Transforming construction: AI for zero downtime
Trackunit generates real-time data insights to the construction sector. Following the rapid progress of widespread Gen AI technology, Trackunit has leveraged its own rich data lake to drive internal efficiency and enhance its products, helping customers optimize machine utilisation, improve safety and ultimately reduce downtime across the global construction ecosystem.
Trackunit serves as a prime example of how our data-rich workflow software businesses are capitalizing on their structural data advantage through AI, systematically extending the customer proposition. Hg’s Data & AI team has been delighted to support them on this journey, from setting up their data foundations, to the final steps of implementing composite AI.
In 2024, after over five years of focused execution, Trackunit launched IrisX - the first open and scalable industry cloud platform for construction to collaborate, integrate and build useful solutions.
Discover Trackunit’s forward thinking approach to leverage AI for industry transformation.
Vertical AI - Accessing Trackunit’s Data Lake
Trackunit’s transformational AI capabilities are powered by a vast data lake, populated with real time operational data, aggregated, cleaned, harmonized and enriched by business data.
With a scalable serverless architecture that powers actionable insights across trillions of data points, customers can build applications with product SDKs to use internally or market to an industry leading ecosystem.
Solving a complex challenge
“Together, we will eliminate downtime to build the most useful industry for the world”
In construction, no two job sites are the same. Each is a unique combination of processes, stakeholders, and assets, spun from scratch in a different configuration each and every time, operating in a real-world environment that is often dangerous, unpredictable, and changes daily. This complexity increases downtime, risk, and cost.
Across a $13 trillion industry, we are at an inflection point where technology can solve complexity by unifying the industry and foster shared value through a secure and scalable platform.
Driving industry transformation - IrisX
The business’s solutions allow users to collect and analyze machine data in real-time to deliver actionable, proactive, and predictive information, empowering customers with data-driven foresight. This ranges from operator safety and machine health to business optimization.
With deep access to an already scaled platform that has been continuously developed and updated since 2018, Trackunit’s IrisX solution integrates multiple AI capabilities based on open-source and proprietary models, powering drastically faster and more accurate data analysis to streamline operations.
IrisX enables advanced workflow automations to improve business processes at scale. By combining AI capabilities with a customer’s entire IT infrastructure, it powers new automations, such as using real-time data from a machine returning from a rental to automatically create a maintenance ticket in its owner’s service cloud.
Driving industry transformation - IrisX
IrisX is only possible due to Trackunit’s unique business model. The new product capitalises on their established capabilities, something competitors would be hard pressed to replicate.
IrisX in action
For equipment manufacturers, IrisX can empower data driven insights to improve inventory forecasting and analytics, leverage upcoming services to proactively stock spare parts and launch aftermarket sales campaigns and facilitate upsell of extended warranties and derive further sales of genuine parts.
For rental companies, Trackunit's IrisX tool offers unparalleled LLM-driven insights that would otherwise require extensive deep-dive analysis. With IrisX, rental companies can quickly identify their most underutilised lots and machines. This powerful tool processes millions of data points in seconds, providing actionable insights that enhance operational efficiency and asset utilization.
Becoming an industry leader
Over the past decade, Trackunit has experienced remarkable global expansion, resulting in a more than tenfold increase in connected assets since 2016. Today, they collect approximately 2 billion data points daily. Their proprietary offerings set them apart as leaders in their industry.
About Trackunit IrisX
Trackunit is a leading SaaS-based IoT solution and machine insights provider to the global construction equipment industry. Trackunit collects and analyzes machine data in real-time to deliver actionable, proactive and predictive information, empowering customers with data-driven foresight.
Trackunit promises to lead the technology engagement to help eliminate downtime. The ambition of this mission is not only to recover from budget and schedule overruns, but also to re-establish the reputation of the industry for innovation and leadership.
From operator safety and machine health to business optimization, Trackunit’s industry-leading telematics software, hardware and fleet management services benefit the everyday operations of customers worldwide. Trackunit services its customers directly from its headquarters in Denmark and Chicago, IL and through subsidiaries in Sweden, Norway, France, Holland, Germany and England.
1998
Founded
2021
Partnered with Hg
Denmark
Country
Automation & Engineering
Category