• Canvass Analytics, a Canada-based industrial AI solutions provider, has been granted a patent from the US Patent and Trademark Office (USPTO) for its industrial AI platform.

• The patented new tech enables users to efficiently utilize collected data in everyday operations by providing time-series forecasts to make adjustments to their processes and assets real time. 

• This system is said to be more beneficial for industries like oil and gas, chemicals, and metals and mining, where delays can significantly affect process outcomes.

 <ul><li> Analyst QuickTake: Most companies in the data analytics and predictive maintenance space focus only on the assets. However, predictive maintenance for processes is identified as equally important. With this new patent, Canvass Analytics would be able to expand its market reach by catering to companies in industries that are more process-focused. Element Analytics and Sight Machines are similar companies that target both assets and processes. On a separate note, Canvass also launched its platform in the Azure marketplace earlier this year, allowing engineers without any data science knowledge to use the platform. This, combined with the new patent, could further improve the overall usability of the platform.</ul>