With 70% of Global CEOs of large enterprises putting Digital at the heart of their strategy, Industry 4.0 is centre stage for achieving competitive advantage and business success.
Delivering business value through traditional means has become less successful for many asset intensive organisations Disruption is the opportunity with the fourth industrial revolution upon us.
We have now entered the fourth industrial revolution – a fusion of technologies that has blurred the lines between the physical and digital worlds – and it is revolutionising the Enterprise Asset and Safety Management industry. Mass automation and customisation of tasks, real time data, new levels of efficiency, improved customer service and mammoth savings can now be enabled. That is what Industry 4.0 is about, and it is what EAMS Group will help you deliver.
UK CEOs understand the importance of technology for their own business outcomes in the near future, with 69% of them believing that emerging technologies, such as EAM, Cognitive, Analytics Artificial Intelligence, Blockchain and Robotics will disrupt their current business models in the next five years. Interestingly, this figure is a little higher than the global average, which stands at 64%. 70% of UK CEOs also believe that changes to customer behaviours will be disruptive to their businesses over the next five years, which is slightly higher than the global norm of 68% (though again lower than the figures for China and the US, which are 85% and 83% respectively). CEOs clearly understand that emerging technologies will be disruptive, but that they also open many new opportunities.
Advancing technologies are impacting all stages of how an asset is designed & built, maintained & operated. Current technology developments are increasing the opportunities for integration, interconnection and intelligence across the whole lifecycle, including: Links between design and enterprise asset management tools, allowing improved options based on whole life performance and cost modelling 2D, 3D and Visualisation technologies exploiting “as built” models, enabling a richer, safer, immersive augmented reality experience for asset maintainers and operators.
Trends including the mass sensoring of assets, delivering a wealth of real time data about asset condition and performance. Wearables, providing real time monitoring of workforce and early warning of health and welfare issues. Machine to machine and nanoscale communication, allowing assets and components to interact and respond to real world events. Machine learning, applied across the lifecycle to automate analysis and enable predictive and cognitive maintenance. Drone/operational service vehicle based visual condition capture using AI & machine learning to spot issues.
With the technology driven ‘fourth industrial revolution’ upon us there is little doubt that the digital era will challenge current industry and business models. New products, services and business models will disrupt the current industry norms. Technologies such as cloud computing, big data, machine learning/cognitive computing, robotic process automation and augmented reality support this. However, the ‘digital enablers’ wont enable the disruption alone. They are only a part of the complex rearrangement in the digital age. In the Enterprise Asset Management space – the foundations of engineering, asset management and technology coming together with an acceptable level of transformation of the organisation which to work must be in harmony. Technology for its sake alone without the target competitive advantage will only come up short. There has already been a shift from simple digitisation to innovation based upon combinations of technologies that ask the organisation to re-examine how it does business.
This is more than just technology and data, it is about people, process and organisational culture. For the business transformation to deliver world class results this has to be led from the very top of an enterprise where its competitive advantage is understood and invested in.
Find out more about industry 4.0 and how it can positively disrupt your organisation, request a visit to the Digital Transformation Centre.
Virtual Reality is the gateway into your Digital Twin and the Digital Enterprise. A real time virtual view of your organisation, its assets, people, performance and condition. Driving customer delight, safety improvements, reliability and cost savings to your enterprise.