Mitsubishi invests in Things for AI-assisted PLM systems
Mitsubishi Electric Corporation, through its ME Innovation Fund, has invested in Things, Inc., a Japan-based startup that develops and provides AI-assisted product lifecycle management (PLM) systems for manufacturing, specializing in comprehensive document management from product planning to development to disposal.
Through this investment, Mitsubishi Electric aims to integrate its extensive manufacturing and control expertise with Things’ generative AI technology to accelerate the development of digital transformation to address various manufacturing challenges.
In recent years, Japan’s manufacturing industry has faced labour shortages, the ageing of skilled technicians and other challenges that are inhibiting skills transfer. In response, digital transformation initiatives, such as the implementation of PLM and other digital systems, have advanced rapidly but have encountered issues regarding development time, cost, usability, and scalability.
Things introduced its “PRISM” PLM system in May 2023 to leverage generative AI to improve the structure and usage of information in manufacturing. PRISM offers significant cost and scalability advantages for enhancing user interfaces and experiences, as well as for effectively implementing proofs of concept (PoCs) across a wide range of companies.
Atsuya Suzuki, CEO of Things, Inc., said, “The partnership through the ME Innovation Fund combines our technology with Mitsubishi Electric’s expertise in manufacturing and control. We aim to accelerate the global implementation of pioneering digital transformation for manufacturing.”
Komi Matsubara, Executive Officer (Vice President, Business Innovation), Mitsubishi Electric Corporation, said, “Through our collaboration with Things, we expect to create new value by integrating our manufacturing expertise with Things’ generative-AI technology. We aim to leverage this initiative to enhance the overall competitiveness of the Mitsubishi Electric group.”
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