Sudbury-based mining technology company Symboticware has acquired Palifer, the developer of a deep-learning Natural Language Processing (NLP) AI software that generates data from work orders created in natural language.
Palifer’s AI will enable Symboticware’s customers, which include Glencore, Vale, and Newmont, to reduce unscheduled downtime, prevent unsafe incidents caused by equipment failure and optimize maintenance.
Palifer is a Silicon Valley-based technology startup backed by accelerator Y-Combinator, which has been used to launch iconic brands like Airbnb, DoorDash, Coinbase, Instacart and Dropbox.
Its patented AI algorithm extracts meaning from unstructured work orders and repair history files generated by technicians, repair mechanics and operators. Work orders often contain inconsistent, misspelled and unorganized information that is impossible to process without significant manual work.
By using Palifer’s algorithm, the company said, managers can focus on individual equipment units and components that fail more often or at a higher cost.
The software is integrated with Symboticware’s telemetry platform 4-Sight.ai and will also be used as the technological core for a standalone AI platform under development.
“Adoption of AI by industrial companies has traditionally been very difficult. This new technology changes the game. Palifer’s AI is plug-n-play, can be online in hours and does not require hardware,” Symboticware CEO Ash Agarwal said in a media statement.
“The product immediately creates value by preventing unscheduled downtime that can cost up to $130,000 per hour. The software is already built, tested at live operations and is ready to be deployed.”
