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- Looking into AI asset performance management for renewables? It’s all about the dataA few weeks back we began exploring the role of Asset Performance Management (APM) systems and their impact on renewable power generation. To gain further insight into this technology, we turn once again to a recent Avathon analyst interview in which this relationship was investigated in depth. Although the many benefits of artificial intelligence (AI)
- Can normal behavior modeling optimize asset performance?The goal of any company is to employ assets to maximize production and revenue. So it’s crucial to manage expenses by minimizing routine or unscheduled maintenance. It all boils down to increasing the useful life of expensive capital equipment. Historically, these goals have been pursued using condition-based monitoring (CBM) solutions or OEM-provided asset management tools.
- How can AI minimize critical drilling rig failures?Offshore drilling is an expensive business. Downtime can make those costs balloon exponentially. According to research firm Kimberlite, the average offshore drilling rig experiences 27 days of unplanned downtime annually, resulting in about $38 million in losses. Companies are beginning to look to rig maintenance powered by artificial intelligence to drive down these costs.
- Asset performance management systems utilize AI to power renewable solutionsArtificial Intelligence (AI) technology has delivered a wide range of compelling benefits to industry, arguably the most impactful of which has been the ability to predict the failure of expensive assets and prescribe actions that can mitigate, or even eliminate, these failures.
- Visual systems use the power of AI to maximize effectivenessArtificial Intelligence (AI) is now seemingly everywhere. It’s in the news nearly every day: self-driving cars, the latest ChatGPT release, algorithms that accurately predict equipment failures or select stocks for your 401k, behind-the-scenes software that completes your text sentences for you. It’s inescapable and will only become more so in the years to come. Many grandiose claims are made each day about how AI will make all our lives better: less manual work; more timely, accurate outcomes; even a 21% increase in U.S. GDP by 2030. So why are only about a third of companies actively using the technology today?
- Aging global infrastructure and the role of AIMuch attention has been focused in recent years on our national infrastructure, particularly following passage of the $1 trillion Bipartisan Infrastructure Law in 2021. Much of our current infrastructure was built several decades ago and now shows signs of severe wear and degradation.
- Visual AI: delivering real-world HSE valueDespite endless efforts to minimize workplace accidents, injuries, and deaths, there were more than 2.8M work-related injury and illness cases in 2022. Workplace fatalities increased by 7.5 percent from 2021 to 5,486. Farming, fishing, and forestry had the highest fatality rates, with construction and extraction jobs a close second place. What more can we do to mitigate this trend and proactively identify and address the root causes of safety incidents, injuries, and deaths in the workplace? Can artificial intelligence in the workplace be the solution?
- Artificial intelligence and the future of laborHow will artificial intelligence impact the future of labor? To some workers around the country, AI is a bad word. They’ve learned that artificial intelligence will take their jobs, but the reality is quite different.
