Fero Labs Redefines Trust in AI with ExplainIt Release for Industrial Live Predictions – Yahoo Finance

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Fero Labs’ ExplainIt feature for Live Predictions empowers manufacturers to diagnose or prevent issues using live factor-based explanations to understand production anomalies

NEW YORK, March 12, 2024–(BUSINESS WIRE)–Today, Fero Labs, the only Profitable Sustainability Platform for industrial optimization, announced the release of their ground-breaking feature ‘ExplainIt for Live Predictions’ which expands a factory’s production knowledge in real-time. This advanced feature for cross-functional teams increases trust in AI predictions by disclosing real-time text explanations about abnormal factors influencing their live production.

Expanding on Fero Labs’ white-box ML, which provides full transparency of Fero’s powerful machine learning models, the new ExplainIt feature provides a contextual explanation of anomalous factors involved in each live production optimization.

Real-time text explanations include:

  • Which subset of factors are unusual

  • How each factor is unusual

  • Degree of unusualness

  • Typical historical production ranges for these factors

“Production engineers are under constant pressure to make operational changes, but it’s difficult to have confidence in a change that you can’t explain,” said Berk Birand, Fero Labs Co-founder and CEO, “The addition of our ExplainIt feature has set the standard for how humans and AI can augment each other to turn cross-functional production operations into a trusted source of knowledge -making factories smarter, more profitable, and sustainable.”

ExplainIt not only provides engineers with live AI predictions they can trust, it exponentially increases their production knowledge in real-time by automatically saving each factor explanation for knowledge retention, training, or further analysis. Simple text-based analyses are easier for humans to read, remember and repeat compared to visualized data.

This type of analysis is typically addressed through linear Root Cause Analysis (RCA) tools. Unlike traditional methods, Fero Labs’ solution is non-linear, much like process operations, and delivers results in seconds rather than the hours or days typically needed. Traditional methods generally require the engineer to preselect a small sample of factors to investigate, which can introduce potentially misleading biases. Fero Labs’ software has the power to evaluate all relevant factors which improves insight and prediction accuracy.

Learn more about Fero Labs ExplainIt for Live Predictions.

About Fero Labs

Fero Labs is the Profitable Sustainability Platform where factories make confident production changes that drive profit and sustainability. Augmented by Fero Labs AI, plants make better use of raw and recycled materials, production time, and energy. Together we’ll build a sustainable tomorrow.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240312703582/en/


Sydney Dennen
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