Today’s Enterprise Asset Management(EAM) is moving towards the digitalisation of Asset Management and Planning. The average age of assets continues to increase with ‘uptime’ being the deciding factor for the organisation’s Asset Management strategy’s success.
With IoT enabled assets, organisations can have live, continuous and detailed visibility into almost all the physical assets and their performance. The data from connected devices combined with cloud technology, mobile devices, and mobile applications are providing real-time visibility. Data from assets is being analyzed to provide actionable insights, which is where asset intelligence’s biggest value lies.
AI and ML can be used to derive useful insights from the data. When delivered to the right person at the right time, these insights lead to better and timely decisions. Pin-pointing high-risk assets and prioritising their maintenance leads to an increase in asset reliability while maximising asset performance.
All the technological advancements lead to the major question: Are your EAM strategies competent enough to provide the competitive edge for your organisation? Have you been able to harmonise old machines and IT systems with current technologies? Is your code-geek IT department integrated with the experienced but ageing maintenance team?
At the EAM NXT 2020, industry leaders come together to discuss three key issues:
1. Digital Transformation: IOT-enabled Assets and Data-driven insights with AI and ML.
2. Strategic Asset Management: Asset health, security and investment decisions.
3. Competence Development: Employee skills, training and integration of IT and operations.