Mitsubishi Invests in ThinkIQ for Manufacturing
Summary
Terms of the investment were not disclosed.Mitsubishi is partnering with ThinkIQ to accelerate digital transformation with smart manufacturing solutions for the industrial supply chains in its ecosystem. ThinkIQ has built its open platform working closely with U.S. and European government smart manufacturing and Industry 4.0 initiatives and global standards bodies.Our platform addresses a growing market need to operate and manage complex manufacturing supply chains more efficiently, says Doug Lawson, CEO of ThinkIQ. With our strategic relationship and Mitsubishis investment, we will expand our market reach and accelerate our efforts to provide end-to-end supply chain visibility.We expect ThinkIQs solutions to have a major impact on manufacturers to help improve yield, quality, safety, and compliance while dramatically reducing waste and environmental impact, says Yoshiyuki Watanabe, Division COO of Mitsubishi Corporation. The software-as-a-service platform securely connects to the physical world of legacy and smart equipment, IoT sensors, OT and IT systems to bring all relevant data into a single analytics platform that brings context, meaning and discoverability for all participants in supply chain and manufacturing operations, according to ThinkIQ. ThinkIQ Vision brings vision-processing software combined with prepackaged machine learning and artificial intelligence capabilities to turn standard cameras on the shop floor into sensors that eliminate blind spots across equipment, materials, and people.Sources: Press materials received from the company and additional information gleaned from the companys website.