Transforming Industries with Industrial Intelligence: Unlocking New Value with Data and AI
Industrial intelligence as a service is a new approach that differs from traditional data analytics capabilities by bringing together different disciplines of engineering, operational data, process data, and production data to create new value realizations. This approach aims to break down the silos of data and information in industrial settings to unlock new use cases and value.
The competitive advantage of industrial intelligence as a service for industrial businesses lies in its ability to leverage data and analytics to drive various outcomes depending on the industry or vertical market. For example, it can reduce costs and complexity in the design-build lifecycle of engineering or EPC (Engineering, Procurement, and Construction) processes. It can also enable reliability-centered maintenance and production performance gains by providing access to valuable information for analytics. Moreover, it can create new avenues of growth by creating communities of data and setting up online marketplaces and brokerages, as demonstrated by the example of power producers and power purchasers.
More about Data Science in Industrial Engineering
Adopting a data-centric approach is essential for achieving sustainability and efficiency goals in industries. Trusted, accurate, and reliable data is the foundation for any successful analytics or AI initiative. Industrial intelligence as a service provides the necessary baseline of trusted engineering, process, and production information to drive meaningful outcomes and support sustainability, liability, and engineering programs.
AI can help inform better design patterns for critical assets, predict and prevent failures in operations, and enable more practical applied analytics in everyday operations. The goal is to make AI and analytics tools accessible and user-friendly for process engineers, production planners, schedulers, and maintenance technicians, so they can focus on their roles without having to become programmers or coders.
Industrial intelligence as a service is transforming industries by unlocking new value with data and AI. By breaking down data silos, leveraging analytics and AI, and adopting a human-centered approach, industrial businesses can drive innovation, achieve sustainability goals, and gain a competitive advantage in the market. The future of industrial intelligence lies in making advanced technologies accessible and user-friendly for industry professionals, empowering them to leverage data and AI to drive meaningful outcomes.
This blog post was created based on the script of the video with the assistance of https://chat.openai.com/.