The company says the investment is design to provide access to an ecosystem of innovators and technology start-ups with a focus on applications of artificial intelligence to industrial automation.
As industrial companies use more software in their operations, there are many new opportunities to introduce AI into the sector.
Rockwell Automation says its goals include co-creating to solve customer problems, accelerating innovation, and identifying new emerging technologies that can help its manufacturing customers improve business performance by bridging the gaps between plant-floor and higher-level information systems.
Elik Fooks, senior vice president for corporate development at Rockwell Automation, says: “Smart manufacturing requires the use of new and disruptive technologies such as AI to create the future industrial plants and supply networks that are flexible, efficient, responsive, and secure.”
Fooks adds: “AI can help manufacturers unlock data, contextualize it, and take action.
“We continue to create partnerships with leading innovators, such as this one with The Hive, to further advance ‘The Connected Enterprise’, our vision for realizing unprecedented industrial productivity from the integration of plant and enterprise operations.”
T.M. Ravi, managing director and co-founder of The Hive, says: “Rockwell Automation’s investment in The Hive will provide it with earlier visibility to AI technology from companies fostered by The Hive’s technology team.
“These include AI-powered applications for the cognitive enterprise, edge intelligence, security, and smart machines.”
The Hive, based in Palo Alto, California, identifies new AI based opportunities with great growth potential, and based on these opportunities co-creates, funds, and launches startups with substantial operational and technology support.
Rockwell Automation, the world’s largest company dedicated to industrial automation and information, makes its customers more productive and the world more sustainable.
Headquartered in Milwaukee, Wisconsin, Rockwell Automation employs approximately 22,000 people, serving customers in more than 80 countries.