Foxconn Industrial Internet (Fii) Named One of 50 Smartest Companies in Year 2019 by "MIT Technology Review"

SHANGHAI, July 2, 2019 /PRNewswire/ -- Foxconn Industrial Internet (Fii), a leading intelligent manufacturing service and solution provider, has been named by MIT Technology Review as one of the world's top 50 smartest companies (MIT TR50) along with other global innovation pioneers including Microsoft, Qualcomm, Tencent and Tesla.

The members of TR50 list have been reckoned as" Best Innovative Technology Companies with An Effective Business Model." MIT Technology Review has ranked of "50 Smartest Companies" among high-tech companies around the world based on their outstanding innovation and technological breakthroughs for nine consecutive years.

MIT Technology Review explained that "Fii has developed Fog AI, a human hindbrain model-based smart technological pivot specially used in manufacturing. Taking its application in SMT assembly as an example, it can help reduce production costs by over 60 percent through real-time prediction, monitoring and accurate control over the manufacturing process, by integrating software analysis, collecting data via sensors and building data models.

Recently, Fii announced the launch of a new cloud-based service solution for the manufacturing sector, Micro Cloud, on its first anniversary of its public listing in Shanghai on June 29, while setting the goal of fueling the smart transformation of the manufacturing sector by delivering fully integrated intelligent manufacturing solutions.

"Micro Cloud is a solution and application platform based on Foxconn's 45 years of manufacturing experience as well as one that is centered around specific issues facing the manufacturing sector," said Fii deputy chairman Jay Lee. "In the past, the manufacturing sector had been hindered by the fragmentation of the production, management and operation of manufacturing facilities and the lack of integrated solutions. This platform is designed to transform the landscape of the sector by providing intelligent manufacturing facilities with 'process engines', allowing customers to improve product quality, reduce production costs and accelerate delivery of products in an environment where no materials would be wasted."

Taking computer numerical control (CNC) machines as an illustration: to address the issues associated with CNC machines, including lack of visualization, process feedback, warnings when abnormalities appear in the production process and science-based decision-making, Fii CNC cloud assists administrators in making decisions and adjusting parameters in time based on the results from data acquisition and analysis as well as from algorithm-based analysis in addition to providing connections to devices and visualized management, among other features, with the aim to maximize the performance of manufacturing equipment and maintain a high level of sustainability.

"With over 1,800 surface mount technology (SMT) production lines and 175,000 CNC machines as well as extensive experience and advanced technologies, Foxconn creates standardized and systematic intelligent manufacturing solutions through the industrial internet," Jay Lee underlined.

With the launch of Micro Cloud, Fii revealed its fully integrated ecosystem strategy. At the invitation of the company, 30 partner companies attended the summit held in Shanghai meant to commemorate the first anniversary of the company's public listing in the A-share market. At the event, the company unveiled the Fii Smart Manufacturing Ecosystem together with its participating partners.

To build Fii's Manufacturing Ecosystem, it's dedicated to create an industrial internet platform by leveraging equipment, tools and materials as well as industry-grade software, big data and artificial intelligence while integrating innovative resources from its partners, including cutting-edge technologies, solutions and research outcomes. The aim is to build a complete Micro Cloud ecosystem that can address all issues throughout the manufacturing process and to deliver easy-to-use, out-of-the-box, sophisticated intelligent solutions for promoting the intelligent transformation and upgrade of the manufacturing sector. By doing so, Fii's Smart Manufacturing Ecosystem will enable industry-wide upgrades by providing all manufacturers with a one-stop digital intelligent solution.

"The company has been committed to providing the global manufacturing sector with the best path to intelligent transformation by delivering integrated innovative models and fully integrated solutions", stated Fii CEO Brand Cheng.

In addition, Fii's developing result in smart manufacturing has been highly recognized by World Economic Forum (WEF). Fii's lights-out factory was shortlisted as one of WEF's 16 "Global Manufacturing Lighthouse Factories" network in January 2019. This title aims to honor the advanced manufacturing facilities that have taken the lead in the global manufacturing sector by delivering outstanding performance in terms of the application and integration of cutting-edge technologies that have emerged during the fourth industrial revolution.

SOURCE Foxconn Industrial Internet