Mitsubishi Electric's ME Innovation Fund Invests in AI-assisted PLM Systems Startup 'Things'
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 (DX) solutions that address various manufacturing challenges.
In recent years, Japan's manufacturing industry has faced labor shortages, the aging of skilled technicians and other challenges that are inhibiting skills transfer. In response, DX 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, and for effectively implementing proofs of concept (PoCs) across a wide range of companies.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
USA Today
24 minutes ago
- USA Today
Proposed 72-hour train route between LA, NY aims to debut in 2026
A rail company is proposing a new privately funded train route that can begin transporting people between Los Angeles and New York City in less than 72 hours as soon as next year. Delaware-based group AmeriStarRail unveiled its coast-to-coast route called the Transcontinental Chief with hopes of it being operational by May 10, 2026, ahead of the United States' 250th birthday and the 2026 FIFA World Cup. The goal date, which lands on National Train Day, is subject to operating agreements with various host railroads, the company clarified. The project has been presented to the National Railroad Passenger Corporation, also known as Amtrak. AmeriStarRail argues that a partnership between the two companies would be mutually beneficial, emphasizing that the route would be more profitable than Amtrak's existing long-distance trains. AmeriStarRail CEO Scott Spencer said Amtrak is seeking more information on the planning and coordination of the proposed system. "This is a way to confront the challenges Amtrak faces and create opportunities for them to succeed," Spencer told USA TODAY. "We're hopeful that all the parties that are involved including the host railroads recognize what a great opportunity this is for our nation." Amtrak did not respond to multiple USA TODAY requests for comment. Transcontinental Chief to replace existing bicoastal routes AmeriStarRail said the Transcontinental Chief train would replace the Southwest Chief and the Pennsylvanian Amtrak routes that currently help transport people between Southern California and New York via stops in Chicago or Harrisburg, Pennsylvania. New Yorkers will board the train from the Hoboken Terminal in New Jersey, a three-mile ride to Lower Manhattan across the Hudson River through the Holland Tunnel. AmeriStarRail clarified that it's unable to directly stop in the Big Apple due to New York Penn Station tunnel restrictions for the passenger cars Amtrak uses, known as Superliners. However, there are no boarding restrictions in Los Angeles. The route would also include a single-level train section from Harrisburg to serve people in Washington, D.C., via Philadelphia, according to AmeriStarRail. "In discussion with various interests along the route, whether that be Victorville, California; Newton, Kanas; Lebanon, Pennsylvania, they recognize the economic engine that the Transcontinental Chief will be for their communities," Spencer said. Spencer added that the Transcontinental Chief would also offer travelers on Route 66 an alternative way back from their nearly 2,500-mile drive. Bicoastal route to be 'rolling rest stop for truckers' In addition to transporting passengers, the Transcontinental Chief would also transport truck drivers and their tractor trailers between the West and East coasts within the three-day span, according to AmeriStarRail. Through a roll-on, roll-off loading system, the route would serve as a "rolling rest stop for truckers" while offering a safe alternative to parking shortages, the company states. "At RailPorts along the route, truckers will be able to drive their entire tractor trailer trucks onto railroad flatcars and then rest and relax onboard Amtrak Coach, Sleeper and Dining cars as they travel 200 - 500 miles during their federally mandated 10 hour rest period," an AmeriStarRail news release states. Intending to debut next May, Spencer said the route would start with intermediate ports available in LA and New York City, with plans to incorporate more in the future. The company aims to transport cars, vans, motorcycles, RVs and charter motorcoaches, eventually also serving the Grand Canyon and Chicago.
Business Insider
an hour ago
- Business Insider
Amazon earnings recap: Stock falls on murky guidance and AI competition despite Q2 earnings beat
Net sales at Amazon grew 13% to $167.7 billion for the quarter ended June 30, above the $162 billion analysts polled by Bloomberg had expected. The company's earnings of $1.68 per share smashed estimates of $1.33. But Amazon said its operating income for the third quarter would be between $15.5 billion and $20.5 billion, potentially lower than analysts' estimate of $19.41 billion, souring the mood. During the company's earnings call, CEO Andy Jassy gave broad and lengthy responses to questions about how Amazon is responding to AI competition. Shares of the Seattle-based company sank 7% in after-hours trading on Thursday. Executives also fielded questions about tariffs during the call. Jassy said the company hasn't seen much effect in the first half of 2025 and pointed to the company's strong Prime Day results as evidence that shoppers are still placing orders despite the threat of tariff costs.
