1. The Challenge to Connect AI with OT
IT/OT convergence has been a common issue over the last couple years and these historically siloed departments are steadily becoming more compatible. With the addition of AI to the mix, there needs to be a new convergence of AI with IoT. Next year the conversation will likely switch to AIoT. Check out our blog “AIoT and what it means for your business.”
2. The Fight for Budget
Asset intensive industries have always had a tight margin and any added efficiency is crucial to survival. In the next year, especially with a potential global recession looming, budgets will be much tighter. Getting budget for your reliability and maintenance initiatives will be harder than ever. You will likely have to build strong business case backed with ROI. Here are 5 Steps for those looking to build a business case in 2020.
3. Industrial Revolution
Industries with little or no change for half a century are starting to revolutionize. Without naming names, certain industries seem to be quite behind on technology. Some companies are still operating using paper and need to digitize their data. Others are starting to make the investment in digitalization but have poor quality data. These industries are being forced to revolutionize as their competitors take advantage of technology.
4. Push for Cyber Security
Many predicted this years ago, but we are still behind on having a great solution to our cyber security risks. 2020 will be a year for advancements in this space as the demand increases and solution providers race for market share. The risk of adding more OT devices to a plant requires much better security solutions. Not to mention the risk of data or systems being hacked is increasing rapidly.
5. Data Storage Solutions
We have already seen changes in data storage trends particularly the hybridization of data storage across a mix of local data centers, cloud storage, and edge devices. This makes disaster recovery plans incredibly difficult. We need a solution where cyber security meets data storage practicality.
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A good place to start with digital transformation is by doing a pilot project. In order to decrease downtime, you need to start by analyzing the equipment that is closely related to your revenue streams or the equipment that most frequently fails. Then digitize, digitalize and digitally transform within those areas. Creating Illustrated Parts Catalogues for these pieces of equipment is incredibly beneficial to reducing downtime, and increasing overall ROI.
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