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
- natural sciencescomputer and information sciencesinternetinternet of things
- natural sciencescomputer and information sciencessoftware
- social scienceseconomics and businesseconomicsproduction economicsproductivity
- engineering and technologyelectrical engineering, electronic engineering, information engineeringelectronic engineeringsensors
- natural sciencescomputer and information sciencesartificial intelligencemachine learning
Programme(s)
Funding Scheme
SME-1 - SME instrument phase 1Coordinator
0349 OSLO
Norway
The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.