The Evolution of AI in Asset-Intensive Industries
Artificial intelligence (AI) and machine learning have transformed asset-intensive industries. From the rudimentary automation of the 1960s to today's AI-powered Industrial Internet of Things (IIoT), we now seek to automate tasks and elevate frontline worker experiences.
As noted in Hype Cycle for Frontline Workers, the emergence of AI-driven "connected frontline worker" platforms signals a paradigm shift with promising potential.
Why AI-Powered Connected Worker Platforms are Essential
In today's era of automation and AI, the persistence of unplanned downtime in oil and gas refineries may come as a surprise. According to a Siemens study, Fortune Global 500 companies incurred nearly $1.5 trillion in losses due to unplanned downtime in 2021-22, equating to 11% of their yearly turnover. In the oil & gas industry, the costs of unplanned downtime have surged by over 76%, reaching $149 million per site during the same period.
So, what's the remedy for this trillion-dollar problem? The solution often lies in bridging the gap between frontline workers and technological advancements.
The demand for AI-powered connected worker platforms stems from the need to harness the full potential of human expertise alongside technological innovation. These platforms act as conduits for leveraging real-time data, translating it into actionable insights, and fostering a culture of continuous improvement, echoing the principles of the Kaizen philosophy.
In essence, AI-based connected worker solutions empower industrial companies to proactively support their workforce across various operational scenarios, spanning operations, maintenance, and warehouse activities. By seamlessly integrating human intelligence with cutting-edge technology, these platforms pave the way for enhanced efficiency, reduced downtime, and ultimately, a more resilient and competitive industrial landscape.
Innovapptive’s AI-Driven Capabilities
Innovapptive strides ahead in addressing industry challenges across plant operations, maintenance and warehousing. Our AI-powered solution for SAP Plant Maintenance not only streamlines operations and maintenance but also optimizes programs to reduce Mean Time to Repair (MTTR) and enhance efficiency.
Key Innovapptive Features Supporting Intelligent Workflows and Automation:
- AI Digital Assistant: Gift your frontline workers a smart assistant that offers real-time guidance, instant troubleshooting, and easy access to key documents, keeping asset downtime low and operations smooth!
- Gen AI Form Builder: Create thousands of SOPs and inspection checklists in just minutes with Gen AI! Transform your old paper forms into digital formats, boosting accuracy and efficiency.
- Asset 360 Dashboard: Get a quick, comprehensive snapshot of your assets’ history, past work details, and current conditions, while keeping tabs on expenses and issues — all in one place, with smart suggestions.
- Advanced Computer Vision Technology: Our app's camera acts like a superhero's keen eye, spotting even the tiniest wear and tear to eliminate pesky manual errors. By catching issues early, we turbocharge Mean Time Between Failures (MTBF) and keep your assets running smoothly, boosting productivity and safety to the max.
- Risk Matrix based Prioritization: Sort out your inspection and maintenance activities like a pro, saving time and money by focusing on high-risk equipment first and allocating resources effectively.
- Automated Shift Handovers: Seamlessly handle shift changes and ensure a smooth flow of knowledge between teams without any hiccups. It's like having an eagle eye for audits, catching every detail and saving big on compliance costs!
- Intelligent Unified Platform: At the heart of our platform lies Innovapptive’s patented RACETM solution that lets supervisors configure and customize operations through a simple WYSIWYG interface.
But wait, there’s more! Seamlessly integrate third-party systems for a fully connected worker experience, with deployment speeds up to 10 times faster.
Driving Outcomes with AI-Powered Solutions
From a return on investment (ROI) perspective, AI-powered platforms offer tangible benefits:
- Enhanced Frontline Worker Productivity: Optimize wrench time by 15-20% through streamlined work order processes.
- Risk Mitigation: Reduce unplanned downtime by 17-22%, as AI algorithms foresee disruptions.
- Efficiency Boost: MTTR decreases by up to 20%, facilitating faster repairs.
- Cost Savings: Minimized losses from human error and communication issues enhance the bottom line.
- Elevated Workforce Engagement: Frontline workers embrace AI-powered tools, enhancing capabilities and autonomy while imbuing roles with greater significance.
Source: Innovapptive Customer Data - Q1’24.
Case Study: Enhancing Oil and Gas Operations
One of our clients, a leading oil and gas company, faced significant challenges with unplanned downtime and maintenance inefficiencies. By implementing Innovapptive's AI-powered connected worker platform, they achieved a 17% reduction in unplanned downtime and a 19% decrease in MTTR, resulting in annual savings of over $12 million. Additionally, worker engagement scores improved by 15%, reflecting the positive impact on their workforce.
Curious to know more?
Innovapptive stands at the vanguard of modern connected worker platforms, armed with a suite of pre-packaged application software designed to catapult organizations into the future.
