More IoT, More Automation, and More AI in 2019 to Accelerate Industry 4.0 Says Chip Industry Leader, W.K. Choi, CEO, BIS Tel

Completing the journey to smart manufacturing will mean integrating human knowledge with more powerful computing, more automated production processes and smarter data analytics tools capable of processing and analyzing massive amounts of factory data in near real -time. “This is necessary to create the intelligence needed for engineers and operators to make smarter decisions that increase operational efficiencies, improve yield, engineering productivity and substantially drive business performance,” says W.K. Choi, CEO, BISTel, speaking at the opening of the company’s annual China Smart Manufacturing User Forum. BISTel is the market leading supplier of equipment engineering systems (EES), IoT edge computing solutions and AI enabled smart engineering applications for semiconductor, electronics and industrial manufacturing.

BISTel’s product roadmap integrates EES, AI and IoT Edge solutions with industry leading Cloud IoT platforms to deliver the Industry 4.0

Choi sees Industry 4.0 as a three- part journey where the first two parts, IoT devices and engineering systems, are integrated with intelligence to detect, analyze and predict outcomes to everyday manufacturing challenges. The third part is integrating that intelligence in the enterprise to create a fully connected smart factory ecosystem in which IoT devices, equipment, engineering and enterprise level systems are completely interconnected allowing for large data flow to be shared, managed and optimized across the entire ecosystem.

Read More: Gartner Survey Shows 37 Percent of Service Leaders Are Piloting or Using AI Bots and Virtual Customer Assistants

2019 will see an acceleration in the number of IoT sensors, big data and AI applications. 2019 will also see more Cloud, IoT enabled platforms introduced to the market. “These will fast become a driving force, integrating new AI smart applications that analyze large data more effectively than ever,” commented Choi. Market research support this notion. In 2018 there were more than 6 billion IoT devices in the field. Numbers are anticipated to grow to more than 20 billion by 2022 claims a Gartner Group report.

IoT, AI, Edge, Cloud Dominate New BISTel Industry 4.0 Roadmap

To reinforce its leadership in the space, BISTel has invested in a broad range of new AI smart manufacturing applications, including a health monitoring, preventive maintenance and predictive analytics solutions, as well as trace data analytics for best in class root cause analysis. Later this year BISTel will launch its first IoT Edge computing solutions that enable larger amounts of manufacturing data to be processed near the source of data creation while at the same time reducing the load on network resources. Greatly reducing costs, this capability also means that A.I. applications such as fault detection and classification, and predictive data analytics can also be used effectively in remote locations. The company is also developing a new asset performance management (APM) solution that exemplifies the vision of industry 4.0 by connecting the entire manufacturing ecosystem.

Read More: Meet the iTrade Blockchain, the Food Supply Chain’s No-Nonsense, Homegrown Blockchain

IoT Spending to Grow to $1.2 trillion by 2022

BISTel is poised to seize these growth opportunities by leveraging its 20 years of domain expertise in manufacturing. For example, technology spending on IoT is expected to reach $1.2 trillion by 2022, with a CAGR of 13.6% from 2017-2022 forecasted by leading market research firm IDC. Thanks to IoT, large amounts of data are now available to the factory some even approaching petabyte ranges. To achieve the vison of industry 4.0, methods through which manufacturers process, and analyze this data will be pivotal to unlocking the benefits customers seek.

BISTel Positioned for Growth

“BISTel’s product roadmap integrates innovative EES, AI and IoT Edge solutions with industry leading Cloud IoT platforms to deliver this value to our customers,” added Choi. Cloud IoT, Edge technologies with AI applications deliver better computing, increased automation and more powerful data analysis tools able to prevent unscheduled downtime, improve equipment utilization, speed time to market, improve product quality, and optimize supply chain management to deliver unparalleled return on investment (ROI).

“The combination of IoT and AI is changing the way we manage data, disseminate information and make real-time decisions in the factory, especially as IoT becomes a bigger part of product development,” stated Choi. BISTel core business and new growth roadmap helps to complete the digital transformation of the manufacturing sector. “By deploying more intelligence into production, and along networks in the value chain we will better integrate and connect engineers, operators, processes and data to create intelligence for better, quicker and more profitable decision making,” declares Choi.

Read More: Newest Veritone aiWARE Enhancements Enable Customers to Expand and Accelerate Their Adoption of AI