Global cloud enterprise software company IFS is making significant strides in the world of Industrial AI with its acquisition of California-based Falkonry, Inc.
The move positions IFS as a major player in the field, offering automated, high-speed data analysis solutions to the manufacturing and defense industries. Financial details were not disclosed.
Revolutionizing Industrial Data Analysis
Falkonry, a pioneer in Industrial AI software, has developed an AI-based, self-learning solution that revolutionizes data analysis for manufacturing and defense. This cutting-edge technology continuously monitors vast quantities of data related to assets, machinery, systems, and industrial processes. Its primary function is to identify and analyze unusual behavior and the root causes of failures.
Democratizing Intelligence
By integrating Falkonry’s automated and self-learning AI into their operations, organizations can democratize intelligence within their ranks. This enables operational users to take timely actions to prevent asset downtime, address quality issues, ensure compliance with emissions regulations, and automate process and workflow improvements.
Strengthening IFS’s AI Capabilities
The addition of Falkonry’s self-learning anomaly detection solution complements IFS’s existing suite of enterprise simulation and AI-based scheduling and optimization tools. This strategic move further solidifies IFS’s commitment to employing AI pervasively across various domains, providing end-to-end intelligent insights in Enterprise Asset Management (EAM), Enterprise Resource Planning (ERP), Manufacturing Execution Systems (MES), Planning, Scheduling, Optimization (PSO), Field Service Management (FSM), and Enterprise Service Management (ESM). The goal is to enhance productivity for both people and assets.
Falkonry’s Impressive Track Record
Headquartered in California, USA, with a regional presence in Mumbai, India, Falkonry was founded in 2012 by CEO Nikunj Mehta. The company boasts a diverse clientele across North America, South America, and Europe, including prestigious clients such as the US Navy and Air Force, Ternium, North American Stainless, Harbour Energy, and SSAB. This demonstrates Falkonry’s strong focus on the industrial manufacturing and defense sectors.
A Unique and Scalable Solution
IFS CEO Darren Roos expressed enthusiasm for the acquisition, highlighting Falkonry’s unique qualities in the market. Falkonry’s technology is not tied to specific platforms, making it highly adaptable, and it does not require data scientists, making it accessible and cost-effective. These attributes align seamlessly with IFS’s core values.
Continuing IFS’s Expansion in Smart Manufacturing
This acquisition follows IFS’s recent acquisition of Poka, a provider of connected worker technology designed to enhance the productivity and safety of factory and field operatives. With the integration of Falkonry and Poka into IFS Cloud, the company emerges as the leading vendor for organizations looking to establish innovative and efficient Smart Factories of the future.
As IFS continues to invest in cutting-edge technologies and expand its capabilities, it is positioned to play a pivotal role in shaping the future of industrial automation and smart manufacturing. Industry observers will be closely watching how these strategic moves translate into groundbreaking solutions for IFS’s clients worldwide.
