Eight Solutions and BID Group join up for digital transformation of the forest products industry
July 27, 2018 - Eight Solutions Inc., a technology company offering Artificial Intelligence (AI) platform for everyone, announced that a letter of intent has been signed with BID Group Technologies Ltd. to form a joint venture called Oper8.
Eight Solutions and BID Group have created an integrated digital platform for bringing value to raw and deep live data through the Industrial Internet of Things (IIoT), AI, and predictive analytics in order to truly transform the forest products industry.
As one of Eight Solutions' earliest investors, BID Group has been and continues to be a strong partner for Eight Solutions. For example, BID Group has embedded Cumul8 IIoT and predictive analytics software from Eight Solutions in all of its new equipment. Now, the joint venture between Eight Solutions and BID Group takes the relationship to the next level by tightly integrating technology and people from both organizations. BID Group’s proven hardware, software, and services experience in the forest products sector is combined with the big data and AI expertise of Eight Solutions for an industry-specific digital platform and predictive data models for asset health and other metrics.
The base of the Oper8 platform is the big data analytic, visual, and predictive AI capabilities of Cumul8, which the forestry experts at BID Group can use to apply a very specific and deeply intuitive set of performance models for the industry. The goal of Oper8 is to help transform the industry to be even more productive and profitable.
“As one of the largest integrated suppliers to the forest products industry, we have the reach to enable its digital transformation,” said Alistair Cook, president and chief executive officer of BID Group. “We are already building turnkey, connected mills containing IIoT ready machines for the industry’s largest companies. By partnering with Eight Solutions, data from these machines can be connected like never before with jointly developed data models providing actionable insights powered by AI. Oper8 can help our customers improve operations and ultimately their returns on capital investment.”
Although Oper8 is a digital solution specific to forest products, the Cumul8 predictive analytics platform is industry agnostic. “An abundance of data is being generated in every industry, but organizations may not have the tools to harness and get insights from it,” said Rory Armes, chief executive officer of Eight Solutions. “The Cumul8 platform was designed to be very flexible and highly configurable, from the numerous types of disparate data sources that can be ingested to the cloud to the way in which predictive data models are created as well as how data is visualized. As with Oper8, domain experts in other industries can lean on Cumul8 to operationalize their data for speed to value.”
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