86 % EXECUTIVES BELIEVE THAT ECOSYSTEMS WILL BE A CRITICAL SUCCESS FACTOR IN THEIR INDUSTRY.
INDUSTRY WATCH
86 % EXECUTIVES BELIEVE THAT ECOSYSTEMS WILL BE A CRITICAL SUCCESS FACTOR IN THEIR INDUSTRY.
If humanity now has a new item in its toolbox, to quote the 2024 Nobel Committee for Physics, it is thanks to the interdisciplinary work of scientists John Hopfield and Geoffrey Hinton and their teams more than 30 years ago. That item is the neural network. A core Artificial Intelligence, AI technique, these brain-mimicking networks are integral to Machine Learning, Generative AI and deep learning.
They support a staggering array of use cases, from computer search, image recognition and language generation to finding subatomic particles, photographing black holes and understanding amino acid formation, the last use case also cited for the 2024 chemistry Nobel.
AI is everywhere because numerous scientists built on each other’ s work. Such collaboration is key to moving the needle in science, but also in business. Anyone who’ s ever attended a successful brainstorming meeting knows that working together helps solve tough problems and drive innovation.
Today’ s advanced industrial AI technologies, many springboarding off Hopfield and Hinton’ s work, present the opportunity to work together in new ways, enabling cross-company networks to drive efficiency, innovation, and growth. Using AI in tandem with other data-driven technologies, we can radically transform the concept of collaboration. individual limitations, cut costs, improve efficiency, and accelerate product and process innovation.
Nearly half, 45 % the industrial companies polled in the recent AVEVA Industrial Intelligence Index survey believe platforms that enable real-time data sharing and collaboration will drive the greatest opportunity for their organisations. They recognise that sharing AIinfused insights can elevate human ingenuity.
Collaborative approaches are crucial to scaling quickly now, as the Fourth Industrial Revolution presents new opportunities. Instead of rebuilding industries from the ground up, businesses can leverage partnerships to grow faster while staying responsive and flexible.
US cleantech specialist DERNetSoft unlocked new gains for a healthcare customer recently by eliminating data silos and optimising renewable energy systems. Managing energy use across 1,200 buildings, with many distributed resources, DERs such as solar, wind, microgrids, and fuel cell systems, was challenging due to siloed production data siloed and in different formats.
By adopting a vendor-neutral software-as-a-service, SaaS platform to track and analyse all this data, the customer saved millions of dollars in energy costs and reimbursements for overproduction, while identifying further ways to save tens of millions more.
Rob McGreevy, Chief Product Officer, AVEVA
With the industrial sector facing mounting challenges, the future of growth and innovation depends on such radical new approaches to collaboration, and not just within organisations but across entire sectors. We now collect more data than ever; global use next year will total an estimated 200 zettabytes.
Sharing that data and the resulting analytical and contextualised insights will be the foundation for creating value. With human direction, this industrial intelligence enables businesses to transcend
We must ramp up renewable energy to keep the 1.5 ° C goal within reach and achieve a net-zero economy. Companies like DERNetSoft and its partners show how radical collaboration can bring us closer to that target.
Deep partnerships rely on open, agnostic and interoperable systems to share data and analytics seamlessly with internal or external partners. Such an end-to-end view across the operating ecosystem enables real-time insights and rapid adoption of innovation across the ecosystem.
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