SKF Acquires Industrial Artificial Intelligence Company

SKF has acquired Presenso Ltd., a company that develops and deploys artificial intelligence (AI)-based software for improving machine performance. Presenso's AI capability enables production plants to find and act on anomalies that were previously undetectable, automatically and without the need to employ additional data scientists. Presenso's solution is used by industrial plants to increase production output and revenue by reducing the incidence of unplanned asset downtime. Presenso, located in Haifa, Israel, built its solution based on innovations in the field of Automated Machine Learning or AutoML. AutoML accelerates the rate of AI deployment, enabling plants to scale industrial analytics across a large asset base.