Profet AI, a Taiwan-based enterprise artificial intelligence (AI) application provider for the manufacturing industry, has announced the official launch of AI Lifecycle Management Platform (AILM), an enterprise platform for AI governance.
AILM enables manufacturers to control, manage, and propagate their core domain know-how, both internally within the company and externally to facilitate expansion to other countries or locations, Profet AI said in a statement on Tuesday.
According to the statement, AILM aids enterprises in the early stages of the AI lifecycle by standardizing the process of identifying and selecting the most suitable problems for applying AI to.
It also improves the transparency of the implementation process which aids effective cross-organizational collaboration.
After completing a project, it facilitates the dissemination of these AI paradigms throughout the organization.
According to the statement, manufacturing leaders universally recognize the pressing need for AI adoption.
However, cited the “Manufacturing Leadership Council’s 2023 Industrial AI in 2030 survey”, it said that only around 29 percent of companies have integrated their AI initiatives into formal plans or strategies. This was despite 96 percent of manufacturers planning to increase investments in AI.
Drawing from its experience of working with more than 160 manufacturing clients, Profet AI has identified four common challenges that enterprises face when adopting AI.
Firstly, there is no standardized way of choosing the right problems to apply AI to.
Secondly, there is a lack of transparency in the way AI is implemented throughout enterprises.
Thirdly, it is difficult to effectively disseminate AI knowledge throughout an entire company.
Although many customers already utilize AI, often departments use different methods, and this experience and knowledge are not shared.
Thus, the motivation behind developing AILM was to assist partners in overcoming these challenges, through leveraging AI to achieve ‘judgement standardization’.
“We anticipate that AI management will have a transformative impact on the manufacturing sector, similar to what generative AI has already had on global business,
“AI governance will become an essential capability for enterprises to maintain a competitive advantage by extracting valuable insights from vast amounts of data and patterns,” said Jerry Huang, Co-Founder and Chief Executive Officer of Profet AI.
According to the statement, AILM offers case library, real time tracking, real time analysis, enterprise knowledge base, no-code AI application development to meet the decision-making requirements of the AI lifecycle governance process.
The platform provides an AI industry case library and AI standardization management tools, including flexible and configurable templates, to help users and managers establish a company-wide AI mindset.
It also optimizes analysis by providing real-time tracking, allowing teams to quickly process data, clearly identify problems, and boost project success rates and return on investment (ROI).
The platform also helps enterprises foster a culture of AI usage by accumulating knowledge and experience, which can easily be shared across departments and regions.
When used in conjunction with ProfetAI’s No-code AutoML platform, AILM also enables enterprises to quickly develop and deploy AI applications aligned with their strategic objectives, and seamlessly integrates AI tools into daily workflows
Profet AI said that the next step in the AILM product roadmap for the rest of the year is the integration with Generative AI.
This integration will significantly enhance the usage efficiency and experience of AI governance tools.
“AILM was built on the foundation of the collective experiences gained from working with hundreds of global manufacturing clients,
“We will continue to listen to our customers and integrate their needs and expectations into the AILM product development roadmap,” said Foster Lin, Co-founder and Chief Product Officer of Profet AI.
Profet AI is a manufacturing artificial intelligence software company that provides an end-to-end no-code AutoML platform and on-demand AI application knowledge base to enable industry sectors or information technology (IT) professionals to quickly build high-quality predictive models and rapidly deploy AI applications to solve daily production and digitization challenges.
Profet AI announced the completion of a Series A funding round in January, raising a total of $5.6 million.
Additionally, the company has expanded into the markets of Vietnam,Japan, Malaysia, Singapore and Thailand.
This year, Profet AI also celebrated the launch of Profet AI Suzhou, a joint venture with industrial firm Aedgetech, in China.