Mitsubishi Electric Corporation, through its ME Innovation Fund, has announced a strategic investment in Things, a Japan-based startup specializing in AI-assisted Product Lifecycle Management (PLM) systems for the manufacturing industry. This marks the 12th investment by Mitsubishi’s dedicated innovation fund.
The collaboration aims to synergize Mitsubishi Electric’s extensive expertise in manufacturing and control systems with Things’ cutting-edge generative AI technology. The primary objective is to accelerate digital transformation (DX) solutions across the manufacturing sector, particularly in Japan.
This initiative seeks to address pressing challenges such as labor shortages and the aging of skilled technicians, which often impede the efficient transfer of critical expertise within the industry.
Things launched its ‘PRISM’ PLM system in May 2023, a solution that leverages generative AI to enhance information structure and optimize its usage in manufacturing processes. The PRISM system offers significant advantages in terms of cost-effectiveness and scalability.
Both Mitsubishi Electric and Things anticipate that this partnership will generate new value and bolster their respective competitive positions in the market.
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