Tacton Awarded Vinnova Grant to develop Machine Learning Capabilities
STOCKHOLM, Sweden and CHICAGO, IL - October 17, 2019 - Tacton Systems has been awarded an innovation grant by Vinnova, Sweden’s Innovation Agency to develop its Artificial Intelligence (AI) capabilities including Machine Learning (ML). For this project, Tacton has partnered with ScaleOut, a tech startup from Uppsala, Sweden specializing in the application of Machine Learning solutions. This collaboration aims to combine Tacton’s expertise in providing Smart Commerce solutions for manufacturers and Scaleout’s platform for developing ML capabilities and prototyping AI capabilities.
There is a wide range of practical applications of ML in manufacturing. For example, when creating a quote of a complex product, ML will enable manufacturers to not only configure the product (something the AI-powered Tacton CPQ already does quite well) but also it will be able to store data from past configurations and recommend a more optimal solution. This can also be applied to smart pricing, where changes in stock levels and on exchange rates can automatically be factored into the price. Ultimately it enables manufacturers to create a Smart Commerce experience and providing a superior customer experience to its customers.
“This research project will enable us to innovate and prototype new products and solutions,” Thorbjörn Frisk, Chief Technology Officer - Tacton. “We are looking forward to collaborating with Scaleout who will bring in new perspectives and way of working with AI and ML. I wanted to thank Max Leitgeb, Senior Product Manager, for running the project, and Vinnova for their support. These are exciting times for the team, and we can’t wait to get started.”
The grant aims to develop a prototype for a Machine Learning focusing on manufacturers as a way to promote a wide application of AI and ML in the industry. The grant is primarily focused on innovative and practical applications of Machine Learning. The project will start on October 2019 and will continue well into 2020.
About Tacton Systems: Tacton enables Smart Commerce for manufacturers by empowering organizations to extend beyond traditional commerce. Tacton Smart Commerce ensures manufacturers always offer optimal solutions to their customers throughout the entire B2B buyer journey. Our industry expertise and leading technology enable a seamless customer experience. Tacton provides solutions to our global customers such as ABB, Bosch, Caterpillar, Daimler, MAN, Mitsubishi, Siemens, Toshiba, and Yaskawa. Tacton is headquartered in Chicago, Illinois, and Stockholm, Sweden, with regional offices in Karlsruhe, Germany; Warsaw, Poland; and Tokyo, Japan.