IBM and Black & Veatch announced a cooperative effort to market Asset Performance Management (APM) solutions, which combine near-real-time data analytics with artificial intelligence (AI) to help business clients ensure that their equipment and assets are operating at peak performance and reliability.
Kareem Yusuf, IBM General Manager of AI Applications and Blockchain, said, “Organizations in every industry need to figure out how to use the vast amounts of data generated within their own systems. Monitoring insights that combine AI and machine learning technology with deep industry expertise can help organizations make better sense of their data and use it to manage their assets better. IBM and Black & Veatch are collaborating to deliver insights that can be applied to improve the performance of assets and extend their lifespans.”
In collaboration with IBM, Black & Veatch is creating an asset management solution that integrates its asset management services (AMS) and analytics with its Maximo application suite. The solutions are designed to aid businesses and organizations in supporting more resilient operations. With four monitoring and diagnostics centers, Black & Veatch is well-equipped to detect problems in near real-time, as well as to analyze and forecast asset performance changes by utilizing thousands of models and scenarios. Black & Veatch’s Monitoring and Diagnostics expertise, as well as data analytics, can be integrated with IBM Maximo Application Suite’s Assist, Monitor, Health, Predict, and Visual Inspection capabilities to bring these insights in the field.
Dave Brill, Vice President and Director of Asset Management Services with Black & Veatch, said, “Digital twins will be a necessary part of the industrial sector’s digital future because of the detailed understanding they provide and expert analysis they enable for complex assets. The IBM Digital Twin Exchange can make this level of understanding more accessible by connecting customers in asset-intensive industries and in need of digital twins with members of IBM’s rapidly growing partner ecosystem that can share their models. As part of this collaboration, Black & Veatch plans to develop digital twin asset models to sell through the Digital Twin Exchange, expanding the library’s inventory.”
As a member of IBM’s partner ecosystem, Black and Veatch help unlock the value of Industry 4.0 by accelerating the adoption of open hybrid clouds and artificial intelligence for clients in essential industry sectors such as manufacturing, energy, retail, and smart cities. With Red Hat OpenShift, IBM’s enterprise Kubernetes platform, its partner ecosystem helps manage and modernize workloads on any infrastructure, from mainframes to IoT and everything in between with hybrid cloud environments.