Haifa, 21 June 2018 – A predictive maintenance start-up for the process industry was selected among hundreds of candidates as one of the World Economic Forum’s “technology pioneers”. Precognize detects failures days to weeks in advance, helps avoiding casualties, prevents costly shutdowns, environmental damage, and bad reputation. Precognize’s technology combines disciplines which are otherwise not connected: sophisticated machine learning, graph analysis algorithms, and system engineering conceptual design techniques.
The World Economic Forum’s Technology Pioneers community are early-stage companies from around the world that are involved in the design, development and deployment of new technologies and innovations, and are poised to have a significant impact on business and society.
This year’s cohort is the most diverse ever, both geographically and in terms of gender. 25 % are female-led, and a majority (54 %) come from regions outside the United States and Silicon Valley, with each continent represented, barring Antarctica. There is also a wide variety in the technologies the pioneers focus on: the focus technologies include artificial intelligence, big data and Internet of Things (IoT), biotechnology, blockchain, autonomous vehicles, cyber security, vertical farming and other agricultural advances, decentralized microgrids and robotics. The full list of technology pioneers can be found at http://wef.ch/techpioneers18.
Following its selection as Technology Pioneer, CEO Chen Linchevski of Precognize, will be participating in the World Economic Forum Annual Meeting of the New Champions. This meeting, also dubbed “Summer Davos” will be held in Tianjin, China, 18 to 20 September. Many Pioneers will also attend the Annual Meeting in Davos, in January 2019, and continue to contribute to Forum initiatives in the course pioneers of the next two years.
“We welcome Precognize in this diverse group of technology pioneers,” says Fulvia Montresor, Head of Technology Pioneers at the World Economic Forum. “Precognize and its fellow pioneers are front and center in shaping the ongoing Fourth Industrial Revolution and we believe they will be transforming society and industry in a positive way in the years to come.”
“We are proud to be acknowledged as a Technology Pioneer by the World Economic Forum, leading the industry to cross new frontiers. We hope that this would promote our vision of digital transformation and predictive maintenance in particular,” said Chen Linchevski, CEO of Precognize. “We believe that while solutions are more or less resolved from data analytics point of view, the big challenge lays in embracing the digital solution into the daily plant routine. We encourage the traditional industrial companies to jump into the water, try the new solutions, and be partners in the process of taking the industry forward”.
The Technology Pioneers were selected by a selection committee of more than 60 academics, entrepreneurs, venture capitalists and corporate executives. The committee based its decisions on criteria including innovation, potential impact and leadership. Past recipients include Airbnb, Google, Kickstarter, Mozilla, Palantir Technologies, Spotify, TransferWise, Twitter and Wikimedia.
All information on this year’s Technology Pioneers can be found at http://wef.ch/techpioneers18.
More information on past winners can be found at http://www.weforum.org/community/technology-pioneers.
Precognize is a predictive maintenance software for the process industry. Precognize predicts and detects failures, helps avoiding casualties, prevents costly shutdowns, and bad reputation. It relies on sensor data collected from the entire plant, to trigger only a few true, early and actionable alerts. It turns the human knowledge of the plant into a behavioral graph and uses it together with machine learning.
For more information visit www.precog.co.
The World Economic Forum, committed to improving the state of the world, is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business and other leaders of society to shape global, regional and industry agendas (www.weforum.org).
Jürgen van Santen
Phone: +49 69 4009-1571