In developing successful digital asset management strategies, utilities will need to consider an increasing number of data sources, decision-making levels and IT approaches. This will require an increase in efficiency delivered by:
- An increase in the level of automation and a step-wise approach towards autonomous systems
- Value-based business models and earning logics in a business network
- A shift from analytics-based and consultative services towards artificial intelligence (AI)-based automated decision-making processes
Cyber-physical systems (CPS) are emerging from the integration of embedded computing devices, smart objects, people and physical environments, which are typically tied by a communication infrastructure. Technologies such as virtual reality, data visualisation, real time modelling, to name but a few, are allowing industrial organisations to look at their assets in new ways and fundamentally rethink business value delivery.
In both new and existing assets, utilising sophisticated cyber-physical systems by combining sensors and actuators can achieve benefits such as an increase in energy efficiency and better asset lifecycle management.
These new processes will require huge changes from the industry:
- More transparent, open ways of working
- Cross-sector and cross-organisation collaborative working
- The sharing of both detailed models and large amounts of digital data and information
- Improved asset lifecycle management by capture of data and information about real-time use, performance and condition
In this podcast we are asking if companies are prepared to take the leap to the world of cyber-physical systems and if they even have the skills to do so.
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