Artificial intelligence in industry

Aspen Technology Enables Customers to Drive Higher Levels of Operational Excellence with New Software Capabilities

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Mercoledì, Maggio 29, 2024
Software, Oil, Gas, Data Management, Sustainability, Energy, Technology, Artificial Intelligence, Environment, Security, Engineering, Chemicals, Plastics, Manufacturing, FMEA, Aspen Technology, Automation, Artificial intelligence in industry, AVA, Industrial, Data management, AI, Agility, ARC, Unified, MES, Risk management

The latest version of aspenONE, V14.3 May 2024, helps customers achieve new levels of operational excellence with expanded Industrial AI throughout the portfolio, additional integration of industrial data management across solutions and advancements in planning and scheduling capabilities.

Key Points: 
  • The latest version of aspenONE, V14.3 May 2024, helps customers achieve new levels of operational excellence with expanded Industrial AI throughout the portfolio, additional integration of industrial data management across solutions and advancements in planning and scheduling capabilities.
  • These models provide guardrails, robustness and trusted results to ensure customers can leverage AI-based technology to improve agility, guide decision-making and drive higher levels of efficiency through automation.
  • With the release of V14.3, the planning and scheduling capabilities in Aspen Unified™ have been enhanced with Industrial AI to attain higher levels of optimization.
  • Visit our release page for a comprehensive view into the features and capabilities included in aspenONE V14.3 May 2024.

Momenta Leads Investment in Composabl, Expanding Industrial AI and Autonomy

Retrieved on: 
Mercoledì, Maggio 8, 2024
Internet of things, AI, Artificial intelligence, Growth, Culture, Automation, Microsoft, Rockwell Automation, Artificial intelligence in industry, SAN, Autonomy

SAN FRANCISCO and ZURICH, May 8, 2024 /PRNewswire-PRWeb/ -- Momenta, the leading Industrial Impact ® venture capital firm, has led the seed round for Composabl, a trailblazing company at the forefront of industrial AI and autonomy. Momenta's investment, along with the participation of other notable investors such as Ridgeline Ventures, Exposition Capital, and Hannah Gray Ventures, will drive advancements in industrial processes and aligns with Momenta's commitment to entrepreneurs and leaders improving industrial operations and outcomes.

Key Points: 
  • Momenta leads the seed round for Composabl, a trailblazer in industrial AI and autonomy, joined by Ridgeline Ventures, Exposition Capital, and Hannah Gray Ventures.
  • SAN FRANCISCO and ZURICH, May 8, 2024 /PRNewswire-PRWeb/ -- Momenta , the leading Industrial Impact ® venture capital firm, has led the seed round for Composabl , a trailblazing company at the forefront of industrial AI and autonomy.
  • "Composabl's dedication to empowering engineers with AI building blocks and its focus on creating trustworthy Industrial AI agents aligns with our vision for the Agentic future of industrial technology," said Michael Dolbec , Managing Partner of Momenta.
  • Our leading role in edge computing and IoT solutions gives us a deep appreciation for the value of industrial AI and autonomy and, thus, the potential for AI-powered optimization solutions.

IFS announces best Q1 results in company history with 26% increase in ARR YoY and 20% increase in Cloud revenue YoY

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Giovedì, Maggio 2, 2024
Cloud, NGE, Evergy, Service management, ARR, Research, EAM, EUR, Conference, Culture, Enterprise asset management, Information Systems Research, ESG, Artificial intelligence in industry, Airport, Industrial, SAP, Investment, IBM, Information system, MIT, Mobile phone

LONDON, May 2, 2024 /PRNewswire/ -- IFS, the global cloud enterprise software company, today announced its financial results for the first quarter ending March 31, 2024. The results reflect the best start to the year in company history – an early victory for new CEO Mark Moffat, who was appointed on January 9th, 2024.

Key Points: 
  • The results reflect the best start to the year in company history – an early victory for new CEO Mark Moffat, who was appointed on January 9th, 2024.
  • "Our Q1 results are the continuation of our relentless focus on what makes us successful: listening to and delivering value to our customers.
  • 26 percent ARR increase year-on-year combined with strong subscriptions renewals is setting us up for continued steady growth in 2024."
  • Q1 FY2024 net revenue was EUR 269m, an increase of 16 percent versus Q1 2023.

