Adelaide, April 5th 2017: Australian software company Ailytic has been awarded a South Australian Early Commercialisation Fund grant as part of the State Government’s innovation initiative administered by TechInSA. Ailytic’s “Resource Optimiser” software utilises Artificial Intelligence (AI) to improve decisions about resource allocation in complex production environments, leading to significant cost savings and efficiencies.
Ailytic will leverage the grant assistance to accelerate the development of the resource optimisation module to add to its current platform of decision support products. The funding, matched by investor and seed capital will aid in R&D and pilot engagements with a focus on key South Australian industries such as wine, food manufacture, packaging and general manufacturing. Specifically, the Resource Optimiser will deliver outcomes such as reduced costs, improved staff management, efficient equipment utilisation and better customer service.
“After raw materials, workforce and equipment expenditure represents the next two most influential cost components to most manufacturers” said James Balzary, Co-Founder and CEO of Ailytic. “While the key focus for improved performance should be on optimising production, it is imperative to allocate the right number of people with the right capabilities to the expected work at hand, and to also ensure that all equipment used in the manufacturing process is efficiently utilised”. “We are focused on delivering that capability in a flexible, integrated system that can be rapidly implemented”. “The SAECF grant program is a great addition to the South Australian innovation ecosystem and will deliver real outcomes for the local economy, both in terms of supporting local businesses and allowing them to bring beneficial capabilities to global markets”.
“Companies like Ailytic are indicative of the innovative businesses and technologies being developed in South Australia. Their use of AI is an example of the disruptive technologies that TechinSA is assisting to bring to market” said Mr Joe Thorp, Chief Executive, TechinSA.
Ailytic is an Australian company delivering innovative performance management and optimisation solutions to manufacturing, food and beverage, packaging and general process and discrete industries. Ailytic’s capability enables insights that generate significant returns by utilising real-time metrics, artificial intelligence and predictive analytics to manage plant performance and create value. Lightweight, easily deployed, cloud-based and intelligent with significant end-user focus, Ailytic’s capability reduces time to value by turning operations staff into analysts with easy modelling of complex operational environments.
TechInSA works with the SA high tech sector to facilitate commercialisation and growth. The agency administers the SAECF grants program and provides business assistance to early stage companies and entrepreneurs. It also manages two business facilities based at the Thebarton Technology Precinct. TechInSA is the South Australian Government’s innovation agency.