer and holds an MBA from Columbia Business School.
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Top 12 Use Cases Of Rpa In Procurement Process In 2023
Chief Procurement Officers (CPOs) are pessimistic: 66% of them surveyed in 2023 believe that supply chain volatility will persist in 2023.
A remedy is a more robust procurement process that keeps the business ahead of the market and geopolitical dynamics. For instance, paying vendors on time ensures timely delivery of goods which sustains the manufacturing cycle. This at least ensures that whatever supply chain issues the company is facing, it’s not procurement-related.
Robotic process automation (RPA) can assist the procurement department in managing their procurement tasks better. In this article, we will explain the top 12 use cases of RPA in procurement.
1. Input identificationRPA’s first procurement application is input identification. RPA can retrieve each product’s input list from the bill of materials (BOM) and store it in a hub.
2. Contract managementRobotic process automation can automate contract management. Use cases would include:
Drafting B2B contracts by automatically extracting the vendors’ info and putting it on the draft
Sending notification to the procurement teams whenever a contract is reaching the expiry date
Archiving each contract in each vendor’s dedicated database
Using OCR and NLP to review contracts and ensure the SLA terms comply against company policy
3. Purchase request & purchase order submissionPurchase requests and purchase orders are submitted to inform the company’s decision-makers and the vendor of the type and quantity of the needed items.
4. Category managementDifferent departments are in charge of purchasing their own materials. RPA, intelligent automation, and ML tools can identify and assign each product’s category with the correct procurement department and tag them. RPA also reminds procurement staff to approve delivery notices or reschedule production in case of delayed shipments.
5. Purchase request approvalRPA in procurement is useful because it can automatically approve routine purchase requests by referring to business rule engines. For example, machine learning algorithm would identify the reorders for commonly used items. The data can then be structured. RPA bots will then place reorders. So as long as the orders meet the procurement strategy, orders for current needs can be approved without human involvement.
And if the order is an exception and needs human intelligence for assessment, the request can be forwarded to the procurement manager for final approval.
6. Automated re-orderingRPA in procurement can monitor the inventory levels on the dashboard and automatically create purchase orders for the reordering products. One of the benefits of automated re-orders is a consistent manufacturing process because the vital intermediary goods will always be in-time for the production cycle.
Automated re-orders would help bypass the need for a human to keep monitoring the inventory levels and fill out purchase orders electronically or otherwise. This ensures that the future needs of the company are tended to.
7. Inventory managementRobotic process automation (RPA) and IoT integration enables digital monitoring of inventory levels. This feature allows RPA to create automated reports and inventory audits.
Some businesses, such as restaurants, need to not overload their inventory of perishable produce. So it’s important to have a real-time Especially for businesses that rely on fresh inventory levels, such as restaurants that overload on perishable stuff, it’s important to have a real-time report of what exactly you have right now.
Automating inventory management also means products that stay in the warehouse longer can be recognized and purchased less, enabling smart procurement.
8. Three-way matchingAnother use case of RPA in procurement is automated three-way matching. The RPA bots can automatically compare purchase requests, with the supplier invoices, and the delivery receipt to confirm that the ordered products are those which should’ve been ordered. Three-way matching also ensures that the goods have been delivered.
9. Automated paymentsRPA bots can be scheduled to make automated payments after schedule triggers. On-time payments improve supplier relationship management and uphold the business reputation. Moreover, finance APIs allow ROA bots to make payments to the correct vendor in the right amount. That’s because they would exchange the information between the suppliers’ list and the AP automation solution. This reduces the workload of the procurement teams and makes correct, timely payments.
10. Supplier onboardingSame as with employee onboarding, companies can leverage RPA to automate parts of their supplier onboarding. For instance, RPA bots can extract vital information from the suppliers’ websites (such as their references, prices, etc.) and put it in a report.
Moreover, RPA in procurement also means that bots can asses the suppliers through rule-based decisions. For instance, if a company wants to hire an event planner with experience in the pharmaceutical industry, and there are no case studies of that on the vendor’s website or attached to their profile, they can be ranked lowest.
These preliminary assessments can be time-consuming. By having robots completing these tasks, the employees can spend their time on higher value work.
11. Price negotiationAfter receiving a vendor quote, companies can use RPA bots to automatically negotiate prices through a rules-based framework. So when it comes to approving/rejecting/negotiating a quote, intelligent automation-enabled RPA bots can compare the quoted price against the established threshold. Then following the conditional result (i.e., “if price is X% higher than Y, do Z”) the bots can send their rebuttal.
12. Digitized records For more on RPATo learn more about RPA and its use cases, read:
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Indonesia Plans To Launch A National Cryptocurrency Exchange In 2023
A major shift in Indonesia’s crypto industry: Will launch a national cryptocurrency exchange in 2023
2023 will see key reforms in Indonesia’s crypto industry: Indonesia plans to launch a national cryptocurrency exchange in 2023 before it shifts regulatory powers over such assets to the Financial Services Authority, from a commodities agency, according to a report from Bloomberg. Crypto assets in Indonesia are currently traded alongside Bappebti, a commodities-focused agency, which has jurisdictional power over the cryptocurrency space in Indonesia. As part of a broader financial sector reform, the FSA will assume regulatory power over the assets over the next two years, by which time the exchange should be set up, said Bappebti acting head Didid Noordiatmoko on Wednesday. With the reform, Indonesia aims to embrace cryptocurrency and provide related services for citizens of the country.
Didid Noordiatmoko, the acting head of Bappebti, stated that the FSA will assume regulatory power over crypto assets from the commodities agency over the next two years. During this time, Indonesia will set up a crypto exchange.
An official from Indonesia’s Ministry of Finance reported that the shift of regulatory power from commodities to securities agencies was warranted due to the status of crypto assets as investment vehicles. He added:
“In fact crypto assets have become investment and financial instruments, so they need to be regulated on an equal basis with other financial and investment instruments.”
There were 16 million cryptocurrency investors in Indonesia in the first eleven months of 2023, an increase from 11.2 million at the end of 2023. However, last year, the trading value dropped to around 300 trillion rupiah ($19.2 billion) from 859 trillion rupiah ($54.9 billion) a year earlier.
Countries such as Morocco, Nigeria, and Israel are working to introduce crypto regulations in 2023. Attention will be paid to the regulatory frameworks of countries like the United States and the United Kingdom. In the U.S. the cryptocurrency community is on the watch out for the rectification of the Lummis-Gillibrand crypto bill this year.
The crypto industry of Indonesia The shift in regulatory authorities will affect the 383 crypto assets and 10 local coins currently available in Indonesia. Bappebti is currently reviewing another 151 assets and 10 local coins. The country has 16 million crypto investors, with more rushing in despite an industry-wide downturn.
The crypto winter had an impact on the country’s crypto trading volume. Between January 2023 and November 2023, the trading value went from 859 trillion rupiah to 300 trillion rupiah, a 66% decline.
In December 2023, Perry Warjiyo, the Governor of Indonesia’s central bank, unveiled plans to launch a CBDC dubbed the “Digital Rupiah.” The CBDC will reportedly be used for various digital economic and financial transactions.
A digital token must be based on distributed ledger technology in order to be traded in Indonesia. The ABI and Bappebti conduct an evaluation known as the ‘analytical hierarchy process’ (AHP) on each local token issuer seeking a spot on the whitelist.
Due to a lack of personnel, particularly those knowledgeable about the technical aspects of the cryptocurrency industry, Indonesia’s regulators are turning to the ABI for help.
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