And it\u2019s precisely on the factory floor where Swiss startup EthonAI is looking to gain a foothold in this emerging market.\u00a0<\/span><\/p>\n \u201cManufacturing is at a critical juncture, and companies that fail to adapt with AI risk falling behind,\u201d said CEO Julian Senoner, who co-founded EthonAI after completing his PhD in AI systems at ETH Zurich.\u00a0\u00a0\u00a0\u00a0<\/span><\/p>\n The budding company uses AI to spot problems in production lines. The idea is to help factories reduce the number of defective products that end up being thrown away.<\/span><\/p>\n EthonAI does this using a so-called Manufacturing Analytics System (MAS). The programme uses AI algorithms to sieve through huge data sets collected by sensors placed at several points along the production line.\u00a0<\/span><\/p>\n TNW Conference, June 20-21 – 70% tickets SOLD OUT<\/p>\n Cease all the networking opportunities: roundtables, masterclasses, tech tours, 1:1s… Last chance to book before we run out!<\/p>\n<\/div>\n<\/div>\n The system then displays the most important bits of data on a dashboard, in a format that is easy for factory managers to peruse.<\/span><\/p>\n The university spin-out<\/span> has today secured $16mn to scale up its tech. The funding round was led by\u00a0 European VC Index Ventures which has previously backed the likes of Meta, Slack, and Dropbox. <\/span>\u00a0\u00a0<\/span><\/p>\n EhtonAI already counts a number of major manufacturers among its customers, including German energy giant Siemens and drugmaker Roche.\u00a0<\/span><\/p>\n The startup\u2019s software is even running at three factories belonging to one of the world\u2019s most beloved chocolate brands: Lindt & Spruengli. For instance, <\/span>AI helps production managers fine-tune machine temperatures or product moulds to avoid dips in quality before they occur. <\/span>\u00a0<\/span><\/p>\n Modern factories are covered in sensors that measure everything from the temperature of a boiler to the vibration of a motor. \u201cBut data is only valuable if you can digest it, make sense of it, and use it to drive decisions,\u201d said Katharina Wilhelm, partner at Index Ventures.<\/span>\n <\/div>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n If you want to read more like this article, you can visit our Technology category.<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n\n
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