A subsidiary of Sheffield software specialist IntelliAM has been awarded £263,000 from the Digital Innovation Fund for a research project.
IntelliAM AI plc, a software company harnessing the power of AI and machine learning in manufacturing, has announced that IntelliAM AI has been selected for the Lighthouse for AI and has been awarded a Lighthouse Funding Award for a research project to be completed during the company's current financial year. The grant is for research into the application of AI in lubrication analysis and is delivered by The Smart Manufacturing Data Hub, which is funded by Innovate UK.
Lubrication is one of the main contributors to manufacturing downtime, and IntelliAM AI has access to over 180 manufacturing sites across the UK and lubrication analysis results for thousands of components going back over the last 10 years.
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The research project will use this data, and new data collected during the project, to create a model to advise manufacturers and small and medium-sized enterprises on best practices for part lubrication.
The company said: “The project will help reduce downtime for the manufacturer's equipment and create resilience against the degradation of engineering skills currently present in the UK. Oil will only be changed when necessary, improving sustainability. The project will impact the company in three ways: increased internal productivity, access to new machine learning for SMEs, and a commercial product that will boost sales.”
News of the funding comes just days after the company began trading on the Aquis Stock Exchange Growth Market, raising £5.08 million. The company was founded to use AI models to improve operational efficiency for its clients, and its vision is to harness the power of artificial intelligence through machine learning to revolutionize asset management in the manufacturing industry.
As part of its expansion into AQSE, it has completed the acquisition of Sheffield engineering group 53 North.
