PartSpace AI

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PartSpace is a provider of a data analytics software platform that uses AI to optimize the procurement of drawing-based components. Its software PartSpace AI interprets technical drawings at expert level, fully automatically analyzing design data and identifying previously hidden potential savings. This allows industrial companies to reduce their procurement costs, save time and strengthen their position in the global market. Savings of over 10% in technical procurement are possible. PartSpace AI allows users to streamline processes and save significantly on the procurement of drawing-based components. The AI model employed, was developed specifically for technical purchasing. Unlike traditional AI systems, which primarily rely on text or ERP data, the AI model has been trained to recognize relevant features in CAD drawings and 3D models, including dimensions, tolerances, materials, and post-processing methods. The AI automatically analyzes, structures, and links this information with historical purchasing data and external market information. It recognizes how a component can be manufactured, which production processes are suitable, and what the realistic target price is. The result is a digital assistant that processes technical data automatically and evaluates it strategically. The resulting structured data enables a wide range of applications, including strategic purchasing, cost engineering, supplier benchmarking, standardization, and quality assurance. PartSpace AI can calculate realistic target prices and identify suitable suppliers or detect duplicate components through similarity analyses. These capabilities enable the bundling of variants and the targeted leveraging of volume effects. By pairing deep engineering knowledge with AI, PartSpace is making technical purchasing smarter, safer, and more sustainable, demonstrating its position as a pioneer in AI-driven engineering. Its customers include Siemens, Krones, and Horsch.