Periodic Reporting for period 2 - Neuron Soundware (NSW) (Neuron Soundware: detecting machine failures early combining sound, AI and IoT technologies)
Reporting period: 2024-02-01 to 2025-01-31
Neuron Soundware has seen a substantial growth phase, expanding its technical team and doubling its sales force. This expansion accompanies a strategic shift towards partnerships with OEMs, marked by collaborations with industry giants in several fields. The company has revitalized its branding, including a new logo and website, to better align with these partnerships and has begun outbound marketing efforts. Notably, the availability of critical electronic components has improved, easing supply chain challenges. There's a growing focus on AI across various sectors, with companies seeking quick wins. Neuron Soundware is also tapping into the burgeoning market of electric grid monitoring, leveraging its multisensory approach to address challenges brought by electrification and renewable energy sources. This growth and strategic direction place Neuron Soundware at the forefront of innovative AI applications in industrial efficiency and manufacturing quality monitoring.
Neuron Soundware's recent updates to their nGuard platform have significantly enhanced user experience and functionality. Key developments include improved machine detail modules and a fleet dashboard, providing real-time and periodic overviews of machine fleets. These enhancements facilitate quicker configuration and offer valuable insights. Additionally, the Novelty Data Detection module is set to revolutionise AI model creation. This innovation not only reduces the number of samples needed for custom AI models but also addresses bandwidth limitations and database growth, which currently exceeds one billion recordings. Furthermore, it will be used to support the growing demand for custom AI models.
In a remarkable advancement in the field of AI technology, Neuron Soundware has achieved a significant milestone in automating the development of anomaly detection models. This breakthrough in auto-calibration of AI models represents a paradigm shift in how machine anomalies are detected and addressed, reinforcing Neuron Soundware's role as an innovator in the industry. The company is now set to unveil a new model that will further enhance the scope of AI in industrial applications. This new model is focused on semi-automated procedures for creating AI models that are specifically tailored to detect distinct issues in machinery. Such customisation is a strategic response to the diverse and dynamic needs of modern industries. The semi-automated process retains the precision of custom-built models while significantly speeding up the development time. This approach means that industries can have quicker access to bespoke AI solutions, tailored to their specific needs and challenges. It’s a development that promises to bring about a new level of efficiency and accuracy in industrial diagnostics and maintenance.