Noodle.ai and SMS digital Launch AI-Fueled Application for the Steel Industry
Leading Enterprise Artificial Intelligence® provider Noodle.ai and the digitalization team at SMS group, a trailblazer in digitalization for plant and equipment used in steel and nonferrous-metals production and processing, launched MPV today. MPV is the first joint AI-driven application for the steel industry. The launch follows the announcement of their partnership in June 2019.
As steel industry margins continue to shrink, one promising way for manufacturers to increase profitability is to pursue more advanced, high-strength steel production for applications such as automotive and electrical. However, production of these advanced steel grades requires much tighter control of the overall production process, which is impacted by numerous parameters across the mill.
The MPV (Mechanical Properties Variability) application utilizes artificial intelligence and machine learning to create a unique 'sense, predict, and recommend' framework that addresses challenges associated with the variability of mechanical properties in steel production. Mechanical properties include things such as yield strength, tensile strength, and elongation. The application senses patterns within mill data to fully understand the drivers of mechanical property variability. It then predicts when increased variability will occur and recommends the optimal input parameters, or PDI settings, required to optimize target mechanical properties such as yield strength, tensile strength, and elongation. As a result, the MPV application can help steel manufacturers achieve cost savings 3 ways: by reducing mechanical properties variability, reducing alloy costs due to better variability control, and minimizing out-of-spec production, which are sold as secondary grades or scrapped. One steel manufacturer using MPV is anticipating savings $2M per year.
“Our ability to deploy AI to produce steel with tighter tolerances allows us to address the requirements of high margin segments such as automotive and electrical, which immediately impacts our top line revenues in addition to the obvious cost savings,” said Denis Hennessy, Director of Product Development at Big River Steel, after implementing the MPV application.
In addition to addressing these challenges in mechanical properties variability, the AI and machine learning solutions that Noodle.ai and SMS digital have co-developed will also help steel manufacturers optimize product quality, asset availability and production efficiency. Together, Noodle.ai and SMS digital combine manufacturing equipment expertise, process modeling experience, and cutting-edge data science to accelerate time to value, enabling customers to quickly realize bottom-line impact.
“This partnership with SMS digital was created to make efficiency improvements that not only help steel manufacturers’ bottom line, but to rid the world of unnecessary industrial waste that often plagues this industry,” said Stephen Pratt, Founder and CEO, Noodle.ai. “We are encouraged by the results we’ve already seen with this application developed in partnership with SMS digital, and anticipate being able to assist an even larger list of steel manufacturers as we enter 2020 with MPV and the other applications we develop together.”
About Noodle.ai
Noodle.ai applies advanced data science to industries at the core of the global economy to create a world without waste. With Noodle.ai’s advanced Enterprise AI® applications, business leaders are empowered to make better decisions, reduce wasted energy, money, and resources, and ensure their businesses are built to last. Noodle.ai focuses on radical efficiency for supply chain and manufacturing using leading-edge artificial intelligence.
About SMS digital comprising SMS group Inc. Digital Solutions and SMS digital GmbH
SMS digital GmbH, the digital subsidiary of SMS group GmbH, and SMS group Inc. Digital Solutions collectively are a market leading supplier of digitalization for plant and equipment used in steel and NF-metals production and processing. SMS group GmbH generates worldwide sales totaling EUR 3.3 billion with more than 14,000 employees.
In close collaboration with its customers, SMS digital identifies and develops innovative products for the metals industry building on most advanced development techniques, in-depth metallurgical process knowhow and technological expert knowledge. SMS digital helps its customers make their plants and machines ready for the digital age by means of digital applications and the use of AI.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200116005174/en/
Contact information
Leslie Poston, Noodle.ai
leslie.poston@noodle.ai
Thilo Sagermann, SMS group
thilo.sagermann@sms-group.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Ingenic Semiconductor Integrates Allegro DVT Encoding IP into Next-Generation Smart-Video System-On-Chip Solutions3.7.2020 13:46:00 EEST | Press release
Allegro DVT, the leading provider of video semiconductor IP solutions, today announced that Ingenic Semiconductor, one of the leading system-on-chip companies in China has integrated the AL-E150 high-performance video encoding IP into its latest generation of Smart Video products. The Smart Video product family from Ingenic Semiconductor features highly integrated Video Processor system-on-chip (SoC) solutions targeted at various video applications such as consumer and professional video surveillance and battery-operated cameras. One of Ingenic latest video processors, includes Allegro DVT’s AL-E150 H.264/HEVC/JPEG encoder to handle compression of multiple video channels at resolutions up to 5Mpixels. This chip is now shipping in mass-volume. Brad Liu, VP of Smart Video BU, Ingenic commented, “With the AL-E150, Allegro DVT is able to offer a multi-format and feature-rich encoder IP which perfectly meets our requirements and represents the best trade-off between silicon area, high-video
