A duo of tech companies, software providers AspenTech and engineering firm Wood PLC, have announced a partnership to deliver software to better allow companies to significantly improve the performance of their manufacturing and facility assets through an industrial-strength artificial intelligence.
AI
The two companies hope they can revolutionise the manufacturing industry with their new industrial-strength AI.
The AI software, dubbed "Aspen Mtell," created and provided by Aspen, is reportedly able to pinpoint failure signatures that precede degradation and breakdowns as well as predicting future failures -- supposedly weeks or months in advance -- and prescribing detailed solutions to dealing with them.
They refer to the analysis performed by the AI as a "multi-level approach," including analysing the root cause of an issue as well as scanning RAM and other memory banks to best pinpoint where the faults are or will occur.
They hope to bring Industry 4.0 technologies, such as predictive AI, into the manufacturing industry with an emphasis on efficiency, longevity and greener production.
Woods has decades of specialised and bespoke engineering integration which, when allied with the AI software provided by Aspen, relays a unique customised asset performance experience, according to the company.
Prabu Parthasarathy, the vice president of intelligent operations at Wood, said: "Wood has an extensive understanding of the performance optimisation needs of our clients and realised a unique opportunity to provide a solution to help enhance asset productivity and identify potential issues well ahead of time."
Darren Martin, CTO at Wood, said “We are excited to bring AspenTech into our strategic partnership ecosystem to unlock innovative technology solutions to solve our clients’ challenges.
"Aspen Mtell is part of our connected operations and maintenance programs that will allow our clients to detect patterns in operating data, allowing them to take prescriptive action and avoid unplanned downtime.
"Together, our vision is to drive value through digital twins across the full asset lifecycle, working to optimize asset performance, monitoring, and control across any environment.”
Greg Mason, senior vice president and general manager of APM, Aspen Technology, said: “The value of predictive and prescriptive maintenance is much more than simply predicting failures on large rotating assets.
“Companies that are truly focused on eliminating safety and environmental incidents tied to machine failure, in addition to avoiding production losses, understand the need to have a comprehensive predictive maintenance culture throughout the entire plant. This requires an analytics technology that is scalable, resources needed to deploy to scale, and the expertise to lead change management.
"I’m pleased to say that the partnership of AspenTech and Wood around the Aspen Mtell solution provides these three unique capabilities needed to bring contextualized AI for the process industries to scale."
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