Altair and Rolls-Royce Germany Join Forces to Converge Artificial Intelligence and Engineering
Altair (Nasdaq: ALTR) has joined forces with Rolls-Royce Germany to leverage artificial intelligence (AI) and data analytics in aerospace engine engineering. This collaboration aims to reduce development time and costs while enhancing product performance and quality. Notably, the partnership will utilize Altair Knowledge Works™ for machine learning applications across various data sources. With potential savings of millions in recurring costs, this initiative signifies a key step in Rolls-Royce's digital transformation.
- Collaboration with Rolls-Royce Germany to enhance AI-driven engineering use cases.
- Utilization of Altair Knowledge Works™ for improved data analytics.
- Potential to reduce recurring costs by millions of Euros.
- None.
First-of-its-kind collaboration will drive transformative business value by reducing development time and costs, improving product performance and quality
TROY, Mich., Jan. 19, 2021 /PRNewswire/ -- Altair, (Nasdaq: ALTR) a global technology company providing solutions in data analytics, simulation, and high-performance computing (HPC), today announced that is has signed a memo of understanding (MoU) with Rolls-Royce Germany to collaboratively connect artificial intelligence (AI) and engineering to derive business value across Rolls-Royce's engineering, testing, and design of aerospace engines.
Industries globally are increasingly seeking ways to leverage data analytics and AI to significantly increase revenues, cut costs, and reduce risks. Forward-thinking organizations like Rolls-Royce Germany are undergoing groundbreaking digital transformations and have identified engineering as a key area. In particular, the collaboration with Altair will address structural analysis and testing, bringing together vast amounts of historical product and in-service data from disparate sources to unlock new AI-driven engineering use cases to drive significant business value.
"As a pioneer of the convergence of data analytics and engineering, it's a natural fit for Altair to collaborate with Rolls-Royce Germany, an organization that sees the power of technology and the potential of AI to unlock game-changing business value," said James R. Scapa, founder and chief executive officer, Altair. "The demand for easy-to-use, low/no code, yet flexible AI and machine learning tools has never been greater. It is an honor to be the technology provider of choice to help Rolls-Royce Germany boost its business while also further evolving our data analytics solutions."
The Altair and Rolls-Royce Germany collaboration will address a wide variety of use cases, including applying data science to the vast amounts of engineering testing data, which can lead to a significantly reduced number of sensors needed. This single use case alone has the potential to reduce recurring costs by millions of Euros.
"We share a common vision on the convergence of AI and engineering to drive significant positive business outcomes. Altair has unique domain expertise and best-in-class, low-code data analytics technology. This collaboration will enable us to bridge the gap between engineering and data science, and empower our engineers to truly be engineers, focused on extracting the benefits of machine learning and AI from our data," said Dr. Peter Wehle, Head of Innovation and R&T, Rolls-Royce Deutschland. "Ultimately this collaboration will help to democratize our data analytics, enabling our engineers to make better daily data-driven decisions, and transform our business and products."
Rolls-Royce has been using AI and advanced data analytics at the heart of its business for more than 20 years, including in its world-leading engine health monitoring service, as well as manufacturing. It has recently announced two breakthroughs in AI ethics and trustworthiness, which it will publish for free on its website later this year.
Initially, Rolls-Royce Germany will leverage Altair Knowledge Works™ – a collaborative end-to-end data analytics platform – to enable engineers to apply machine learning (ML) methods utilizing simulation data, test data, manufacturing data, and operational data. Knowledge Works is designed so users can easily and efficiently access disparate data sources and formats in a low code/no code environment, transform the data, use it to build ML models, and share knowledge discovery across the business.
About Altair (Nasdaq: ALTR)
Altair is a global technology company that provides software and cloud solutions in the areas of data analytics, simulation, and high-performance computing (HPC). Altair enables organizations across broad industry segments to compete more effectively in a connected world while creating a more sustainable future. To learn more, please visit www.altair.com.
Media Contacts Altair:
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Jennifer Ristic
+1.216.849.3109
jristic@altair.com
Altair Europe/The Middle East/Africa
Evelyn Gebhardt
+49 7031 6208 0
gebhardt@altair.de
Investor Relations
The Blueshirt Group
Monica Gould +1 212.871.3927
ir@altair.com
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SOURCE Altair
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