Imaweb-IDF Group Completes Its Acquisition of Serinfer3.7.2020 12:16:00 EEST | Press release
Imaweb/IDF Group (“The Group”), one of the largest developers of customer relationship management (“CRM”) solutions and dealership management systems (“DMS”) for the automotive industry in Europe, announced today that it has completed the acquisition of Serinfer Servicios Informáticos S.L. (“Serinfer”), the computer software segment of the Alvariño Group, a Spanish developer, distributor and supplier of DMS for automobile dealers. The Group is backed by Providence Strategic Growth (“PSG”), the growth equity affiliate of premier asset management firm Providence Equity Partners (“Providence”). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200703005051/en/ Serinfer develops a range of sophisticated products to address the evolving needs of automobile dealers. Its flagship offering is SERAUTO, a complete DMS solution that works modularly and can also be integrated to the existing technology of any dealership or workshop. SERAUT
Taiwan’s COVID-19 response win applause, friendship from around the world3.7.2020 11:52:00 EEST | Press release
Once considered the most vulnerable to the COVID-19 outbreak because it’s so close to China, Taiwan has turned out to be a model for the world’s fight against the pandemic, thanks to quick decisions and early measures by its government, and to the high standard of the island nation’s public health system and its people. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200703005042/en/ The management of Grand Hotel in Taipei asks its guests to help form Zero on the building’s facade to celebrate no new COVID-19 cases for the sixth day in a row on May 1, 2020. (Hsu Chao-chang, CNA) According to real-time data released on Worldometer (https://www.worldometers.info/coronavirus/), a website tracking global COVID-19 figures, as of June 30, Taiwan, with only 447 cases, ranked 155th among 215 countries in terms of the number of infections. Only three entities with fewer cases have a larger population than Taiwan’s, which currently sta
Northern Data announces new Block.one backed customer3.7.2020 09:27:00 EEST | Press release
Northern Data AG (XETRA: NB2, ISIN: DE000A0SMU87), one of the world's largest providers of high-performance computing (HPC) solutions, continues to enjoy a very successful 2020 with the signing of 180 MW of capacity with a new customer. Northern Data's most recent customer is a Bitcoin mining operation backed by Blockchain Powerhouse Block.one with an initial 180 MW volume and an upsize option to 300 MW, which the company signed today and which shall go live in early 2021. Brendan Blumer, CEO of Block.one, says: "Block.one's focus on leveraging EOSIO to bring increased scalability and transparency to the greater blockchain industry led us to Northern Data and their strategic market positioning and strong leadership. We're excited to be collaborating with them to introduce unprecedented Bitcoin mining solutions, powered by EOSIO." Aroosh Thillainathan, CEO of Northern Data AG adds, "We are pleased that Block.one is convinced of our services and that we have won the company as another bl
ViiV Healthcare Announces US FDA Approval for Rukobia (fostemsavir), a First-in-Class Treatment for HIV in Adults With Few Treatment Options Available2.7.2020 23:39:00 EEST | Press release
ViiV Healthcare, the global specialist HIV company majority owned by GSK, with Pfizer Inc. and Shionogi Limited as shareholders, today announced that the US Food and Drug Administration (FDA) has approved Rukobia (fostemsavir), 600 mg extended-release tablets. Rukobia is a novel attachment inhibitor for the treatment of HIV-1 infection indicated for use in combination with other antiretroviral (ARV) therapies in heavily treatment-experienced (HTE) adults with multidrug-resistant HIV-1 infection, who are failing their current ARV regimen due to resistance, intolerance or safety considerations. Significant advances over the past few decades have dramatically improved HIV treatment and for many, HIV is considered a manageable life-long condition. However, HTE adults – which account for approximately 6% of adults living with HIV who are on treatment – have little to no options left due to resistance, tolerability or safety considerations.1 HTE adults are at risk of progressing to AIDS and
Vertex Files Registration Statement for Proposed Initial Public Offering2.7.2020 23:31:00 EEST | Press release
Vertex, Inc., a leading provider of tax technology and services, today announced that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) relating to a proposed initial public offering of its common stock. The number of shares to be offered and the price range for the proposed offering have not yet been determined. Vertex intends to list its common stock on the NASDAQ Global Market under the ticker symbol “VERX.” Goldman Sachs & Co. LLC and Morgan Stanley are acting as joint lead book-running managers and as representatives of the underwriters for the proposed offering. BofA Securities, Citigroup and Jefferies are also acting as book-running managers and JMP Securities, Stifel, William Blair and CastleOak Securities, L.P. are acting as co-managers for the proposed offering. The proposed offering will be made only by means of a prospectus. When available, copies of the preliminary prospectus relating to these securities may be obtaine
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom