Design software maker Autodesk is partnering with Nutonian, a machine intelligence company that can help it interpret Internet of Things (IoT) data, the companies announced Tuesday.
Per the agreement, Nutonian's artificial intelligence modeling engine, called Eureqa, will be embedded in Autodesk's IoT cloud platform, Fusion Connect. Eureqa uses raw data to design the simplest possible predictive models that can be used for functions like predicting product failures or identifying product design flaws. Once it's powered by Eureqa, Fusion Connect will use dashboards and end-user alerts to explain what's happening.
At a cost ranging from $6,000 to $12,000 a year, Autodesk promises that the Eureqa-powered platform could save a manufacturing business more than $100,000 when compared to hiring a data scientist.
"As we continually enhance our cloud capabilities, the logical next step was broadening and deepening our IoT predictive and prescriptive solutions," said Autodesk Director of IoT Bryan Kester in a statement.
Autodesk has indeed been busy bolstering its cloud portfolio over the last few years. The company has hit some rough spots as it transitions to a subscription-based service model but saw better-than-expected financial results for its second quarter. The industrial IoT of course offers plenty of potential for Autodesk: Accenture estimates it could add $14.2 trillion to the global economy by 2030. A recent Honeywell survey showed that most manufacturing and industrial executives plan on increasing their investments in data analytics even as they delay other tech investments.