New “Pay as you Deploy” Subscription Provides a Cost-Effective and Scalable Path to Operational AI

Scalability and lower total cost of ownership (TCO) are two critical metrics by which company executives evaluate deployment success of AI initiatives. However, many solutions today fall far short on that criteria. The main reason for this is because most vendor solutions come with pretty hefty price tags and require specialized in-house expertise (in-house data scientists) to even start the process. This has created two obstacles for industry adoption:

• Departmental budget constraints and lack of teams who can be reassigned to work with the vendors. While individual team members can be assigned, the vendor-provided offerings need to be cost effective to scale down to that level.
• Concern over the time required to realize value and deliver ROI on their purchase. Projects with high upfront costs, but deployment occurring later in the timeline, are harder to build a compelling business case around.

These two scenarios are real world AI dilemas. Fortunately, they are now solved with a new and innovative “Pay as you Deploy” subscription model. By making Operational AI adoption and deployment easy and scalable, customers now have an extremely cost-effective and risk mitigated path to start realizing significant ROI through predictive operations.

To better understand how this new approach works, let’s take a look at Falkonry’s latest product offerings: Falkonry Workbench and Falkonry Analyzer. With a simple user subscription, Falkonry Workbench enables customers to rapidly analyze large amounts of data and cost effectively build predictive models that solve production problems. Falkonry Analyzer features a unique “pay as you deploy” subscription that lets customers economically scale the deployment of these models either on-premises, at the edge or in the cloud.

This economical “pay as you deploy” subscription provides a cost-effective and scalable path for small organizations to leverage the power of Operational AI for analyzing large amounts of operational data and rapidly building predictive models that significantly improve production uptime, quality and yield in their manufacturing and process operations.  Likewise, this provides larger organizations the flexibility to rapidly scale their digital transformation initiatives with lower TCO and shorter time to value.

Who Benefits?

Operational AI can benefit any global 2000 industrial company. A look at the state of the industry shows that over the last two years, $1 trillion in production has been lost from unoptimized manufacturing and process operations. Of that, nearly $400 billion was downtime that could have been predicted and another $250 billion were production quality issues and scrap that could have been avoided. Clearly, the time is now to implement Operational AI and it’s never been easier to deploy than it is today with such flexible deployment options.

For Falkonry, we have seen significant adoption of Operational AI in the oil & gas, manufacturing, metal production and mining operation markets, as well as defense & intelligence. These include new and expanding customers in North America, South America, Europe and Asia. We are proud to say that customers using our Operational AI products have built tens of thousands of models, including one who has deployed models into production at a rate of one per week.

Siemens is pioneering the use of Operational AI in their manufacturing site and Dr. Jochen Bönig, Head of Strategic Digitalization at Siemens, said, “Falkonry’s Operational AI software enables our manufacturing engineers to build predictive models themselves, which is critical to deploy these solutions at scale. Our engineers were very quickly able to predict critical failures with a high degree of accuracy two to three months in advance.”

Our product list is growing and so is the number of our successful customers. To view Falkonry use cases across multiple industries, click here. And to learn more about our Operational AI products, click here.