Demand for Industry-specific AI Drives Increasing Adoption of IFS.ai

ORLANDO - Octo. 16, 2024: IFS, the leading provider of enterprise cloud and Industrial AI software, has boosted its offering in the six hardcore industries it serves to 60+ in-depth Industrial AI scenarios that are available in the IFS Cloud 24R2 release, with more than 300 additional scenarios in the process of MVP (minimum viable product) validation.

Despite the noise around generic co-pilots and consumer-focused AI, IFS is driving change and adoption of arguably the most impactful application of AI: Industrial AI. IFS.ai is Industrial AI, with customers already using and able to immediately implement IFS.ai without the need for expensive investments in toolkits or additional implementation resource.

Th

e Industrial AI scenarios available today with IFS.ai fit within the following Classes and span both Generative AI and Predictive AI.

Generative AI:

• Content generation (personalized training; autogenerated project reporting)

• Recommendation (configuration to improve production quality; sourcing and supplier decision support)

• Contextual knowledge (assembly instruction and real-time guidance; unstructured data knowledge retrieve)

Predictive AI:

• Event forecasting (automated risk and mitigation; simulate product and asset behaviors)

• Optimization (optimize task sequencing; optimize vs. resources vs. capacity)

• Anomaly detection (proactive quality control and monitoring)

Customers already using IFS.ai are reporting rapid returns. Ependion has turned to IFS.ai to improve efficiencies in the Manufacturing space. CIO Joakim Stolt said: “IFS.ai Manufacturing Scheduling and Optimization (MSO) will help us increase productivity by automating our production planning process. We can quickly respond to changes based on external factors with AI-driven optimization designed to maintain high utilization of our critical resources to better meet customer demand. Ultimately, we are able to deliver optimal outcomes to our customers and product planners.”

Noble Corporation, a world-class offshore drilling company, is using IFS.ai to boost productivity and efficiency. Kristian Mortensen, manager, Maintenance Process & Solutions, said: “Ideally we only want to service or replace a component when it is within 80% of its predicted failure time or lifetime. IFS.ai promises to help us get a lot closer to that more efficient maintenance scenario. It also promises to make our systems perform better because we know what it is that we need to do – the critical failure point – from the legacy and analytics projections. If we want to change the maintenance interval, IFS.ai will help us to justify decisions to authorities and OEMs based on the historic data and insight available within the system.”

IFS.ai is the backbone of IFS’s ERP, Asset Management (EAM), and Service Management (FSM and ITSM) solutions. When applied to the industries IFS serves, the impact is profound:

• 8 out of 10 of the leading U.S. energy companies use IFS.ai to deliver power to American homes

• 200 million + Americans connect every day using cell phone networks maintained with IFS.ai

• 200 billion packages a year are sustainably produced and distributed across the world thanks to IFS.ai

• 2 billion people keep moving on elevators and walkways maintained and services with IFS.ai every day

• 105 million U.S. households have utilities powered by IFS.ai

• 9 billion sq ft of construction projects globally are managed with IFS.ai

• 310 million passengers a year fly safely thanks to aircraft maintained by IFS.ai

“Industrial AI is at the very core the solutions we are powering for customers. They are pushing us for ready-to-use AI that they can adopt quickly to solve real industrial challenges like labor shortages, supply chain disruption, stagnated productivity," said IFS Chief Customer Officer Cathie Hall. "IFS is the pioneer of Industrial AI, and we are committed to further extending our global leadership position, making more real-world AI use cases available for customers in our hardcore industries. The IFS mission is to accelerate the pace of AI development and adoption throughout our organization and into the products and services we deliver to customers. Our commitment to continued investment in IFS.ai has never been stronger.”

“IFS has strength in the breadth of service capabilities that incorporate AI, machine learning, and IoT,” said Aly Pinder, research vice president–Worldwide Aftermarket Services Strategies at IDC said. “IFS is helping organizations address the technology opportunities of a rapidly evolving market that is benefiting from advanced tools to insights, collaboration, and action. IFS has been able to incorporate these tools into an Industrial AI offering that drives improved service operations and outcomes.”

About IFS

IFS is the world's leading provider of Industrial AI and enterprise software for hardcore businesses that make, service, and power our planet. Our technology enables businesses which manufacture goods, maintain complex assets, and manage service-focused operations to unlock the transformative power of Industrial AI™ to enhance productivity, efficiency, and sustainability.

IFS Cloud is a fully composable AI-powered platform, designed for ultimate flexibility and adaptability to our customers' specific requirements and business evolution. It spans the needs of Enterprise Resource Planning (ERP), Enterprise Asset Management (EAM), Supply Chain Management (SCM), Information Technology Service Management (ITSM), and Field Service Management (FSM). IFS technology leverages AI, machine learning, real-time data, and analytics to empower our customers to make informed strategic decisions and excel at their Moment of Service.

IFS was founded in 1983 by five university friends who pitched a tent outside our first customer's site to ensure they would be available 24/7 and the needs of the customer would come first. Since then, IFS has grown into a global leader with over 6,500 employees in 80 countries. Driven by those foundational values of agility, customer-centricity, and trust, IFS is recognized worldwide for delivering value and supporting strategic transformations. We are the most recommended supplier in our sector.