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Google Cloud and German industrial giant Siemens announced Monday a new partnership to optimize factory processes and improve factory-floor productivity. As part of the agreement, Siemens will integrate Google Clouds’ data cloud, artificial intelligence and machine learning (AI/ML) technologies into its factory automation offerings.
“We offer a number of off-the-shelf AI products ranging from Vision AI to Dialog flow, to Recommendations AI that will serve as building blocks for new joint solutions with Siemens,” said Dominik Wee, managing director manufacturing and industrial at Google Cloud. “These solutions will address common factory automation use cases, such as quality control, energy efficiency and more. Ultimately, this collaboration is about providing a unique, end-to-end offering to unlock the value for manufacturing companies through the convergence of IT and OT [operating technology].”
Siemens unveiled targets to outpace the market by combining its core engineering business with digital expertise in the first strategic blueprint under new Chief Executive Roland Busch.
Busch, who took over as CEO from Joe Kaeser in February, wants to win customers and deliver growth by using Siemens’s software and hardware, the company said at its investor day
The German engineering company aims to expand beyond its traditional industrial customers by boosting its digital offering used to improve the performance of their factories, trains and buildings.
As the world increasingly focuses attention on climate change, Roland Busch, the CEO of Siemens AG, says his company is well-positioned to help manage the challenges.Munich-based Siemens specializes in making buildings, factories and railroads more efficient through digitalization and automation. And its medical unit includes technology that could lead to faster treatments for stroke patients.
Siemens has predicted 5% to 7% annual revenue growth for the next three to five years, based largely on its expectation that demand for its products involved in energy efficiency will steadily increase. Siemens’ stock is up roughly 14% this year. And 13 of 21 industry analysts who follow it give the company a buy rating, according to FactSet.
Busch, who became CEO in February, has been with Siemens for more than a quarter-centur
SAM Analytic Solutions is an Authorized Distributor of a variety of Industrial Automation and Control hardware and software solutions from Siemens. The company features a growing portfolio of information collection, reporting, process, discrete and edge analytics, cybersecurity, IIoT, computer vision, and image processing products and services.