SUDBURY — June 16, 2022: 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 to reduce unscheduled downtime, prevent unsafe incidents caused by equipment failure, and optimize maintenance.
Palifer is a Silicon Valley-based technology startup backed by world-leading accelerator Y-Combinator. 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, managers can focus on individual equipment units and components that fail more often or at a higher cost.
Palifer’s software has been validated by various industrial customers, most notably by Deutsche Bahn, the world’s second-largest transportation company, and by a leading Canadian mining company.
The software is fully 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. Palifer’s cofounders, Emerson and Morris Hsieh, provided full support to prepare Symboticware for the AI implementation and will concentrate on other projects after the exit.
“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,” says Symboticware CEO Ash Agarwal. “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.”
“Symboticware customers will now be able to leverage the multi-year service records to reduce unscheduled downtime and get data from work orders that historically have been perceived as not very useful,” commented Palifer’s cofounder, Emerson Hsieh.
"We are fully confident in the bright future of our AI technology which is now part of Symboticware’s product lineup," added Palifer’s cofounder, Morris Hsieh.
About Symboticware: Symboticware is the nerve centre of mining intelligence. We’re going to disrupt the $50B Asset Performance Management market for mobile equipment across resources industries. Our product 4-Sight.ai is an end-to-end System of Intelligence that provides AI-driven actionable insights to empower our customers to make smart, informed, and on-time decisions. Driven by a passionate team of innovators and builders, Symboticware. Stay connected. Stay informed. Take action.
