On December 13, 2017, Mitsui & Co., Ltd. joined an AI Business Promotion Consortium led by GRID Inc., a developer and provider of artificial intelligence (AI) technology.
After acquiring an equity stake in GRID in March 2017, Mitsui has been taking steps towards the creation of IoT business solutions for industries which combine ReNom, an AI framework developed by GRID, and the PI System from U.S. company OSIsoft, LLC*, who Mitsui invested in 2016.
It is thought difficult to carry out solution development independently to promote digital transformation of companies and organizations for the utilization of AI in actual operations. Mitsui & Co.'s participation was in response to the consortium's establishment aims of enhancing various service development and AI applications in Japan, and each member company sharing their knowledge and examples of AI.
Mitsui & Co will continue to promote digital transformation at each of the Mitsui Group's business assets, partners, and important customers through the activities of this consortium, which is participated in by OSIsoft Japan K.K. as well as Mitsui Knowledge Industry Co., Ltd.
Corporate Profile of AI Business Promotion Consortium
|Official Name||AI Business Promotion Consortium|
|Date of Establishment||December 13, 2017|
|Aims||Development of AI, application of AI to real business, promotion of the development and penetration of AI services|
|Managing Company||GRID Inc.|
(A total of 11 companies as of December 13, 2017)
|Mitsui & Co., Ltd., Mitsui Knowledge Industry Co., Ltd., OSIsoft Japan K.K., ITOCHU Corporation, ITOCHU Techno-Solutions Corporation, GRID Inc., Zero to One Co., Ltd., TIS Inc, Fujitsu Limited, Marubeni Corporation, Marubeni Information Systems Co., Ltd.|
*OSIsoft, LLC: A global leader in the sales and development of IoT (Internet of Things)/M2M (Machine to Machine) data management software for industry.