March 15, 2019

CIOs as a Growth Driver



The days of CIOs focusing exclusively on keeping technology systems working and up to date are over. As technology continues to evolve at a rapid pace, the CIO role is no longer restricted to merely saving costs and improving costs. Today, CIOs are also increasingly expected to innovate and contribute to a businesses' revenue stream.


Facing disruption from numerous fronts, pressure is mounting for companies to leverage innovative solutions to generate top-line growth. Who better to build these capabilities than CIOs, who have an array of emerging technologies at their disposal?


According to IDG’s recent State of the CIO survey,CIOs are focusing more and more on strategic business tasks, helping to identify new revenue opportunities, and operational innovations. Nearly two-thirds (62%) of CIOs say that the creation of new revenue-generating initiatives is among their job responsibilities. To support the creation of growth-driving initiatives, CIOs are learning about customer needs, building teams focused on innovation, and creating business case scenarios with defined costs and benefits. 


Welcome to the age of the CIO as a growth driver.


When It Comes to AI, Focus on Business Outcomes, Not Just the Technology
For CIOs aiming to drive growth for their companies, artificial intelligence (AI) platforms are an excellent starting point. A recent survey by Deloitte of “aggressive adopters” of cognitive and AI technologies found that 76% believe that they will “substantially transform” their companies within the next three years.



The possibilities would seem to justify the hype. AI isn’t just one technology, but a wide array of tools, including a number of different algorithmic approaches, an abundance of new data sources, and advancements in hardware. A recent McKinsey study pegs the potential economic value of AI tools at between $3.5 trillion and $5.8 trillion.

Nevertheless, there remains a large gap between aspiration and reality. Gartner estimates that 85% of big data and AI projects fail.

There are manifold reasons for these failures, but a chief culprit is CIOs taking a technology-centric approach – wasting precious time by experimenting with an AI platform in the futile hope that will solve all problems for everybody across the enterprise – instead of finding an AI platform that delivers on actual business outcomes. Rather than focusing exclusively on an AI platform’s technology, forward-thinking CIOs should strive for an AI platform that drives specific business objectives and key performance indicators (KPIs) that are valuable to their organization.

In lieu of a technology-centric approach, progressive CIOs are opting for AI platforms that take an asset-and-process-centric approach. Put simply, they are selecting an AI platform that enables their companies to achieve competitive advantage and generate new revenue streams by maximizing asset performance/reliability and process efficiency/optimization.


Reduce Time to Impact, Guarantee Reliability
In addition to ensuring their company’s AI platform drives growth by delivering on critical business outcomes, CIOs must also make certain that the AI solution reduces time to impact and guarantees reliability.

Rapid deployment of the AI platform is vital to keeping up with the accelerated needs of the modern business world and safeguarding the organization from being left behind. Moreover, the platform must possess the ability to scale quickly across the enterprise, so that its benefits can be distributed throughout the business efficiently and effectively.

Finally, the AI platform must demonstrate a proven track record of success for all of the above –imparting value by empowering companies to consistently solve problems and meet business goals, reducing time to impact by standardizing the solution and empowering self-service for users, and assuring reliability by providing rigorously tested scientific solutions and deploying at scale.

Case Study: Leading Specialty Chemicals Company
By way of example, a leading multi-national specialty chemicals company headquartered in Germany faced numerous problems: 1) their quality check analysis procedures were conducted post-production rather than pre-production, 2) they lacked real-time intervention and quality control during the manufacturing process, 3) their standard operating procedures failed to consider the dynamics of the manufacturing process, and 4) they were consistently 2-3% off-spec annually.

By leveraging the Cerebra AI platform tuned for the Industrial Internet of Things (IIoT), this company achieved 95% accuracy in quality prediction for its finished goods and reduced its time taken for Root Cause Analysis by 90%. Additionally, the company experienced a 14% drop in off-spec products and lowered its customer complaints by 37%.

Closing Thoughts
From being a cost-center in the past, to a growth driver today, CIOs will play an increasingly important role in increasing the top-line. The CIO is uniquely positioned to play a major part in the overall success – and profitability – of their organization.
Forward-thinking, growth-driving CIOs will continuously search for opportunities to improve their companies through the implementation of digital technology, and it can begin by selecting an AI platform that attains desired business outcomes.


By: Greg Slater, Flutura




January 15, 2019

Here’s to 2018 – A Great Year for Flutura!



Before we get too far into 2019, we wanted to take a proud look back at the past year. Flutura reached many significant milestones and achieved numerous accomplishments over the last twelve months.


