The Start-Up Using Machine Learning to Help Big Business
*By Michael Teich*
Uptake, one of America's [fastest growing](https://pitchbook.com/news/articles/the-11-fastest-us-startups-to-a-2b-valuation) tech start-ups, is tapping into artificial intelligence to launch the industrial world into the modern era.
Outdated technology and the absence of crucial data is failing many companies in the sector, but machine learning could be the solution to stronger profits, said the company's president Ganesh Bell.
Bell hopes his firm, which analyzes data then issues recommendations to construction companies, can educate his clients.
"Imagine a world where every citizen in the world actually posts their status on Twitter or Facebook every second of the day, no matter what's happening, and nobody was listening. That wouldn't be fun. That's really what's happening in the industrial world," Bell said Tuesday in an interview on Cheddar.
Bell stressed that today as little as 1 percent of data available from industrial machines is being used, and that underutilization leads to premature breakdowns.
Taking note of this inefficiency, Uptake acquired Asset Performance Technologies, a company that can unlock over 20 years of data, Bell said. He added that Uptake can identify "55,000 ways of achieving a break."
"We predict when machines are going to need service, when they are going to fail based on machine learning and A.I. These are all industries like power, energy, oil and gas, construction," he said.
All of this is positive for the bottom lines of companies like Caterpillar and Berkshire Hathaway Energy, with which Uptake partners.
But Bell said consumers also should also be optimistic about Uptake's technology because of its impact on the environment.
"As consumers, we all care about a green world," Bell said. "We're helping them reduce carbon emissions."
For full interview [click here](https://cheddar.com/videos/using-a-i-to-modernize-the-outdated-industrials-industry).
Astronauts will have to wait until next year before flying to the moon and another few years before landing on it. NASA on Tuesday announced the latest round of delays in its Artemis moon-landing program.
The Biden administration has enacted a new labor rule that aims to prevent the misclassification of workers as independent contractors. The labor department rule going into effect Tuesday replaces a scrapped Trump-era standard that lowered the bar for classifying employees as contractors
The KC-46 was to be the ideal candidate for a fixed-price development program. Instead, it has cost Boeing billions, and made industry wary of such deals.
Dave Long, CEO and Co-Founder of Orangetheory Fitness joins Cheddar to chat trends in the industry for 2024. He updates us on the company's plans to expand and what the state of the economy has meant for business.
One of the world's largest renewable energy developers will be getting hundreds of wind turbines from General Electric spinoff GE Vernova as part of a record equipment order and long-term service deal.
A moon landing attempt by a private US company appears doomed because of a fuel leak on the newly launched spacecraft. Astrobotic Technology managed to orient the lander toward the sun Monday so its solar panel could capture sunlight and charge its onboard battery.
Treasury Secretary Janet Yellen has announced that 100,000 businesses have signed up for a new database that collects ownership information intended to help unmask shell company owners. Yellen says the database will send the message that “the United States is not a haven for dirty money.”
A new version of the federal student aid application known as the FAFSA is available for the 2024-2025 school year, but only on a limited basis as the U.S. Department of Education works on a redesign meant to make it easier to apply.
