AI System to Improve Asset Management in Industry 4.0

As Industry 4.0 continues making media dominance, various associations are grappling with the genuine components of artificial intelligence (AI) use in maintenance. For a machine to be effective in the market, it must be able to learn. Artificial intelligence is the process by which computer systems access data, run analyses, and acquire knowledge in a manner similar to humans. Technology has been integrated into asset management for a long time with a variety of applications. The benefits of intelligent maintenance, which include determining the condition of equipment and predicting when maintenance should be performed, are immensely valuable. Maintenance experts understand that the use of AI (ML) based solutions can lead to significant cost savings, higher reliability, and increased visibility of the systems.

The purpose of this article is to examine the use of artificial intelligence in asset maintenance programmes and how this will assist companies in reducing their operational and maintenance costs while improving asset availability, reliability, and maintainability, and extending the overall asset life. This will be a key driver of skill requirements for Industry 4.0 in terms of the type of specialists, maintainers, and operators needed and the skills they will need to perform their functions.

Introduction

Even though maintenance designing and support have a similar end objective, the conditions under which they work vary altogether. Maintenance designing is a logical function that is conscious and deliberate whereas support is a function that should be performed under regularly antagonistic conditions and stress, and its fundamental goal is to quickly re-establish the equipment to its operational preparation state using available resources. The contributing goals of maintenance designing include improving maintenance activities, lessening the sum and frequency of maintenance, decreasing the ...