Closed factories, interrupted flow of goods - the coronavirus is shaking up global supply chains: Prewave’s “Coronavirus Disruption Map” makes broken supply chains visible for corona hotspot areas
A spin-off of the Vienna University of Technology registers a surge in demand from industry and logistics - the startup offers a free public version of its "Corona Virus Disruption Map" on its website
Prewave technology uses artificial intelligence to analyze huge amounts of data from news media, social media and from industrial partners in over 50 languages
2nd April 2020: Prewave, a Vienna-based startup that has developed a technology for managing risks in supply chains with artificial intelligence, is offering it’s unique "Corona Virus Disruption Map" to the public. This map shows the effects of the coronavirus pandemic in industrial supply chains and currently focuses on hotspots important for industrial production such as China, the USA, India and in Europe on Austria, Germany, Italy, Spain, France and Great Britain. The warnings for supply chain interruptions are generated with the help of artificial intelligence on the basis of huge amounts of data from news media, social media and messages from industry and logistics. Reports on the spread of the coronavirus and quarantine areas are also taken into account in order to identify risks at an early stage and provide predictive analytics on broken supply chains. Prewave already collaborates with large companies from the automotive, chemical, metal and electronics industries and is currently receiving many inquiries from companies that want a better overview of their supply chains.
Many companies face unprecedented challenges in this crisis. Therefore, Prewave has made its basic version of the Coronavirus Disruption Map available to the public free of charge. Harald Nitschinger, co-founder of Prewave, says: “In this crisis, everyone can make a contribution. We have therefore made our Coronavirus Disruption Map available for free to the general public and thus to offer insights on the impacts of the COVID-19 pandemic, which so far only our customers have been able to gain. Information and transparency are currently important for companies and that is exactly what we offer - fast and focused!"
Prewave's artificial intelligence is based on 5 years of research
Prewave's technology is based on 5 years of research at the Vienna University of Technology and has been continually developed further by co-founder Dr. Lisa Smith since the Prewave was founded as a spin-off in 2017. The company's goal is to better manage risks in supply chains using artificial intelligence. The warnings on broken supply chains are based on huge amounts of data that come from news media, social media and from suppliers themselves and are evaluated with the help of artificial intelligence in over 50 national languages. Prewave customers receive warnings for their suppliers and for certain risk factors such as workers' unrest, political uncertainties, financial or legal problems or the effects of the corona virus. Many companies have supply chains with thousands of suppliers spread all over the world. Thanks to the Prewave solution, companies can monitor their supply chains in real time.
“With the Coronavirus Disruption Map, we are making the major problems in the global supply chains visible and this is our contribution to overcoming this crisis. We support our customers, but we also offer the public a unique real-time view of supply chain problems”, says Lisa Smith, Co-Founder of Prewave.
The Corona Disruption Map can also be reached directly at: https://covid19.prewave.com
Photos of the founders Harald Nitschinger and Lisa Smith as well as the "Corona Disruption Map" as a download: https://www.dropbox.com/sh/vs5c7jebij8ls7k/AACxkw4ULHAZA2dsrcv7-Njla?dl=0
Prewave was founded in 2017 as a "spin-off" of the Vienna University of Technology by Dr. Lisa Smith and Harald Nitschinger. Prewave's customers include manufacturing companies from the automotive, chemical, metal and electronics industries as well as large transport and logistics companies.
More information about the company: https://www.prewave.ai/
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