Here are some of our highlights from 2018:


  • Continued Growth: Our brand maintained its strong growth trajectory, as 2018 saw a 150% increase in the number of assets managed by Cerebra. We also added more than 120 new product features to Cerebra.
  • Prestigious Projects: We expanded our footprint across high-profile, mission-critical deployments such as powering Drilling Operations Command Center, powering remaining useful life for mining operations, powering next-generation ultrasonic flow meters, analyzing non-destructive testing for quality optimization, and many more.
  • Added Crucial Talent: Flutura continued to scale in 2018, as we expanded our team with key hires across various critical functions in engineering operations, presales, and sales, among other areas.
  • Hitachi Investment: Flutura signed a strategic partnership and investment agreement with Hitachi High-Tech Solutions, which paves the way for us to provide our market-leading IIoT solutions to Hitachi’s customers through rapid and cost-efficient implementations, primarily among heavy machinery OEMs.
  • Siemens Partnership: In September, we announced a partnership with Siemens which will enable customers to benefit from Cerebra’s pre-built industry-specific applications on MindSphere, Siemens’ cloud-based, open IoT operating system, particularly for the specialty chemicals and oil/gas industries.
  • Gartner IIoT Magic Quadrant: Flutura was one of the vendors recognized by Gartner in its inaugural edition of the Magic Quadrant for Industrial IoT Platforms.
  • Frost & Sullivan Excellence In Best Practices Award: Frost & Sullivan recognized Flutura as the 2018 North American Artificial Intelligence in Energy Entrepreneurial Company of the Year at its Excellence in Best Practices Awards Gala.
  • Recognized as Top Innovator: Flutura was acknowledged as one the most innovative startups by Inc42, which evaluated thousands of startups and narrowed the field to its top 42, including Flutura.
  • Airbus Innovation Hub: Flutura was selected by Airbus as one of the startups for its prominent BizLab global aerospace business accelerator, where startups and Airbus intrapreneurs speed up the transformation of innovative ideas into valuable businesses.


We take a lot of pride as we reflect on 2018, and we are confident that 2019 will be another big year for Flutura.


But don’t take our word for it. Read the insights from CRN, which just named Flutura as one of the “10 Hot IoT Companies to Watch in 2019.”



Visit website: www.flutura.com

January 10, 2019

Henkel Maintains Golden Batch with Leading AI Platform

Henkel Harnesses the Power of AI and Saves $300M Annually





One of the most important challenges currently faced by process chemical manufacturing companies is creating products which are golden batch quality. Ideally, optimal product quality is achieved “first time right” by streamlining all processes for best product outcomes.

Leading manufacturing plants are accomplishing this today by leveraging Cerebra – an Artificial Intelligence (AI) platform tuned for the Industrial Internet of Things (IIoT) in the specialty chemical industry.


Data ingested into Cerebra provides actionable insights, delivering visibility into all stages of the manufacturing process. Cerebra gathers data from the processes and identifies the key parameters influencing product quality — empowering manufacturing plants to consistently get product outcomes right the first time (i.e., without needing to rework the batch due to poor quality).


Watch this video to learn how Cerebra enabled Henkel, the world’s leading adhesive manufacturer to reduce its time taken for root cause analysis by 90%, achieve 95% accuracy in quality prediction, and win the 2018 Connected Plant Game Changer Award.


Since its inception, Cerebra has impacted over 15 countries — improving asset uptime and increasing operational efficiency for over 20 manufacturing plants and more than 100 process lines.

Ready to learn more? Let’s start a conversation. Send an email to [email protected], or visit our website and click on the “Request a Demo” button in the top right corner.




January 9, 2019

Industrial AI Trends and Predictions for 2019




Trend-1: Cambrian explosion of vertical AI solvers

More AI companies in 2019 are going to solve ultra-specific industry problems which are narrow and deep. For example, Flutura has created specialized drilling efficiency AI apps that reduce invisible loss time in the upstream drilling process. These are not generic, AI algorithms; these are deeply specialized to solve a high impact problem.

Why is this important? 

As deep learning algorithms become democratized, novel AI applications that solve a narrow and deep problem become more important than a horizontal AI platform which needs immense tuning for the industry context.

Trend-2: AI powered business models that create new revenue pools

In 2019, the adoption of the “as-a-service” business model will accelerate to the point where customers are not obsessed with owning an asset but instead, consuming a service. For example, Flutura is powering remote AI powered prognostics as a service where the end customer pays the OEM per asset per app per month.

Why is this important?

As AI accelerates and the cost of sensors plummet, creating new revenue pools using AI is going to be an even more attractive value proposition. This convergence of trends is going to put the “AI-as-a-Service” business model on an exponential growth curve.


Trend-3: AI fades into the background and autonomous operations rise to the foreground

In 2019, we are going to see AI fade into the background and see more of autonomous equipment which self-learn with its cognitive abilities. For example, Flutura is working with a large upstream OEM provider to make 60% of its upstream operations autonomous by 2025.

Why is this important?

This is very important because AI is not just generating insights to augment operations but is also playing a very active role in recommending a front line option and executing the same through control systems. This means higher efficiencies, lower costs and improved safety conditions in mission critical onshore and offshore operations


Thoughts?

Visit our website to start a conversation with us : www.flutura.com