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Subject: PLW

Canvass AI Awarded Patent to Empower Faster Decision Making in Complex Industrial Processes

Continued investment in R&D bolsters Canvass AI's leadership in the industrial manufacturing sector

DENVER and TORONTO, Oct. 19, 2022 /CNW/ - Canvass AI, a leader in industrial AI software, today announced that it has been awarded another patent, US16/555,098 for process speed-based forecasting, from the United States Patent Office.

Continuous manufacturing processes are dynamic by nature, and when looking for insights from continuous data, simplifying the steady state of operations almost always leads to less understanding of the process underpinnings.  To support faster and more effective decision making in complex industrial environments, Canvass AI has now developed a patented approach to consider time shifts and ambient conditions, which are part of the Canvass AI Platform featuring pre-packaged industrial AI solutions. 

The new patent builds on the Company's previous patent US16/230,729 for AI-based predictive maintenance and enhances the ability to capture the dynamic nature of a process more accurately. It does so by understanding the rate of process changes, and applying it as observed time intervals for grouping data and patterns for analysis. This novel pre-processing allows the Canvass AI Platform to develop, apply and continuously improve the knowledge of the process and domain to provide rapid actionable Industrial AI insights to users.

"Canvass AI is leading the charge to help customers achieve both productivity and sustainability goals through industrial AI innovation that is unmatched by traditional enterprise AI approaches," said Humera Malik, CEO Canvass AI. "With this level of accuracy and speed users can also achieve quick time to value and build confidence to start on their AI journey to optimize their assets, processes, and workflows."

Canvass AI's customers span the oil and gas, chemical and petrochemical, metals and mining, and energy sectors, all of whom contribute significantly to the global economy as well as climate change. The Canvass AI platform provides industrial engineers with easy-to-use AI solutions to apply and scale across their operations that address their operational challenges, without requiring coding or data science expertise. Today, leading industrials and manufacturers use Canvass AI to reduce carbon emissions and waste, improve yields by proactively managing quality, and optimize energy and water consumption.

About Canvass AI

Canvass AI is a leading software provider that enables industrial companies exceed their operations and sustainability targets with patented Industrial AI technology. Its AI-as-a-Service is designed to co-exist with existing technologies and empower workforces to achieve faster sustainable outcomes. Backed by Alphabet, and Yamaha Motor Ventures, the Company is a member of the World Economic Forum's Global Innovation Community, Next Generation Manufacturing Canada, and is recognized by CB Insights as one of the world's top 50 technology companies that is advancing manufacturing. Follow us on Twitter or LinkedIn


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