AI applications in Business
The Road to Smart Procurement powered by AI
Traditionally, procurement has been focused on cost savings and has been measured against year-on-year savings impact. While this remains an important objective, the current growth rate in procurement savings is not sustainable. Moreover, rapidly changing consumption habits and complex supply chains are creating new expectations on procurement to bring in much-needed agility and risk mitigation techniques to these processes.1 Today’s typical procurement function hence sets strategy priorities beyond pure cost reduction, and also looks at new products/market development and better Read more…
AI applications in Business
Intelligent Maintenance – Part 2: “AI beyond Predictive Maintenance”
We often – narrow-mindedly – tend to restrict the AI use case discussion in maintenance to the more sophisticated maintenance strategies (Predictive (PdM) or Prescriptive (RxM)), with a focus on predicting equipment failure. Yet, there are other ways AI can benefit maintenance objectives even under more basic maintenance models (reactive and preventive). While Part 1 of this blog series looked at how more sophisticated maintenance strategies powered by AI can create substantial value for asset-intensive businesses, in this (second) part, Read more…
AI applications in Business
Intelligent Maintenance – Part 1: “AI for Advanced Maintenance”
In this first part of my blog series on Intelligent Maintenance, I introduce some basic maintenance concepts and look at how more sophisticated maintenance strategies powered by AI – whether Predictive (PdM) or Prescriptive (RxM) approaches – can create substantial value for asset-intensive businesses. Yet, we often – narrow-mindedly – tend to restrict the AI use case in maintenance for these more sophisticated strategies, while there are other ways AI can benefit maintenance objectives even under more basic maintenance models Read more…