August 02, 2022 | 15:00 EDT | • Press releases
AMSTERDAM – DataProphet, a world-leading AI-as-a-Service (AIaaS) for manufacturing innovator has been listed in the CBInsights Advanced Manufacturing top 50. The globally expanding AIaaS provider joins 49 other trailblazers in 4IR (Fourth Industrial Revolution) applications. This 4IR ecosystem includes factory analytics & artificial intelligence (AI) to the Industrial Internet of Things (IIoT) cybersecurity.
CBInsights have recognized the awarded tech companies as “the top private advanced manufacturing companies working to promote faster, safer, more efficient, and more sustainable R&D and production.”
According to CB Insights:
“Some of this year’s winners aim to provide robotic systems to help manufacturers increase productivity and reduce labor costs. Others are developing advanced analytics that will allow manufacturers to maximize the efficiency and quality of their processes, systems, equipment, and more.”
The CB Insights research team picked the 50 private market vendors from a pool of over 6K companies. Through an evidence-based approach, it selected the top 50 based on a number of interdependent factors. These included patent activity, investor quality, news sentiment analysis, proprietary Mosaic scores, market potential, partnerships, competitive landscape, team strength, and tech novelty. The Mosaic Score, based on CB Insights’ algorithm, measures the overall health and growth potential of private companies to help predict a company’s momentum.
“South Africa-based DataProphet utilizes AI to collect data from across factory floor sources, like production equipment and Internet of Things (IoT) sensors, in order to find process efficiencies”, stated CB Insights.
The Factory Analytics & AI winners circle comprises DataProphet, Canvass, Augmentir, MachineMetrics, MakinaRocks, Cognite, Seeq, and Tulip.
CEO Frans Cronje co-founded DataProphet in 2014, inspired by the significant, measurable value that deep learning applied as prescriptive AI could bring to local manufacturers as an industry consultant. He saw that rather than merely predicting defects, technology, if modeled correctly, could leverage data factories already own to prevent the defect from occurring in the first place. Since then, Cronje’s purpose has been to establish this innovative, results-driven company as the leading global provider of AIaaS for manufacturing. In response to receiving this award, Frans Cronje had the following to say:
“The DataProphet team is doubly honored to be recognized for a second time by CB Insights. It strengthens our conviction in the value we are helping manufacturers to achieve along the digital maturity adoption curve—via a solid foundation for data-driven solutions towards autonomous manufacturing. We take inclusion in the CBInsights Advanced Manufacturing top 50 as further validation that DataProphet is moving in the right direction and has even more to contribute in the smart manufacturing space.”
CB Insights helps the world’s leading companies accelerate their digital strategy and transformation efforts with data, not opinion. Its Emerging Tech Insights Platform provides companies with actionable insights and tools to discover and manage their response to emerging technology and startups.
DataProphet is a venture-backed, high-growth AI-as-a-Service (AIaaS) for manufacturing company. Its proven AI-driven solutions for 4IR data orchestration and data-driven advanced manufacturing optimization meet industrials from diverse verticals—wherever they sit on the digital adoption curve. The company’s AIaaS guides OEMs, Tier 1 suppliers, and Machine Builders to evolve their standard operating procedures towards increasingly autonomous, digitally connected, high yield, and energy-efficient production. DataProphet PRESCRIBE, its flagship Expert Execution System (EES) harnesses deep learning applied as prescriptive analytics. For DataProphet, digital transformation means capturing real-world value and is guided by the importance of rapid results. Deployed and managed by 50+ data scientists and solution engineers to target agreed-on KPI challenges, PRESCRIBE has helped customers around the world (in automotive, rubber, minerals, and semiconductors, to name a few) experience a significant and practical impact on the factory floor. With collaborative value tracking and measurement, manufacturer clients enjoy ROI in under a year, reducing the cost of non-quality by an average of 40 percent.
DataProphet is recognized as both a Technology Pioneer and Global Innovator by the World Economic Forum (WEF) and has won multiple industry awards. It was previously deemed by CB Insights to be amongst the hundred most promising private AI companies in the world, while Frost & Sullivan honored it with their European Prescriptive for Autonomous Manufacturing Technology Innovation Leadership Award. Other industry recognition includes Alconics’ bestowal of their Award for Innovation in Deep Learning, the 2022 Globee® Awards Grand Trophy, and Gold Globee®, for achievements as a Disruptor Company in the manufacturing space, and the Outstanding Innovation category winner at the 2022 Global Business Excellence Awards. DataProphet’s mission is to safely guide the machines making the world to next-generation production for a more sustainable and connected future—with world-leading machine learning expertise for Manufacturing Excellence 4.0.