Investor Relations

Altair provides data analytics and AI technology to optimize NYYC American Magic team's performance

TROY, Mich., Feb. 14, 2023 /PRNewswire/ -- Altair (Nasdaq: ALTR) announced it has been named the official computational science and artificial intelligence (AI) partner for the New York Yacht Club American Magic, challenger for the 37^th America's Cup. Altair will provide the team with software technology, consulting services, and two "work streams" to improve boat and sailor performance. The work streams include a predictive data analytics system to analyze and understand sailing vessel performance and a custom-made "AI bot" to enable the control and monitoring of sailboat simulations.

"Working together with NYYC American Magic showcases both our technological and consulting expertise," said James R. Scapa, founder and chief executive officer, Altair. "We believe our tools and our people are some of the world's finest resources, and we're fortunate to work alongside an organization that believes in using the latest in AI, machine learning, and data analytics in new, exciting ways."

The first work stream, composed of robust data analytics capabilities, allows the NYYC American Magic team to observe and break down past race performances to see how the team can improve future performances. The technology helps analyze boat velocity given course conditions and boat/sailor maneuvers to determine optimal race strategy and see how to translate past success into future success.

The second work stream, the "AI bot," gives the NYYC American Magic team unprecedented race simulation power to optimize vessel and sailor performance through virtual test runs that mirror real-life racing conditions. The results of the AI bot's reinforcement learning approach give a quick, effective, and accurate way to simulate various and multiple race conditions and cut down the need for physical testing and prototyping. In addition, the AI bot generates data from simulations so the team can analyze it to improve times, sailor maneuvers, race strategy, and boat components.

"Our team is thrilled to be working with Altair, and the partnership demonstrates American Magic's commitment to staying on the cutting edge of technology," said Mike Cazer, chief executive officer, NYYC American Magic. "Our team uses the industry's latest and greatest to stay on top of the competition and keep our organization at the forefront of technology."

In a competition like the America's Cup, when vehicles and race teams are already operating to near perfection, finding fast, effective new ways to innovate and eliminate wasted time and material is an invaluable competitive advantage.

About Altair

Altair is a global leader in computational science and artificial intelligence (AI) that provides software and cloud solutions in simulation, high-performance computing (HPC), data analytics, and AI. Altair enables organizations across all industries to compete more effectively and drive smarter decisions in an increasingly connected world – all while creating a greener, more sustainable future. For more information, visit https://www.altair.com/.

About New York Yacht Club American Magic

American Magic is building the high-performance sailing franchise in the United States with a dual mandate to win The America's Cup and elevate sailing in America. Formed in 2017, New York Yacht Club American Magic combines two highly successful American racing programs, Bella Mente Racing and Quantum Racing, with one of the most prestigious yacht clubs in the world. All are united by a determination to regain the America's Cup, reconnect the American sailing base with the premier event in the sport, and elevate the quality of competitive sailing in the United States.

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SOURCE Altair