Tag

Internet of Things

Falkonry is a Critical Component in the Next Wave of Technology

By | IT/OT Management

Falkonry discovers, recognizes, and predicts operating and performance conditions from time series data, using machine learning/pattern recognition. From its inception, the goal was to help industry become more productive using advanced signal processing techniques.

 

Falkonry logo

Falkonry builds on key technologies that are becoming prevalent in industry: #IoT/#IIOT (the Internet of Things); #ML (Machine Learning) and #AI (Artificial Intelligence).  Let’s look at each of these.

#IoT: Markets and Markets values the Internet of Things at $157.05 Billion in 2016, growing to $661.74 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 33.3% over the period. Growth is facilitated by a number of factors: the decreasing cost and proliferation of devices/sensors; the accessibility of low cost services, such as the #cloud and #big data processing, and the influx of new application providers, bringing choice into the market for users.  They highlight data management software is gaining high market traction with the help of cloud and predictive analytics to manage data generated from machineries. Falkonry, at its core, uses predictive analytics and pattern recognition to identify operations improvement opportunities, such as OEE (Overall Equipment Effectiveness) tuning.

#ML: Ironpaper.com defines machine learning as an area of computer science where machines learn patterns and recognize material without being explicitly programmed by a human. The cognitive computing market size is expected to surpass $12 billion by 2022, according to Grand View Research.  Falkrony uses Machine Learning to analyze data set features and provide condition analysis on a custom data set. It allows the automation of large-scale condition detection that previously required a massive human effort and cost to implement. Typical applications are Industrial and Transportation operations and maintenance, IT system anomaly detection, and others.

#AI: In a separate study, Markets and Markets forecasts the artificial intelligence (AI) market to be worth $16.06 Billion by 2022, growing at a CAGR of 62.9% from 2016 to 2022. Artificial intelligence is a consolidation of state-of-the-art technologies which are used to develop products which work similar to human intelligence.  AI is a broad category and includes hardware, software and services providers. Falkonry AI provides a cognitive/AI service that can automate the interpretation of telemetry and sensor data from industrial activity, IT processes, and high-end consumer assets. The Falkonry AI block allows you to analyze your massive realtime streams of data, and lets you build models or predict future action based on those data streams.

So, with Falkonry, the key technologies that are shaping the industrial market–#IoT, #ML, and #AI, are offered in one easy to use service. It allows companies that generate massive amounts of data, such as those in the process industries (oil and gas; metals, mining and minerals; pulp and paper) to detect, analyze, and understand the areas within a process that can be improved; where bottlenecks and choke points reside; and where in the process flow tuning can be applied.

For more information on Falkonry, please visit www.falkonry.com.