Using Artificial Intelligence, the Industrial Internet of Things, and extensive industry knowledge, Praemo is redefining how organizations operate. The company believes that shifting from traditional operating and business models to one that exploits the IIoT and advanced tools like AI is critical to remain competitive in a data driven world. Thus, it has built an analytic engine technology for businesses to predict and pre vent disruptions to their operations.
Let’s find out how Praemo is help businesses stay ahead of disruptions to their industrial operations, in an interview conducted between CIO Look and Paul Boris, the EVP and CRO of the company.
Please brief our audience about your company, its values, vision, and mission.
Praemo was founded to solve the tough problems faced by manufacturing, and industrial operations. This means delivering more up-time, better quality, improved compliance, and lower emissions in an ever more complex technology environment. To make this happen, our exceptional team of subject matter experts has built disruptive technology and has been recognized as a leader for diversity in the workplace.
List the prominent products/solutions/services that your company offers, which make you stand out from the competition. (TM)
Praemo has built an analytic engine called Razor, that exploits the data and systems industrial operators already have, using it as-is, where-it-is, without the need for costly data harmonization or team bandwidth that e very other approach requires. As a result, companies extract more value faster from the tools, technology and money they’ve already deployed, and can remove cost and disruption from their operations.
Being an experienced business leader, what is your opinion on the adaptation of newer technological developments to sustain your organization’s market competency?
Industrial operations, despite their aggressive focus on Smart Manufacturing and Industry 4.0 are notoriously slow to deploy the latest technologies broadly, and rightly so. Pushing new solutions into operations creates waste. Technology that brings distinct and sustainable value, while avoiding disruption is often pulled into operations by forward thinking teams. And while it’s critical that technology providers stay ahead of the curve, understanding how industrial operations consume new technologies like AI and Machine Learning is the difference between delivering tools that bring value and the “shiny new object” that sits on the shelf unused. Technical expertise is key, but so is deep domain knowledge coupled with understanding how these companies transform.
Taking into consideration, the current pandemic, and its impact on global economies, how are you driving your organization to enhance operations and ensuring safety of your employees at the same time?
Safety of our team and those with whom we’re in contact is critical. We closely followed guidance on workplace safety and have used video calls extensively. Oddly enough, we’ve seen customers benefit in a number of ways. Because we consume data in its rawest form, with no preparation or definition from local teams, we’ve been able to conduct all our projects remotely. But more importantly, the pandemic has created excessive demands on smaller teams. The ability to make better use of the data and systems companies already have, in order to provide advanced warning to downtime, disruptions, quality issues or process deviations is literally like adding heads to an operation without the costs – it virtually expands the team’s ability to produce more effectively. All without us ever being on site.
What would be your advice to the emerging entrepreneurs aspiring to make an impact on the world of business?
There’s no magic. It’s about going deep on the issues that keep your target market from performing at their peak, and then building a great team that delivers value. Leaders need to do the difficult work, and build up those around them in any number of ways. If you can develop a skill stack consistent with that notion, you will be successful.
Where do you envision your organization to be in the long run and what are your future goals?
Our goals are to continue to expand our base and simplify the deployment of our analytic engine. The keys to that are first delivering value for the customer, and second, building exceptional teams internally and at those customers. We are in an untapped space, where our competitors are still focused on push vs pull, building large organizations that then do things, instead of exposing value and building the teams to harvest it. The market opportunity for us is massive, and the gains customers will see will be orders of magnitude beyond that.
Give us a few testimonials of your clients that accurately highlight your organization’s position in the market.
We’ve had CEO’s in lean operations tell us that we’ve cut their lead times in 1/2, process engineers tell us that they were shocked we could take a raw data dump with zero prep on their part and make any sense of it let alone mine valuable insights from it – so from the executive suite to the front line of the operation, our customers see tremendous value in an incredibly short period of time.
About the Leader
Paul Boris has driven digital transformation within industrial operations for decades. He’s considered a leader in manufacturing technology deployment, digital transformation and Industry 4.0. Over his career of more than three decades in manufacturing, he has run industrial operations, worked with the world’s largest organizations as a Global VP at SAP and as the CIO for Advanced Manufacturing Strategy at GE, and led the development of industrial wearables and AR as the COO of Vuzix. He currently advises startups focused on AI and Advanced Robotics.