Feb 25, 2020   SOURCE: BusinessWire

Falkonry Launches Two New Operational AI Products Enabling Customers to Scale with Lower TCO and Shorter Time to Value

Falkonry, Inc., the leading enabler of predictive operations at scale for Global 2000 companies, today announced the availability of two new operational AI product offerings – Falkonry Workbench and Falkonry Analyzer. With a simple user subscription, Falkonry Workbench enables customers to rapidly analyze large amounts of data and cost effectively build predictive models that solve production problems. Falkonry Analyzer features a unique “pay as you deploy” subscription that lets customers economically scale the deployment of these models either on-premises, at the edge or in the cloud.

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Falkonry Workbench and Falkonry Analyzer help companies recognize significant ROI through predictive operations. (Photo: Business Wire)

Falkonry Workbench and Falkonry Analyzer help companies recognize significant ROI through predictive operations. (Photo: Business Wire)

“Scalability and lower total cost of ownership (TCO) are critical metrics by which company executives evaluate deployment success of their AI initiatives, yet today’s solutions fall short on that criteria,” said Dr. Nikunj Mehta, Falkonry Founder & CEO. “With Falkonry’s new and simplified subscription model, customers now have an extremely cost-effective and risk mitigated path to start realizing significant ROI through predictive operations.”

Customers using Falkonry’s Operational AI products have built tens of thousands of models, including one who has deployed models into production at a rate of one per week. Falkonry has made this process even easier by incorporating key automation capabilities for data preparation and model evaluation into its newest release. For example, Falkonry Workbench substantially cuts down on the traditional data manipulation effort required prior to any AI development by directly importing data files and also simplifying tedious tasks such as organizing and renaming signals, or dealing with missing information. In addition, its ability to auto-scale idle cloud resources on demand has enabled customers to achieve up to 50 percent reduction in typical operating costs.

Over the last six months, Falkonry has seen significant adoption in the oil & gas, manufacturing, metal production and mining operation markets, as well as defense & intelligence. These include new and expanding customers in North America, South America, Europe and Asia.

One such customer is Siemens who is pioneering the use of operational AI at their world-class electronics manufacturing facility in Amberg, Germany. Siemens engineers applied this approach to multiple use cases and quickly realized value in their production operations.

“Falkonry’s Operational AI software enables our manufacturing engineers to build predictive models themselves, which is critical to deploy these solutions at scale,” said Dr. Jochen Bönig, Head of Strategic Digitalization at Siemens. “Our engineers were very quickly able to predict critical failures with a high degree of accuracy two to three months in advance.”

About Falkonry Workbench

Falkonry Workbench leverages select capabilities from Falkonry’s flagship Falkonry LRS product, along with several new enhancements, and makes them available in an economical per-user subscription. This enables smaller organizations to leverage the power of Operational AI to analyze large amounts of operational data and rapidly build predictive models that significantly improve production uptime, quality and yield in their manufacturing and process operations. Falkonry Workbench lowers the TCO and shortens the time to value for manufacturing and operations teams by enabling them to automatically discover, predict and explain behaviors that impact their operations - without requiring data scientists. Falkonry Workbench enables users to:

  • Perform forensic analysis on historical data
  • Analyze root cause of past conditions
  • Build warning models for predicting failures
  • Build classification models for quality control

Falkonry Analyzer

Falkonry Analyzer replaces Falkonry’s Edge Analyzer with expanded capabilities that now enable predictive models to be deployed as portable self-contained engines, also known as analyzers, for live monitoring either on premises, at the edge or centrally in the cloud. Depending on the application, a single analyzer could be deployed to monitor multiple similar assets or systems. The simple and economical per-analyzer subscription lowers TCO.

Falkonry Analyzer extends Falkonry Workbench capabilities by enabling users to:

  • Export a model developed in Falkonry Workbench, as an analyzer for real-time monitoring of live data streams
  • Deploy analyzers as a standalone in edge gateways (with no connectivity to Falkonry Workbench) or within the cloud (as an add on to Falkonry Workbench)

About Falkonry

Falkonry enables predictive operations at scale for companies looking to achieve significant improvement in production uptime, quality and yield. Falkonry’s Operational AI systems lower the total cost of ownership and shorten the time to value for manufacturing and operations teams by enabling them to automatically discover, predict and explain behaviors that impact their operations - without requiring data scientists. These products easily scale across the enterprise either on-premises, in the cloud or on the edge. Customers achieve initial results in as little as a few weeks, enabling them to save millions of dollars in operating costs and achieve a 3-5 times ROI annually. For more information about Falkonry and its offerings, please visit www.falkonry.com.