Project description
New software keeps factories humming
Innovation and advances in technology can help to increase productivity at factories. The advent of Industry 4.0 is visible on the factory floor where sensors have been installed to collect production data. The question now is what to do with all this information. The EU-funded DATASET project has the solution. It will bring to market Intelecy, an off-the-shelf advanced AI software-as-a-service tool for manufacturing data analytics. This tool will allow the modern factory to integrate existing data acquisition systems and identify bottlenecks in the production process. For successful commercialisation, the project will start by creating market awareness. It will analyse competition and invest in the maturation of this web-based software product.
Objective
Modern factories are unnecessarily inefficient. A typical factory operates at only 66% productivity , which can cost industrial manufacturers an estimated $50 billion annually. Factories are wasting energy, water and raw materials, while simultaneously contributing 56% of global greenhouse gas emissions. With the rise of Industry 4.0 factory owners have begun equipping their facilities with sensors to collect production data across all kinds of assets. Unfortunately, these same factories are not prepared to utilize these massive amounts of data for smarter and sustainable operations and hence manual analysis is impossible. Modern factories need a solution which can easily integrate with their existing data acquisition systems and identify bottlenecks in the production process without requiring expert intervention. Intelecy is a web-based software product for predictive analytics and process optimization made specifically to harness the value of industrial IoT
data for manufacturers. Created in collaboration with the Norwegian University of Science and Technology (NTNU) in 2017. Intelecy is an off-the-shelf advanced AI SaaS tool for manufacturing data analytics. At Intelecy’s core operates an extensive library of machine learning algorithms specialized for industrial multivariate asynchronous time series data. We have purchased these algorithms from NTNU, making them our unique and exclusive property which cannot be easily replicated
by anyone else. for successful commercialization, we must create market awareness, analyze competition, and invest money in maturation of Intelecy. By achieving these objectives, Intelecy will generate revenue of 471 million euros and 450 new jobs by 2025.
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
- natural sciences computer and information sciences internet internet of things
- natural sciences computer and information sciences software
- social sciences economics and business economics production economics productivity
- engineering and technology electrical engineering, electronic engineering, information engineering electronic engineering sensors
- natural sciences computer and information sciences artificial intelligence machine learning
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Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
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H2020-EU.2.3. - INDUSTRIAL LEADERSHIP - Innovation In SMEs
MAIN PROGRAMME
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H2020-EU.3. - PRIORITY 'Societal challenges
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H2020-EU.2.1. - INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies
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Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
SME-1 - SME instrument phase 1
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Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
(opens in new window) H2020-EIC-SMEInst-2018-2020
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Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.
0349 OSLO
Norway
The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.