Profet AI launches lifecycle management platform for AI governance
Taipei -Profet AI, an enterprise AI application provider for the manufacturing industry, has announced the official launch of AILM (AI LifecycleManagement Platform), the world’s first enterprise platform for AI governance.
AILM enables manufacturers to control, manage, and propagate their core domain know-how, both internally within the company and externally to facilitate expansion to other countries orlocations.
AILM aids enterprises in the early stages of the AI lifecycle by standardising the process of identifying and selecting the most suitable problems for applying AI to. It also improves the transparency of the implementation process which aids effective cross-organisational collaboration.
After completing a project, it facilitates the dissemination of these AI paradigms throughoutthe organisation.AILM is the world’s first platform of its kind and positions Profet AI, as well as Taiwan, to establish the rules and standards for governing AI applications in manufacturing.
The Need for AI Governance in Manufacturing
Manufacturing leaders universally recognise the pressing need for AI adoption. However,according to the “Manufacturing Leadership Council’s 2023 Industrial AI in 2030 survey1,”only around 29% of companies have integrated their AI initiatives into formal plans orstrategies, despite 96% of manufacturers planning to increase investments in AI.
Drawing from their experience of working with more than 160 manufacturing clients, Profet AIhas identified four common challenges that enterprises face when adopting AI:1.There is no standardised way of choosing the right problems to apply AI to.2.There is a lack of transparency in the way AI is implemented throughout
It is difficult to effectively disseminate AI knowledge throughout an entire company. Although many customers already utilise AI, often departments use different methods, and this experience and knowledge are not shared.
There is a lack of incentivised reward systems that encourage employees to take the initiative in learning and sharing AI implementation experiences.The motivation behind developing AILM was to assist partners in overcoming these challenges, through leveraging AI to achieve ‘judgement standardisation’.
“We anticipate that AI management will have a transformative impact on the manufacturingsector, similar to what generative AI has already had on global business,” said Jerry Huang,Co-founder and CEO of Profet AI.
“AI governance will become an essential capability for enterprises to maintain a competitive advantage by extracting valuable insights from vast amounts of data and patterns.”
How AILM Ensures Effective Enterprise AI Governance AILM offers the following functionality to meet the decision-making requirements of the AI lifecycle governance process.:
●Case Library: AILM provides an AI industry case library and AI standardisation management tools, including flexible and configurable templates, to help users andmanagers establish a company-wide AI mindset.
●Real-Time Tracking:AILM optimises analysis by providing real-time tracking,allowing teams to quickly process data, clearly identify problems, and boost project success rates and ROI.
●Real-Time Analysis: AILM’s real-time analysis tools improve progress tracking,which helps maintain quality, and enables teams to effectively address AI challenges.
●Enterprise Knowledge Base:AILM helps enterprises foster a culture of AI usage by accumulating knowledge and experience, which can easily be shared across departments and regions.
●No-Code AI Application Development:AILM, when used in conjunction with Profet AI’s No-code Auto ML platform, enables enterprises to quickly develop and deploy AI applications aligned with their strategic objectives, and seamlessly integrates AI tools into daily workflows.
The next step in the AILM product roadmap for the rest of the year is the integration with Generative AI. This integration will significantly enhance the usage efficiency and experience of AI governance tools.
Forster Lin, Co-founder and Chief Product Officer of Profet AI said: “AILM was built on the foundation of the collective experiences gained from working with hundreds of global manufacturing clients. We will continue to listen to our customers and integrate their needs and expectations into the AILM product development roadmap.
“Profet AI announced the completion of a Series A funding round in January 2023, raising a total of $5.6 million. Additionally, the company has expanded into the markets of Vietnam,Japan, Malaysia, Singapore and Thailand. This year, Profet AI also celebrated the launch of Profet AI Suzhou, a joint venture with industrial firm Aedgetech, in China.
About Profet AI
Profet AI is a manufacturing artificial intelligence software company that provides an end-to-end no-code AutoML platform and on-demand AI application knowledge base to enableindustry sectors or IT professionals to quickly build high-quality predictive m
