Siemens Healthineers has entered into a merger agreement with US – based Corindus Vascular Robotics a developer and producer of robotic systems for minimally invasive procedures. Under the terms of the agreement, Siemens Healthineers will acquire all fully diluted shares of Corindus for $4.28 per share in cash or $1.1 billion in total. The transaction is expected to be closed by end of calendar year 2019, subject to Corindus shareholder approval, receipt of regulatory approvals and other customary closing conditions. The Corindus board fully supports the acquisition proposal. Corindus is headquartered in Waltham, Boston, Massachusetts and currently has approximately 100 employees.
Many industries are going to benefit from artificial intelligence development. It's hard to say which ones in the long term will find the highest level of success, but we can already see significant benefits in a host of industries. At its core, artificial intelligence is a tool that can acquire, organize and analyze vast amounts of data to create and parameterize models to recognize patterns and make predictions. AI is delivering many benefits and its continued use is the key to making a business more competitive. By automating some of the repetitive, basic tasks, a company can increase productivity, reduce mistakes and enable quicker, better decisions.
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Various horizontal and vertical approaches exist for entering the IoT market. The debate about IoT market strategies will continue because of the bold projections for the IoT market. Unfortunately, hype leads to myth, and myth leads to confusion. Moving forward means taking a step back to look for clues about how the IoT market could evolve. Let's dive into a practical example from the Smart Home market to see how the future of HVAC systems is intertwined with AI and IoT.
The most frequently used AI applications are voice recognition and assistance systems, each of which was mentioned by 40 percent of those surveyed. Bots and robotics (30 percent each) are still lagging behind. Optimizing internal processes (37 percent) and improved efficiency (36 percent) are the key goals pursued through the use of ML solutions. Only about one-fourth views the technology as a means to develop new products and services.
Digital twin technology can speed time to market, reduce costs, and allow a company to create a much broader portfolio of products. Some leading companies are doing just that, through an approach called "digital twins." This essentially amounts to a "digital representation of a physical product in all its aspects," says Dr. Norbert Gaus of Siemens Corporate Technology. Gaus recently joined CXOTalk host Michael Krigsman to describe Siemens' adoption of digital twin technology. Siemens combines a digitized version of physical products with AI.
He is referring to the onset of the fourth industrial revolution, which the World Economic Forum predicted "will fundamentally alter the way we live, work and relate to one another. In its scale, scope and complexity, the transformation will be unlike anything humankind has experienced before." Fueled by advances in artificial intelligence, the Internet of Things and computing speed, businesses -- from auto to aerospace to retail -- are changing the fundamental building blocks of how they operate. By 2030, machine learning could contribute nearly $16 trillion to the global economy, research shows. For Mrosik and Siemens, the revolution is well underway.
OSAKA – There's a sense of panic within Japan Inc. and the government -- the world's No. 3 economy, doesn't have enough experts in artificial intelligence, and it's time to do something about it. Prime Minister Shinzo Abe in June unveiled a plan to train 250,000 people in AI skills annually by 2025, albeit one criticized as unrealistic due to a shortage of teachers. Tech heavyweights like Sony Corp. are hiking pay for the right hires and boosting recruitment of foreign engineers. But Daikin Industries Ltd., the world's biggest maker of air conditioners with a market value of $37 billion, is taking a more unusual route to AI expertise. At a disadvantage to bigger tech firms in attracting top talent, it has created an in-house program that takes new graduates and current employees -- almost all with no AI background -- and trains them up.
This reliable, feature-packed air conditioner from GE earned our top honors during testing. The GE Profile Series PHC08LY is a window-mounted air conditioner that blends top-notch cooling capabilities with a variety of unique features, with a bit of style and elegance. During testing, this 8,000 BTU (British Thermal Units) AC unit reduced our 340 square foot test area's temperature by 10 F in only 43 minutes and lowered the room's humidity by 14 percent in the same amount of time. On top of this, it ran (for an air conditioner) quietly. While using the GE Profile Series' Quiet Mode it only put out 49.3 dBA of sound -- that's less noise than an average household refrigerator makes.
This is, what we aim to at our own factories. Read my introduction to a series of blogposts how we do this. Harnessing the power of artificial intelligence (AI), engineers at our manufacturing plant in Amberg can predict when a key component is likely to fail – up to 36 hours before the failure actually happens. This allows them to react in plenty of time to avoid a costly breakdown of the machine. In our electronics manufacturing facility in Amberg, we have several PCB cutting machines that are deployed for a number of our SIMATIC products – including the S7-300 and ET 200.