Siemens Selects Tangent Works to Democratize IoT Data Analytics for MindSphere
April 30, 2021 -- Siemens Digital Industries Software announces a partnership with Tangent Works to deliver simple-to-use artificial intelligence (AI) capabilities to get more value from IoT data. The new AI for Everybody solution integrates the power of Tangent Works InstantML technology into MindSphere, the industrial IoT as a service solution from Siemens, to enable users to instantly leverage IoT data collected by MindSphere to generate new insights without the need for complex model training and management.
Many organizations still struggle to scale their digital transformation projects and leverage IoT data using advanced artificial intelligence (AI) and machine learning (ML) technologies. Machine learning offers tremendous opportunities for industrial applications. However, it often requires deep knowledge about advanced statistics and how it’s applied in industrial use cases, as well as the scarce and expensive resource of data science experts.
“We are witnessing massive investments into digital and AI as companies get ready for post Covid-19 operations. Already before the pandemic, our research showed that a shortage of digital talent, especially in IT and data science, was the biggest challenge for companies looking to realize IoT, Industry 4.0 and AI initiatives,” said Knud Lasse Lueth, CEO at IoT Analytics. “This challenge will only get worse in the coming years and most firms will simply not find the experts that can build the machine learning models and integrate them into everyday operations. Companies that cannot find or afford these highly specialized digital employees will turn to low-code software tools to empower non-technical employees, or ‘citizen developers’.”
Using Tangent Works’ InstantML as an embedded component in MindSphere gives industrial users the ability to very quickly add AI capabilities to their MindSphere applications and solutions. With this approach, the IoT data stored in MindSphere can be instantly leveraged to generate actionable insights and prescriptive tools, enabling important industry use cases such as predictive maintenance, performance optimization, quality management and energy management.
“We always believed in the potential of our InstantML technology for industrial data,” said Henk De Metsenaere, co-founder of Tangent Works. “Now that Siemens, the true market leader in this space, has teamed up with Tangent Works this potential can be unlocked. The combination of Siemens’ MindSphere with Tangent Works’ InstantML technology will change the way industrial data will be used to the benefit of many of Siemens’ clients.”
“With the AI for Everybody solution, and with the integration of Tangent Works’ InstantML technology, customers and partners can now more quickly and easily extend the capabilities of MindSphere to better turn data into real and actionable insights and value,” said Raymond Kok, Senior Vice President of Cloud Application Solutions at Siemens Digital Industries Software. “With the ability to use AI/ML to generate hyper-automated predictive analytics, even citizen data scientists can leverage data and achieve immediate insights, at scale. This ultimately reduces complexity and puts the power of IoT data in the hands of the user.”
For further information on MindSphere, please see here.
About Tangent Works
Tangent Works was founded in 2014 by a team of data scientists and mathematicians who believe in the power of predictive modeling for optimizing operations and reducing costs, but found that the existing methods were far too complex and slow for broad adoption. Our mission is to democratize and de-mystify predictive modeling for forecasting and anomaly detection using our revolutionary, hyperautomated InstantML technology and make them accessible and productive for a broad range of business users and use cases. For more information go to www.tangent.works.
About Siemens Digital Industries Software
Siemens Digital Industries Software is driving transformation to enable a digital enterprise where engineering, manufacturing and electronics design meet tomorrow. The Xcelerator portfolio helps companies of all sizes create and leverage digital twins that provide organizations with new insights, opportunities and levels of automation to drive innovation. For more information on Siemens Digital Industries Software products and services, visit www.sw.siemens.com. Siemens Digital Industries Software – Where today meets tomorrow.
Source: Siemens Digital Industries Software