SparkCognition: Helping Industries Ride the AI Wave

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Stephen Gold, CMO
In today's digital transformation, businesses across all industries are at the forefront of the artificial intelligence (AI) tsunami. They are seeing the significant value AI and machine learning (ML) technologies bring to their operations. But while undergoing this necessary but tedious transformation, a significant challenge facing all these industries is the proliferation of data and the lack of experienced personnel to manually extract insights. It is estimated that the global datasphere will grow to 175 zettabytes by 2025, and the big data analytics market is set to reach $103 billion by 2023. This leaves a lot of revenue, production, and operational excellence opportunities on the table. For example, poor data quality costs the US economy up to $3.1 trillion yearly. With this in mind, it's not uncommon for companies to recognize the need for AI-powered solutions, but many leaders don't know the best place to begin. As a result, they are seeking an AI partner to help them examine their existing operations and data lakes and determine where AI and ML solutions can quickly have the greatest impact.

Enter SparkCognition—an award-winning AI solutions provider.

Since its inception, the Texas-based company has been focused on solving the most critical challenges facing industries such as energy, manufacturing, logistics, financial services, aviation, and more. The company provides AI, ML, and natural language processing solutions tailored to customers' individual needs. "Infrastructure is a $100 trillion problem, and we are working on wrapping physical assets with an intelligent, AI-powered software fabric," says Stephen Gold, CMO, SparkCognition. "Our suite of solutions enables organizations to quickly capitalize on their data, providing real-time analysis, amplifying their return on investment, and redefining best practices."

With its expertise in predicting future outcomes, optimizing processes, and preventing cyberattacks, SparkCognition enables organizations to run a more sustainable, safer, and profitable business. The company uses ML-based modeling to turn structured and unstructured data into actionable insights, offering real-time analysis, reporting, and alerting. "This allows our customers to prevent asset failures, identify operational inefficiencies, optimize prices, and ensure worker safety, all while avoiding zero-day cyberattacks on essential IT and OT infrastructure," adds Gold.

Such impeccable expertise and solutions empower SparkCognition to stand apart in the competitive landscape. With its wide knowledge base, 120+ patents, and a remarkable research team led by AI stalwart Professor Bruce Porter, the company focuses on advancing the science of AI and continues to lead both commercial and experimental innovations. "AI isn't just a buzzword we use to grab market attention, it's the foundation upon which our products and solutions are built," mentions Gold. "We marry domain expertise and code it into our industry solutions, which provide an intimate understanding of the key challenges facing our customers and how we can solve them."


Our suite of solutions enables organizations to quickly capitalize on their data, providing real-time analysis, amplifying their return on investment, and redefining best practices



SparkCognition's expertise is best exemplified by its numerous industry-based success scenarios. For instance, stuck pipe incidents are critical and expensive problems facing the oil and gas industry. To address these problems, SparkCognition leveraged predictive analytics and ML to real-time surface parameters collected from operational drilling rigs to build a baseline model of normal operations and then identify and flag risky deviations from established norms. This technique enabled drilling operators to prevent 96% of stuck pipe events, preventing downtime and potential equipment damages, saving operators up to $30 million each year. Within manufacturing, poor maintenance strategies can reduce a plant's overall productive capacity by up to 20%. For a global beverage manufacturer, SparkCognition developed an AI-powered solution for insight into end-to-end production performance, which provides real-time transparency into operations at both a KPI and process level. This solution has been used to reduce operating costs and improve efficiency by up to 5%. "Another example would be our AI-first approach in monitoring efficient wind turbine power production. With over 340k wind turbines operating globally and the cost of avoidable expenses and lost energy estimated to hit $32B annually by 2023, optimal wind operations are critical. Our platform quickly and accurately detects performance issues, automatically provides customers a visual indication of turbine performance in the form of a power curve 'health score,' and suggests corrective action. It allows operators to maximize energy production and ultimately increase the profitability of their assets," adds Gold.

Riding high on such success scenarios, SparkCognition has witnessed record growth in 2021 alone. The company expanded its offerings and capabilities into markets like financial services, renewable energy, and logistics by acquiring three technology businesses. It also opened a first-of-its-kind AI proving ground, HyperWerx –where it fosters aerial-terrestrial autonomy by bringing together the physical and digital world. "Going forward, we will continue to bring new talents, new partners, demo capabilities, and buildings to the HyperWerx campus, along with exploring new ways to bolster our offerings," concludes Gold.

Company
SparkCognition

Headquarters
Austin, TX

Management
Stephen Gold, CMO

Description
SparkCognition is an award-winning AI solution provider that allows organizations to run a more sustainable, safer, and profitable business by predicting future outcomes, optimizing processes, and preventing cyber-attacks. Since its inception, the Texas-based company has been focused on solving the most critical challenges facing industries such as energy, manufacturing, logistics, financial services, aviation, and more. The company provides AI, ML, and natural language processing solutions tailored to customers' individual needs. With its wide knowledge base, 120+ patents, and a remarkable research team, the company focuses on advancing the science of AI and continues to lead both commercial and experimental innovations.

SparkCognition