New York Post
an hour ago
- New York Post
Amazon shares fall on weak cloud growth while rivals Google, Microsoft thrive: ‘Very disappointing'
Amazon on Thursday forecast third-quarter sales above market estimates, but failed to live up to lofty expectations for its Amazon Web Services cloud computing unit after rivals handily beat expectations. Shares fell by more than 3% in after-hours trading after finishing regular trading up 1.7% to $234.11. Both Google-parent Alphabet and Microsoft posted big cloud computing revenue gains this month. AWS profit margins also contracted. Amazon said they were 32.9% in the second quarter, down from 39.5% in this year's first quarter and 35.5% a year ago. The second-quarter margin results were at their lowest level since the final quarter of 2023. 3 AWS, the cloud unit, reported a 17.5% increase in revenue to $30.9 billion. By comparison, sales for Microsoft's Azure rose 39% and Google Cloud gained 32%. REUTERS AWS, the cloud unit, reported a 17.5% increase in revenue to $30.9 billion, edging past expectations of $30.77 billion. By comparison, sales for Microsoft's Azure rose 39% and Google Cloud gained 32%. After competitors' strong showing, 'AWS is lingering at 17% growth,' said Gil Luria, a D.A. Davidson analyst. 'That is very disappointing, even to the point where if Microsoft's Azure continues to grow at these rates, it may overtake AWS as the largest cloud provider by the end of next year.' Amazon expects total net sales to be between $174.0 billion and $179.5 billion in the third quarter, compared with analysts' average estimate of $173.08 billion, according to data compiled by LSEG. The range for operating income in the current quarter was also light. Amazon forecast between $15.5 billion and $20.5 billion, compared with expectations of $19.45 billion. Both Microsoft and Alphabet cited massive demand for their cloud computing services to boost their already huge capital spending, but also noted they still faced capacity constraints that limited their ability to meet demand. AWS represents a small part of Amazon's total revenue, but it is a key driver of profits, typically accounting for about 60% of Amazon's overall operating income. 3 While Amazon has poured billions of dollars into AI infrastructure, analysts have said the lack of a strong AI model from AWS is causing concerns that the company could be trailing rivals in AI development. CEO Andy Jassy, above. REUTERS While Amazon has poured billions of dollars into AI infrastructure, analysts have said the lack of a strong AI model from AWS is causing concerns that the company could be trailing rivals in AI development. The AWS results are 'alarming,' said Dave Wagner, portfolio manager for Aptus Capital Advisers, which holds Amazon shares. 'Amazon is an operating leverage story and they had to be able to grow, at least relative to costs. And they haven't done it.' The Seattle-based retailer posted online store sales of $61.5 billion, an 11% gain. Advertising sales, a fast-growing segment for Amazon, were up 23% to $15.7 billion. Investors have been watching Amazon's e-commerce unit for any signs that tariff-related uncertainty has dashed consumer confidence. US data showed consumer spending rose moderately in June. 3 Amazon posted online store sales of $61.5 billion, an 11% gain. REUTERS President Trump's tariffs have dampened the US retail industry, leaving major retailers and consumer goods companies scrambling to protect their margins or resort to price increases, all while ensuring consumer demand remains intact. Trump has said the levies will bring manufacturing power and jobs back to the US. Analysts had said Amazon's focus on low prices, quick delivery and the sheer number of product categories helped cement its position as the No. 1 e-commerce retailer for US consumers, giving it an edge over rivals. Amazon has said it was pushing suppliers to pull forward inventories to ensure supply and keep prices as low as possible. Still, prices for goods made in China and sold on have been rising faster than overall inflation, Reuters reported last month. The company has been trimming jobs in its corporate offices, including at its AWS, books, devices and podcasting units. Its efforts were showing results: headcount fell by 14,000 workers from this year's first quarter, bringing the total to 1.46 million.
