IFS acquires industrial artificial intelligence software company Falkonry

With this acquisition, IFS is now positioned as the only ERP, EAM, FSM and ESM supplier that can provide AI-powered anomaly detection. This means that on the platform offered by IFS, companies can manage the automation and optimization of their processes and workflows.

IFS, which provides enterprise business applications solutions on a global scale, announced that it has signed a definitive agreement to acquire Falkonry, a California-based industrial artificial intelligence software company that provides automated, high-speed data analytics to the manufacturing and defense industries.

This AI-based, self-learning solution continuously monitors assets, equipment, systems, industrial processes and large data volumes, discovering unusual behavior and causes of failures, providing companies with valuable insights.

Over the past two decades, the growth of assets, equipment and fleets has produced an unprecedented amount of data that has made real-time company monitoring extremely complex. Therefore, the improvement of operational points such as maintenance and process adjustments has been hampered. IFS envisions that Falkonry can automate work and process flow improvements, taking timely steps to prevent downtime, quality issues and emissions violations using automated and self-learning artificial intelligence.

The addition of Falkonry’s self-learning anomaly detection solution to IFS’ existing company simulation and AI-based scheduling and optimization capabilities further demonstrates the company’s strategy to use AI universally. This strategy aims to use artificial intelligence to deliver meaningful end-to-end information throughout the process in EAM (Enterprise Asset Management), ERP (Enterprise Resource Planning), MES (Production Management System), PSO (Planning and Scheduling Optimization), FSM (Field Service Management) and ESM (Enterprise Service Management) technologies. Thus, IFS aims to enable its customers to increase asset productivity in their processes.

Headquartered in California, USA and with a regional presence in Mumbai, India, Falkonry AI was founded in 2012 by Nikunj Mehta. The company has customers in North America, South America and Europe, including many in the industrial manufacturing industry and defense industries such as the US Navy and US Air Force, Ternium, North American Stainless, Harbor Energy and SSAB.

Source: Egirisim / Prepared by Irem Yildiz

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