Canvass Analytics Named Finalist in Prestigious Global Awards for Steel Excellence

TORONTO - July 22, 2020 - PRLog -- Canvass Analytics Inc., a leader in industrial AI, is pleased to announced that it has been named a finalist in the 11^th annual Fastmarkets Global Awards for Steel Excellence. The awards set out to highlight world-class innovation and excellence in steel and the related industries for companies and key partners throughout the steel supply chain.

"As one of the most prestigious and recognizable awards programs for the global steel industry, the Fastmarkets Global Awards set out to showcase international talent and customer-centric solutions," said Alex Harrison, editorial and pricing director, metals and mining, for Fastmarkets.

Canvass Analytics has been nominated for the Technology Provider and IT Services Provider of the Year categories, recognizing how Canvass's AI platform is driving innovation in the steel manufacturing industry. By utilizing Canvass AI, steel manufacturers have improved product quality, reduced energy consumption, and lowered operating costs - key benefits that will be essential in the post-COVID operating environment. A recent survey of 100 manufacturers by Canvass Analytics found that 54% said operating costs increased or significantly increased and 43% said operational effectiveness decreased or significantly decreased due to the COVID-19 operating restrictions. As a result, 68% will now invest in AI within the next two years.

"This latest industry recognition highlights the dedication of the Canvass team to achieving our vision of transforming the way companies use data to positively impact the world's productivity, sustainability, and human livelihoods. This award reinforces our focus on empowering manufacturers to productionize AI quickly and at scale across their day-to-day operations," commented Humera Malik, CEO of Canvass Analytics.

Unlike other AI solutions, Canvass AI is developed specifically for complex manufacturing processes involving high volumes of data from multiple sources. It automates the data connection and visualization process, enabling process engineers to quickly apply AI models to their day-to-day operations – without requiring coding skills. By operationalizing machine learning, Canvass AI continuously trains the AI applications, empowering operations teams to forecast yield, optimize processes, detect anomalies, predict defective parts and failures, and simulate what-if scenarios quickly and at scale. To learn more visit http://www.canvass.io