News

Mitsubishi Electric Fund Backs AI PLM Startup Things

Mitsubishi Electric Corporation will invest in Things, Inc. This Japanese startup focuses on AI-assisted product lifecycle management (PLM) systems. The investment, made through the company’s ME Innovation Fund, marks its twelfth to date. Things developed "PRISM," a PLM platform. Launched in May 2023, it uses generative AI. This makes it easier to manage documents and information throughout a product's lifecycle. This includes everything from planning to disposal. This partnership combines Mitsubishi Electric Corporation's manufacturing and control skills with Things' AI strengths. Together, they aim to boost digital transformation (DX) in the industry. The move responds to tough challenges in Japan’s manufacturing sector. These include labor shortages and fewer skilled technicians. As a result, adopting efficient DX tools is now more urgent than ever. Also Read: PlantStream Unveils ACCE Integration Package…