Enterprises face multi-million dollar annual contracts and payback periods of up to eight years for IoT hardware solutions available from incumbents.
This upfront capital expenditure on IoT hardware makes full visibility of the inner workings on a site unaffordable for the long tail of enterprises that prefer lower entry prices.
This is partly why adoption of IoT hardware is lower than the settled consensus would suggest.
Physical installation of new IoT hardware (including sensors, controllers, and servers) is a complex process that contributes to long timelines.
It would typically involve submission of detailed plans by the designated installer and extensive multi-stakeholder approval workflows to secure the green light to deploy to site.
This delays the time-to-value to illuminate the inner workings of all assets on the industrial site(s).
Installation of new IoT hardware on an industrial site usually requires a definite period of operational downtime that may disrupt business as usual.
New IoT hardware also increases the surface area for cyber attacks via insecure wireless ports. This introduces a significant and potentially very costly cybersecurity risk.
Physical installation in remote, hazardous or secure areas of a site is also a major disruption risk.
Every industrial site already produces site-level energy consumption data for billing purposes.
Our software leverages this existing, under-utilized data stream as its sole input, making our solution universally applicable without requiring any new IoT hardware infrastructure.
Our AI-native Software's key intellectual property is its vertical-specific foundation models.
They are trained to disaggregate a site's main energy feed, identifying the unique electrical signature of every individual asset to monitor its real-time health and performance.
The result is a 'league table' of the full asset inventory for the industrial site, updated in real-time.
The league table allows individual assets to be ranked based on severity of their vital signs, providing the real-time sight of early signs of energy waste and asset failure for prompt remediation.
The low marginal cost of our 100% cloud-hosted software approach makes it viable to monitor every connected asset on a site, not just the accessible fraction covered by a limited IoT hardware budget.
Our favourable unit economics makes a full understanding of the inner workings of every asset on a site the norm, not the exception.
Our software's foundation models are generalisable to the vertical for which they are trained. Each new site we onboard in a vertical improves the model's intelligence for the entire vertical.
This creates powerful network effects and economies of scale that incumbents' IoT hardware solutions fundamentally cannot replicate.
Our software remotely connects to a site's main meter, then disaggregates the bulk electrical signature into the unique electrical signatures of connected assets in real-time.
This fully-remote site access eliminates the disruptive installation processes associated with current state-of-the-art IoT hardware.