Sheffield software firm IntelliAM AI has scooped a £263,000 Digital Innovation Fund award

A subsidiary of Sheffield software specialist IntelliAM has been awarded £263,000 from the Digital Innovation Fund for a research project.

IntelliAM AI plc, the software company harnessing the power of artificial intelligence and machine learning in the manufacturing industry, has announced that IntelliAM AI has been named a Lighthouse for AI, resulting in a Lighthouse Funding Award for a research project to be completed during the current financial situation of the company. year. The grant is for research into the application of AI in lubrication analysis and was made by The Smart Manufacturing Data Hub, which is funded by Innovate UK.

Lubrication is one of the key drivers of manufacturing downtime and IntelliAM AI has access to over 180 UK manufacturing sites with lubrication analysis results for thousands of components over the last 10 years.

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The research project will use the data, as well as new data that will be collected during the project, to create a model to advise manufacturers and SMEs on best lubrication practices for their components.

The firm said: “The project will help reduce machine downtime on manufacturers’ equipment and build resilience against the reduction in engineering skills we currently have in the UK. Sustainability will be improved as oil will only be replaced when needed. This project will impact the company on three fronts, namely improving internal productivity, access to SMEs and a commercial product to increase sales.”

News of the funding comes days after the company began trading on the Aquis stock exchange’s growth market, raising £5.08 million in a placement. The company was founded to use AI models to increase operational efficiency for customers, and its vision is to harness the power of artificial intelligence through machine learning and revolutionize asset management in manufacturing.

On launch on AQSE it completed the acquisition of Sheffield engineering group 53 North.