California-based industrial analytics firm Plutoshift has released a cloud-based AI solution to connect asset and financial data to unearth previously inaccessible insights, trends, and revenues.
The new artificial intelligence (AI) application is targeted at the process industry, including verticals such as the food, beverage, and chemical sectors.
Plutoshift reckons companies in the process industry are hobbled, typically, in their digital transformation by ageing, on-premise systems. These systems cannot correlate the impact of asset performance over future revenue metrics, and lack the capabilities digitally-minded organisations now expect.
Plutoshift’s proprietary machine learning algorithms leverage a plant’s existing historical and real-time data to visualise complex and dynamic relationships, extracting actionable insights between asset behaviour and revenues, the company said.
Prateek Joshi, chief executive and founder of Plutoshift, said: “AI is only as good as the business outcomes it supports, so our biggest priority is to make it as easy as possible for our customers to achieve their business goals and generate the ROI as quickly as possible.”
Plutoshift partnered with a number of Fortune 500 customers in the food, beverage, and chemical industries to design and develop the solution, it said.
Its solution works with existing data systems, including SCADA, ERP, and CMMS, and integrates with every process historian available on the market. The solution is available as-a-service, on a monthly subscription.
