Electrification and automation major ABB India Ltd on Tuesday (March 4) said ABB Motion has made a strategic investment in AI startup UptimeAI to optimise the health and performance of industrial motors, drives, and related assets.The investment, made through ABB Motion Ventures, involves ABB taking a minority stake in UptimeAI. Financial details of the transaction were not disclosed.
The collaboration aims to integrate machine learning and expert systems to monitor asset performance, enhance failure predictability, and reduce maintenance costs and risks for industrial customers. ABB expects the partnership to strengthen its digital offerings in predictive maintenance and operational efficiency.
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With over 1,000 failure modes covered by advanced AI/ML algorithms, the partnership is set to deliver outstanding reliability and efficiency. It leverages asset performance management services driven by AI/ML predictive maintenance and industry expertise.The initiative will initially focus on heavy asset industries, starting with addressing the needs of the cement, metals, and water pipes sectors in India. By introducing tailored solutions for these critical industries, the partnership seeks to enable companies to achieve operational excellence, reduce unplanned downtime, and enhance overall productivity.
The collaboration aims to integrate machine learning and expert systems to monitor asset performance, enhance failure predictability, and reduce maintenance costs and risks for industrial customers. ABB expects the partnership to strengthen its digital offerings in predictive maintenance and operational efficiency.
Also Read: ABB India shares over 5% off intraday highs post concall
With over 1,000 failure modes covered by advanced AI/ML algorithms, the partnership is set to deliver outstanding reliability and efficiency. It leverages asset performance management services driven by AI/ML predictive maintenance and industry expertise.The initiative will initially focus on heavy asset industries, starting with addressing the needs of the cement, metals, and water pipes sectors in India. By introducing tailored solutions for these critical industries, the partnership seeks to enable companies to achieve operational excellence, reduce unplanned downtime, and enhance overall productivity.
“Through this investment, we reaffirm our commitment to delivering innovative solutions that empower industrial customers to manage their assets effectively and sustainably”, said Soenke Kock, R&D Manager and Head of Development IoT and Analytics, ABB Motion Services.
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“By joining forces, we will optimise operations and address the unique challenges faced by industrial customers such as root cause analysis, continuous improvement, and knowledge management,” said Jagadish Gattu, Founder and CEO of UptimeAI.
Shares of ABB India Ltd ended at ₹5,195.15, up by ₹95.15, or 1.87%, on the BSE.