Canvass Analytics signs Stelco
By DE StaffGeneral Machine Building
Canadian firm’s AI software to augment intelligent operations at steelmaker’s operations.
Canadian industrial AI software firm, Canvass Analytics Inc., has signed an agreement with Stelco to use Canvass’ AI platform to transform its steel operations. According to Stelco, steel plants are challenged with untapped real-time data being processed across legacy systems, devices and machines.
“Canvass Analytics quickly demonstrated to us the usefulness of AI in certain areas of our operations and the potential of applying AI across our operations in order to increase our profitability and competitiveness,” Alan Kestenbaum, Executive Chairman of Stelco.
In many manufacturing processes, decisions are mostly based on institutional knowledge and limited data. As a result, BI Intelligence predicts that global manufacturers will invest $70 Billion on IoT solutions in 2020, up from $29 Billion spent in 2015.
Canvass Analytics leverages AI and machine learning to transform previously unconnected data into predictive analytics insights that improve key business metrics. Canvass bridges the gap between workforce knowledge and curated IoT inputs to create an intelligent operations solution that minimizes energy consumption, increases throughput, reduces downtime and extends the lifetime of a plant’s assets.
“As manufacturers digitize their operations floor, they are inundated with volumes of data coming from a multitude of sources,” Humera Malik, chief executive of Canvass Analytics. ‟The next step towards intelligent operations requires real-time analytics power that transforms operational data into actionable intelligence. Canvass Analytics empowers industrial operating teams to take control and make data-driven decisions that improves their performance, reduces costs and unlocks new revenue streams.”
Funded by Google’s AI-fund, Gradient Ventures, Canvass Analytics’ customers include Fortune 500 industrial companies across the manufacturing and Oil and Gas sectors.