Swedish bearings manufacturer SKF said it will pour $39.3 million into expanding and automating processes at the group's factory in Sumter, South Carolina.
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Presenso is a company that develops and deploys artificial intelligence (AI)-based predictive maintenance software.
Presenso's AI capability enables production plants to find and act on anomalies that were previously difficult to detect, automatically and without the need to employ data scientists.
The announcement comes immediately following the departure of SKFs current CFO, Christian Johansson.
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