Edge Intelligence for All. Delivering Artificial Intelligence at the very edge of your equipment
The new Equipment as a Service tsunami: delivering innovative prognostic maintenance, parametric insurance policies and fintech opex payments for your next generation machine tools via the MYW.AI EaaS platform.
Since the advent of mass manufacturing, Henry Ford believed that “servitization” of manufactured goods to be hired or rented upon subscription models would have been the best option to sustain manufacturing towards continuous customization and reuse. Today Oliver
Bendig, Deloitte Partner and EMEA Machinery Sector Lead reports: “We have been talking about subscription models ever since Rolls-Royce pioneered it’s power by the hour concept in 1962, but we didn’t have the technology to scale XaaS models until now. But in the next decade we will eventually see “Netflix for Industry 4.0” take off – complementing the traditional sell, lease and rent models.”
With the advent of low cost sensoring and connectivity options and the uprise of circular economy models, conceiving innovative equipment as a service (EaaS) business models to deliver a continuum of services from machine tools delivery to their circular displacement has become not only possible, but crucial to get the tools manufacturing industry at the door front of companies smaller in size, yet underpinning hugely wider markets.
And the pandemics have accelerated the trend. Planning new generation post-pandemics Equipment services to be delivered to the end user via connected tools respecting social distancing and remote monitoring is forecasted to be a highly growing model that allows companies to lease machine tools and tap into a cloud- based marketplace for technical and non-technical (e.g. fintech, insurtech, regtech,..) services.
Aside respecting strict pandemics regulations when dealing with machinery distribution and maintainance, EaaS will make it easier for small- and medium-sized enterprises to start enjoying the ease of use of advanced machinery in their production workspace, eventually paying a subscription for the outcome they produce rather than for buying the equipment upfront whilst insuring it against breakdown and/or maintenance needs by means of innovative, insurtech empowered, parametric policies and fintech enabled opex payments models.
As a result the Global Equipment as a Service Market is expected to witness a strong market growth at a rate of 11.5% in the forecast period 2021-2027 (Source Astute Analytica) with specific markets being the front movers, especially those where AI boosted prognostic maintenance algorithms may be added when planning new machinery design, making tools smart and attractive in a very competing markets such as those of Robotics and
Machine tooling in general. For example the very precise indication on next “time to failure” today possible with chip based prognostic maintenance algorithms working at the very edge is crucial for making product stand out in the global Rotating Equipment Market projected to reach $90.1 billion by 2026 and estimated to grow at a CAGR 3.61% during the forecast period 2021-2026 with a dedicated Equipment Service market size estimated to reach $26.2 billion by 2026 growing at around a CAGR 4.2% in the same period (source Industry ARC) .
Today, where 56% of CEOs across all manufacturing sectors are predicting that a large existing player from another industry will move into their industry with new business and service models (PWC, 2019), it is important that the executives managing tool manufacturing ventures keep ahead, accelerating their forces not only towards the digital transformation requested by Industry 4 but also into the new servitization tsunami about to hit their marketplaces once that the new Machine to Machine communication capabilities of 5G will come into place. If they don’t react, they will start seeing innovative companies entering their space eyeing a future where the competition is no longer selling a (competing) manufactured machine but also new, personalized and ‘on demand’ services throughout the product life span.
MYW.AI is a new European startup (www.myw.ai) with headquarters in the wonderful Silence Bay of Sestri Levante (between Cinque Terre and Portofino in the North West Italian Riviera, near France) which during 2020 and 2021, when the pandemics was hitting hard global supply chains and industrial set ups, designed, patented and developed Europe’s first fully native EaaS solution to help tool builders add maintenance services to their distributed machines connected to the Internet by means of IoT sensors and digital cameras empowering time series fault analysis and visual inspection from remote service centers, over the Internet.
“Suddenly, during the Covid pandemics, the world realized that in the age of Internet of (every) Things it makes no sense to send maintainers every time your equipment breaks down, to ship spare parts once your machinery is halted or to ask customers to continue to pay systems when they are low in production” claims Fabrizio Cardinali, MYWAI founder and Co-CEO “Rather it makes much more sense to connect your machinery, being it either an industry 4 machine tool, a medical equipment or an energy appliance, directly to the Internet of Everything, making it secure and smart ‘by design’ able to deploy AI algos the very edge, on deck, using chip based Artificial Intelligence and blockchain certified data streams”. “With such vision”, continues Cardinali, “we have designed and patented the MYW.AI platform in the worst period for Industry over the last 100 years, to help machine tooling vendors and users across the world embrace smart machines and servitization for the next 10 years and beyond”.
The MYW.AI platform version 1.0 was released during the EMO 2021 exhibit in Milan, the World leading Metallurgy Tool Machinery event managed every year by CECIMO, the EU tool vendors association. The MYWAI
Platform blends Cloud, Edge computing and blockchain environments to let tool machinery builders, users and integrators deliver Artificial Intelligence algos wherever needed, whenever needed, from the cloud to the edge of plants, to the very edge of machine tools for anybody willing to enter the new “smart” machines markets and opportunities.
In particular, the MYWAITM platform presented at EMO 2021 demonstrated 4 modules namely:
1.The MYWAITM Cloud Manager that lets you design and deliver edge intelligence to any equipment, machine and sensor by plant, site and factory together with notification procedures, alarms and events interworking with existing systems by means of a custom MYWAI Architectural Gateway for Interoperability and Cybersecurity (MAGICTM) interfacing MYWAI with de facto Industry 4 standards
such as OPC United Architecture, MQTT and ISA 95.
2.The MYWAITM MLOPS modeler that lets you define, train and deploy any Machine Learning algorithm from Cloud to remote CPU, FPGA and/or ASIC empowered edge computers.
3.The MYWAITM Edge Analyzer that lets you monitor multivariate data streams and imagery on Chips and Modules, delivering low cost and low consumption artificial intelligence at the very edge of equipment and machinery.
4.The MYWAITM DLT Certifier that uses a combo setup made of a new generation blockchain topology (IOTATM) and distributed file System (IPFSTM) to store and certify equipment and production anomalies for innovative Legaltech, Warrantech & Insurtech services.
To date the MYW.AI platform has been successfully used in first market and research demonstrators amongst which:
•the MYWAI 4 ROBOTICS and RAISE (Robots as an AI Services Ecosystem) demonstrators which have indirectly received funding by the EU H2020 RD Program (Grant nr 825196) via an Open Call issued by the Trinity Robotics work program awarded to MYWAI to detect and monitor Robotic joint arms calibration anomalies linked to parametric insurtech policies in Industry 4 set ups
•the MYWAI 4 SURGERY and PROMENAIDE ( Prognostic Medical Equipment maintenance services enabled by AI on DLT on EDGE ) projects which have received funding from Italian Public Authorities (e.g. Regione Lombardia
and Regione Liguria respectively) during the first Covid pandemics outburst for managing Medical and Surgery Room Equipment regulation, uptime monitoring and maintenance from remote.
•The SATISFACTION Project (Satellite Augmented Cargo Tracking & Insurance Services for Food Supply in Action) which has received funding from ESA (European Space Agency) for studying the remote monitoring and tracking of Reefer Containers for the correct shipment
and delivery of edible goods in world supply chains using satellite augmented fintech and insurtech services.
For more info on MYWAI platform and projects visit
www.myw.ai
