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Rutronik acquires stake in AI specialist collective mind
Rutronik Elektronische Bauelemente GmbH, one of Europe's leading broadline distributors of electronic components, is acquiring a 30 per cent stake in collective mind GmbH, an expert in machine vision applications in the AI environment. The companies are thus combining their strengths in component distribution with automated image processing for future-oriented AI solutions tailored to industry and trade.
Artificial Intelligence (AI) applications and tools are increasingly penetrating entire industries and the business world. AI tools offer potential for the German corporate structure, which is characterized by medium-sized companies. As a distributor for many SMEs in Germany, Europe and beyond, Rutronik aims to play a pioneering role with this investment. As a result of the tense economic situation, SMEs, and thus many Rutronik customers, are under increasing cost pressure. Efficiency and productivity are therefore becoming increasingly important.
Insight into AI-supported image processing in the use case logistics with > 100,000 parts
Rutronik has already initiated further international AI development projects to optimize process chains in the distribution sector. Specifically, AI-supported image processing is being used in logistics with the new partner collective mind to accelerate the growing demand for traceability at product level. Logistics experts expect that the scanning technology currently in use will be supplemented or even replaced by camera technology in the future. Rutronik, with its more than 100,000 electronic components and the associated variable capture data, is ideally suited as a use case for testing this development. The aim of the two companies is that the developed logistics AI application will able to automatically and correctly recognize the information, even if the formats and arrangements of the product data on the corresponding product labels change, without having to adapt the software. The first pilot of the development is already running at Rutronik's largest logistics center in Eisingen near Pforzheim, Germany.
"We are joining forces with Rutronik with the aim of offering internationally scalable software and hardware solutions developed from a single source for AI applications in retail and industry, among others, based on the regional ties between our two companies," says Artur Hefner, one of the Managing Directors of collective mind with a focus on operations and finance.
"Especially in these difficult economic times, we want to send a signal from southwest Germany to decision-makers and other entrepreneurs in Germany and Europe. We want to encourage them to tackle the economic upturn together by focusing on strategically considered investments and by joining forces," says Thomas Rudel, CEO of Rutronik, summarizing the background to Rutronik's investment.
About Rutronik Elektronische Bauelemente GmbH
Rutronik Elektronische Bauelemente GmbH was founded in 1973 and is an independent family-owned company. Thanks to the positive economic development over the past 45 years, the company is now one of the world‘s leading broadline distributors. In the 2021 fiscal year, its more than 1,800 employees generated a turnover of 1.13 billion Euro. Rutronik is represented worldwide with more than 80 offices and can guarantee comprehensive customer support including Europe, Asia, and the USA.
The broad product portfolio includes semiconductors, passive and electromechanical components as well as embedded boards, storage & displays, and wireless products. The know-ledge of all product areas is bundled in the RUTRONIK AUTOMOTIVE, RUTRONIK EMBEDDED, RUTRONIK POWER, and RUTRONIK SMART divisions and both specific products and services tailored to the respective applications are offered. Competent technical support for product development and design-in right up to the research area, individual logistics & supply chain management solutions as well as comprehensive services complete the range of services. Customers also have access to the Rutronik24 e-commerce platform, where all articles can be found, as well as a procurement area and product change notifications. Further information is available at www.rutronik.com.