Investment in a software developer of maintenance analytics for mining equipment
Sumitomo Corporation acquired a stake in Relialytics, a company developing an AI-based predictive maintenance service for mining equipment, in June 2019.
In recent years mining development have been automated and optimised to reduce costs and increase productivity. Maintenance of mining equipment remains dependent on the intuition and experience of skilled workers, and there are needs for visualisation and optimisation of the maintenance process using data and AI.
Relialytics provides a service which analyses data obtained from lubricant oil using AI and detects equipment malfunction or signs of failure to propose the optimal maintenance regime, adaptable to all types of mining equipment.
Furthermore, Relialytics is currently developing a software for this service that can be used in the front lines, and is working to upgrade the system so that it can analyse not just lubricant but temperature, vibration and other data.
This investment will improve the operations of Sumitomo Corporation’s existing mines, and contribute to social infrastructure improvement by expanding AI and IoT-based services in fields surrounding mines.
To learn more about Sumitomo Corporation, please visit here