ZYFRA Group has also launched MDCPlus – a real-time machine monitoring and manufacturing data collection (MDC) system – for the European and Asian markets
Finland-based Artificial Intelligence (AI) and Industrial Internet of Things (IIoT) solutions developer, ZYFRA Group, has joined The Industrial Internet Consortium (IIC) as a member
The Industrial Internet Consortium, now incorporating OpenFog, is the world’s leading organization transforming business and society by accelerating the Industrial Internet of Things (IIoT).
“We are delighted to have Zyfra as a member of the IIC to share its industry knowledge and expertise about AI and industrial technologies with other members,” said Dr. Richard Soley, Executive Director, IIC.
Founded in November 2017, ZYFRA Group currently operates in Finland, China, Russia, Bulgaria and India. By the end of 2018, more than 270 production facilities are equipped with its products.
Zyfra Group develops new IIoT solution
Pavel Rastopshin, Managing Director at Zyfra Group, also announced that they have developed an IIoT solution, MDCPlus – a real-time machine monitoring and manufacturing data collection (MDC) system – for the European and Asian markets.
According to him, MDCplus system works with hundreds of customizable reports and charts that can be used to track jobs, operations, work part procedures, personnel activities; to evaluate the overall equipment efficiency (OEE) and production costs; to record scrap and to determine downtime and reasons for downtime.
This system is already being implemented at enterprises in Helsinki, India and China. This year, the company plans to begin predicting possible equipment breakdowns and tool wear, said Rastopshin.
Application of IIoT and AI solutions likely to see exponential growth
The application of IIoT and AI in manufacturing are projected to generate $45 billion value globally by 2022, in four primary forms: operational efficiency, predictive and preventative maintenance, supply chain management, and inventories and logistics.
Analysts anticipate the application of IIoT to maximize factory floor efficiency will have the largest impact among the four IIoT application forms, increasing productivity by as much as 25 per cent.
Smart factories are expected to generate up to $3,7 trillion in the same period.