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How Machine Learning is Changing Business Models for Asset Management
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"How Machine Learning is Changing Business Models for Asset Management"

In industry 4.0, companies IoT data is creating more and better predictive models.

Advancements in data science, computing power, and artificial intelligence have allowed IoT Oil and Gas Pump manufacturer, Flowserve, to provide predictive maintenance on both the individual and fleet level. Results with asset-specific models have shown a 20x increase in advance warning of pump failures and are built in 1/10th the amount of time. This report from the ARC industry forum provides insight into:

  • The limitations of big data acquisition and reliance on threshold-based monitoring
  • How large scale manufacturing can develop equipment and environment-specific models with advanced algorithms in less than 30 days
  • How Artificial Intelligence can remediate problems much faster to avoid costly unplanned downtime with increased scalability, accuracy and security


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