IFS announces best Q1 results in company history with 26% increase in ARR YoY and 20% increase in Cloud revenue YoY

Retrieved on: 
Giovedì, Maggio 2, 2024
Cloud, NGE, Evergy, Service management, ARR, Research, EAM, EUR, Conference, Culture, Enterprise asset management, Information Systems Research, ESG, Artificial intelligence in industry, Airport, Industrial, SAP, Investment, IBM, Information system, MIT, Mobile phone

LONDON, May 2, 2024 /PRNewswire/ -- IFS, the global cloud enterprise software company, today announced its financial results for the first quarter ending March 31, 2024. The results reflect the best start to the year in company history – an early victory for new CEO Mark Moffat, who was appointed on January 9th, 2024.

Key Points: 
  • The results reflect the best start to the year in company history – an early victory for new CEO Mark Moffat, who was appointed on January 9th, 2024.
  • "Our Q1 results are the continuation of our relentless focus on what makes us successful: listening to and delivering value to our customers.
  • 26 percent ARR increase year-on-year combined with strong subscriptions renewals is setting us up for continued steady growth in 2024."
  • Q1 FY2024 net revenue was EUR 269m, an increase of 16 percent versus Q1 2023.

ThroughPut.AI unveils new innovative AI-powered Inventory Capabilities to rapidly accelerate Profitability

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Giovedì, Maggio 2, 2024
Spend, Artificial intelligence in industry, Supply, Organization, Growth, ROI, Network throughput, Industrial, Risk, PALO, Gartner, Risk management

PALO ALTO, Calif., May 2, 2024 /PRNewswire/ -- ThroughPut Inc., the Industrial AI Supply Chain Decision Intelligence pioneer as recognized by Gartner, today announced the launch of new inventory management capabilities that enable businesses to optimize working capital and improve profitability through dynamic management of safety stock and cost-effective omnichannel order fulfillment.

Key Points: 
  • With these new capabilities, businesses now have unparalleled actionability and visibility over inventory across locations, silos, material movement, cash flows and systems.
  • Thus enabling clients to ensure rapid availability of fast-moving inventory, reduce safety stock and carrying costs, and increase inventory turns.
  • Strategic Replenishment Strategies: Actionable insights to dynamically assess and optimize working capital spend based on working capital spend thresholds.
  • This helps businesses to minimize expenditure and drive efficiency by modifying the timing, size, and destination of replenishment orders.

ThroughPut.AI unveils new innovative AI-powered Inventory Capabilities to rapidly accelerate Profitability

Retrieved on: 
Giovedì, Maggio 2, 2024
Spend, Artificial intelligence in industry, Supply, Organization, Growth, ROI, Network throughput, Industrial, Risk, PALO, Gartner, Risk management

PALO ALTO, Calif., May 2, 2024 /PRNewswire/ -- ThroughPut Inc., the Industrial AI Supply Chain Decision Intelligence pioneer as recognized by Gartner, today announced the launch of new inventory management capabilities that enable businesses to optimize working capital and improve profitability through dynamic management of safety stock and cost-effective omnichannel order fulfillment.

Key Points: 
  • With these new capabilities, businesses now have unparalleled actionability and visibility over inventory across locations, silos, material movement, cash flows and systems.
  • Thus enabling clients to ensure rapid availability of fast-moving inventory, reduce safety stock and carrying costs, and increase inventory turns.
  • Strategic Replenishment Strategies: Actionable insights to dynamically assess and optimize working capital spend based on working capital spend thresholds.
  • This helps businesses to minimize expenditure and drive efficiency by modifying the timing, size, and destination of replenishment orders.

Management 'bought the AI hype' and expect value but research shows lack of organizational readiness is primary hurdle: IFS

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Martedì, Aprile 23, 2024
Ageing, System, AI, Research, Pressure, A&D, Optimism, ESG, Failure, Data management, Artificial intelligence in industry, Construction, Industrial, Organization, Engineering, Energy

LONDON, April 23, 2024 /PRNewswire/ -- New research from IFS, the global cloud enterprise software company, has found that executive and board leadership have 'bought the AI hype' but organizations are unable to deliver operationally on expectations. The new global study of 1,700 senior decision makers, Industrial AI: the new frontier for productivity, innovation and competition, found that the promise of AI is being held back by technology, processes and skills. Half of respondents remain optimistic that with the right AI strategy, value can be realized in the next two years, and a quarter believe in the next year.

