| | April 20186CIOReviewWith the ongoing digital transformation, the tendency of industries to steadily invest in asset management and maintenance tools--including IoT enabled devices--is on the rise. The voluminous amount of highly actionable IoT-generated data from these assets, machines, mobile workers and operational processes are creating a new opportunity for the world of asset management. According to a Forrester survey conducted on decision-makers in the asset-intensive industries like oil and gas, chemicals, mining, manufacturing, and construction, 97 percent says that IoT will be one of the most impactful technology in the industry as it enhances asset management processes by introducing more automation, real-time data analysis and intelligent decision-making.Advancements in the field of artificial intelligence (AI) and Machine Learning (ML) is also disrupting the EAM space. AI, ML and cognitive technologies will not only allow learning and executing repeatable patterns and automating tasks, but it also help operations managers to determine which production units might be prone to standstills through the identification of data anomalies. While the IoT and AI represent an important part of the future of EAM, they're nowhere near as fascinating as the drones. Drone-based asset management is clearly the next frontier for many sectors, including railroads, oil and gas, and aviation and companies can deploy them to the vantage points that are impossible for humans to get to, and send the data back to the EAM system.As asset management technology continues to evolve, the end goal always remains greater efficiency. The future of EAM is about looking at how we use technology in the real world and making it easier to use so that the stakeholders can optimize the value of their assets, not just maintain them. On that note, CIOReview presents to you this edition on EAM. We believe this edition will help you in evaluating and formalizing EAM strategies for your organization.EditorialA New Reality in Asset ManagementCopyright © 2018 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.CIOReviewAPRIL - 2018Email:sales@cioreview.comeditor@cioreview.commarketing@cioreview.com APRIL- 2018, Vol 07 SE 15 Published by ValleyMedia, Inc.To subscribe to CIOReviewVisit www.cioreview.com CIOReviewEditorial StaffSalesT:510.996.5126Aaron PierceCarolynn WaltersJustin SmithKyle SummersRussell ThomasSandeepa MajumdarJessica Stanleyjessica@cioreview.comVisualizersIssac GeorgeAnil KumarManaging EditorJeevan GeorgeEAM SPECIAL*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staffJeevan George Managing Editoreditor@cioreview.comContact Us:Phone:510-402-1463Fax:510-894-8405
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