View the published article on BusinessWire by clicking the link follows: https://www.businesswire.com/news/home/20190320005859/en/IoT-Automation-AI-2019-Accelerate-Industry-4.0
SHANGHAI, China, March 29, 2019 — Completing the journey to smart manufacturing will mean integrating human knowledge with more powerful computing, more automated production processes and smarter data analytics tools capable of processing and analyzing massive amounts of factory data in near real -time. “This will be necessary for creating the intelligence needed for engineers and operators to make smarter decisions that increase operational efficiencies, improve yield, engineering productivity and substantially drive business performance,” says W.K. Choi, CEO, BISTel, speaking at the opening of the company’s annual China Smart Manufacturing User Forum. BISTel is the market leading supplier of equipment engineering systems (EES), IoT edge computing solutions and AI enabled smart engineering applications for semiconductor, electronics and industrial manufacturing.
Choi sees Industry 4.0 as a three- part journey where the first two parts, IoT devices and engineering systems, are integrated with intelligence to detect, analyze and predict outcomes to everyday manufacturing challenges. The third part is integrating that intelligence in the enterprise to create a fully connected smart factory ecosystem in which IoT devices, equipment, engineering and enterprise level systems are completely interconnected allowing for large data flow, knowledge base, to be shared, managed and optimized across the entire ecosystem. The smart factory becomes more autonomous, empowering stakeholders to detect, analyze, predict and prescribe outcomes to manufacturing challenges that impact quality, productivity and profitability.
2019 will see a massive acceleration in the number of IoT sensors, big data and AI applications. 2019 will also see more Cloud, IoT enabled platforms introduced to the market. “These will fast become a driving force, integrating new AI solutions that analyze large data more effectively than ever,” commented Choi. Market research support this notion. In 2018 there were more than 6 billion IoT devices in the field. Numbers are anticipated to grow to more than 20 billion by 2022 claims a Gartner Group report.
IoT, AI, Edge, Cloud Dominate New BISTel Industry 4.0 Roadmap
To re-enforce its leadership in the space, BISTel has invested in a broad range of new AI smart manufacturing applications, including a health monitoring, preventive maintenance and predictive analytics solutions, as well as trace data analytics for best in class root cause analysis. Later this year BISTel will launch its first IoT Edge computing solutions that enable larger amounts of manufacturing data to be processed near the source of data creation while at the same time reducing network resources. Greatly reducing costs, this capability also means that A.I. applications such as fault detection and classification, and predictive data analytics can also be used effectively in remote locations. The company is also developing a new asset performance management (APM) solution that exemplifies the vision of industry 4.0 by connecting the entire manufacturing ecosystem.
IoT Spending to Grow to $1.2 trillion by 2022
BISTel is poised seize these growth opportunities by leveraging its 20 years of domain expertise in manufacturing. For example, technology spending on IoT is expected to reach $1.2 trillion by 2022, with a CAGR of 13.6% from 2017-2022 forecasted by leading market research firm IDC. Thanks to IoT, massive amounts of data are now available to the factory some even approaching petabyte ranges. To achieve the vison of industry 4.0, methods through which manufacturers process, and analyze this data will be pivotal to unlocking the benefits customers seek.
BISTel Positioned for Growth
“BISTel’s product roadmap integrates innovative EES, AI and IoT Edge solutions with industry leading Cloud IoT platforms to deliver this value to our customers,” added Choi. Cloud IoT, Edge technologies with AI applications deliver better computing, increased automation and more powerful data analysis tools able to prevent unscheduled downtime, improve equipment utilization, speed time to market, improve product quality, and optimize supply chain management to deliver unapparelled return on investment (ROI).
“The combination of IoT and AI is changing the way we manage data, disseminate information and make real-time decisions in the factory, especially as IoT becomes a bigger part of product development,” stated Choi. BISTel core business and new growth roadmap helps to complete the digital transformation of the manufacturing sector. “By deploying more intelligence into production, and along networks in the value chain we will better integrate and connect engineers, operators, processes and data to create unmatched, actionable intelligence for better, quicker and more profitable decision making,” declares Choi.
BISTel is leading provider of Equipment Engineering Systems (EES), IoT Edge computing solutions and AI smart applications to the global semiconductor, flat panel display, SMT/PCB, test, assembly, and packaging manufacturing industries as well as automotive, LED, and pharmaceutical manufacturing sectors. BISTel’s real-time, intelligent manufacturing solutions enable manufacturers to connect to and gather data from any data source, detect faults before they occur, optimize process flows, analyze large data and quickly identify root cause failures to mitigate risk. Now, through its new health monitoring, predictive maintenance and predictive analytics solutions, BISTel enable engineers and production operators to quickly predict outcomes and adapt real-time to changing manufacturing conditions. BISTel help customers improve quality, yield and engineering productivity leading to improved operational efficiencies, reduced production costs and better business performance. Founded in 2000, BISTel has 390 employees worldwide. Headquartered in South Korea, BISTel has operations in China, Europe, Japan, Singapore, and the United States. For more information visit bistel.com
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