Key Points: 
  • The hype has become so high that 82% of senior decision-makers acknowledge that there is significant pressure to adopt AI quickly.
  • According to IFS, a robust Industrial AI strategy requires a potent combination of cloud, data, processes, and skills.
  • 80% of respondents agree that the lack of a strategic approach means they have insufficient skills in-house to successfully adopt AI.
  • AI value simply will not be found in a single AI capability but instead by delivering AI across all products and business processes.

Management 'bought the AI hype' and expect value but research shows lack of organizational readiness is primary hurdle: IFS

Retrieved on: 
Martedì, Aprile 23, 2024
Ageing, System, AI, Research, Pressure, A&D, Optimism, ESG, Failure, Data management, Artificial intelligence in industry, Construction, Industrial, Organization, Engineering, Energy

LONDON, April 23, 2024 /PRNewswire/ -- New research from IFS, the global cloud enterprise software company, has found that executive and board leadership have 'bought the AI hype' but organizations are unable to deliver operationally on expectations. The new global study of 1,700 senior decision makers, Industrial AI: the new frontier for productivity, innovation and competition, found that the promise of AI is being held back by technology, processes and skills. Half of respondents remain optimistic that with the right AI strategy, value can be realized in the next two years, and a quarter believe in the next year.

Key Points: 
  • The hype has become so high that 82% of senior decision-makers acknowledge that there is significant pressure to adopt AI quickly.
  • According to IFS, a robust Industrial AI strategy requires a potent combination of cloud, data, processes, and skills.
  • 80% of respondents agree that the lack of a strategic approach means they have insufficient skills in-house to successfully adopt AI.
  • AI value simply will not be found in a single AI capability but instead by delivering AI across all products and business processes.

RoviSys recognized as a System Integrator Giant for 2024

Retrieved on: 
Martedì, Febbraio 6, 2024
Giant, Artificial intelligence in industry, Growth, Industrial, Automation, MES, Information management

AURORA, Ohio, Feb. 6, 2024 /PRNewswire-PRWeb/ -- RoviSys, a leading global provider of comprehensive process automation, building automation, discrete manufacturing automation, and digital transformation solutions, has been acknowledged by CFE Media as a System Integrator Giant for 2024. RoviSys maintains its strong standing, securing the second position on the list of top System Integrators, and within the top five since 2018.

Key Points: 
  • AURORA, Ohio, Feb. 6, 2024 /PRNewswire-PRWeb/ -- RoviSys, a leading global provider of comprehensive process automation, building automation, discrete manufacturing automation, and digital transformation solutions, has been acknowledged by CFE Media as a System Integrator Giant for 2024.
  • RoviSys maintains its strong standing, securing the second position on the list of top System Integrators, and within the top five since 2018.
  • In 2024, the SI Giants list comprises eighty (80) system integrators, ranking them based on system integration (SI) revenue for the most recently completed fiscal year.
  • This ranking includes control and automation system integration firms participating in the CFE Media and Technology Global System Integrator Database.

IFS reports industry leading results with 33% software revenue growth for 2023

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Martedì, Gennaio 30, 2024
Cloud, Tele2, Public utility, ESM, ERP, FSM, Tele, Stannah Lifts, City, Poka, Trust, US Naval Advance Bases, CFO, Partnership, EAM, AI, CIO, Moment, ESG, Ecosystem, ARR, Construction, PwC, NOTE, Conference, Industrial, EUR, Artificial intelligence in industry, APJ, A. J. Foyt, Yoy, Growth, Video game

IFS's product innovation in IFS Cloud and the inherent IFS.ai capabilities are in demand from existing customers and has attracted a large number of new customers choosing IFS over industry peers.

Key Points: 
  • IFS's product innovation in IFS Cloud and the inherent IFS.ai capabilities are in demand from existing customers and has attracted a large number of new customers choosing IFS over industry peers.
  • IFS CEO Mark Moffat commented: "This time last year we reported five years of strong consecutive double-digit growth.
  • Financial and Operational Highlights for FY 2023, growth YoY:
    FY2023 software revenue was EUR 853m, an increase of 33 percent versus 2022.
  • The IFS partner Ecosystem delivered some equally strong results with a 10% growth YoY in partner contribution to 41%.