IBM and Black & Veatch today announced a partnership to jointly market APM (Asset Performance Management) solutions, including remote monitoring technologies that combine near real-time data analytics and artificial intelligence to help customers keep devices and assets in top condition and reliable.
The companies are collaborating on solutions that combine Black & Veatch Asset Management Services (AMS) and digital analytics with the IBM Maximo Application Suite. These solutions are designed to help organizations support more sustainable industrial, energy, and utilities operations. Black & Veatch has four monitoring and diagnostic centers and has extensive experience in near real-time detection and analysis of new problems. The Assist, Monitor, Health, Predict, and Visual Inspection features of the IBM Maximo Application Suite aim to combine Black & Veatch monitoring and diagnostic expertise and data analytics with maintenance management to bring them to a field where insights can be applied.
Both companies also plan to expand the IBM Digital Twin Exchange service using Black & Veatch’s digital dual asset models. “Digital twins are an essential part of the digital future of the industrial sector because they provide detailed understanding and enable complex analysis to enable expert analysis,” said Dave Brill, Executive Vice President, Black & Veatch. “The IBM Digital Dual Exchange can make this understanding even easier by connecting customers from resource-intensive industries and need digital twins with members of IBM’s fast-growing partner ecosystem who can share their models. As part of this collaboration, Black & Veatch plans to develop digital dual asset models for sale through the Digital Twin Exchange service and expand the library’s inventory. “
Users and engineers are demanding better visibility into equipment performance and assets due to equipment aging, tightening budgets, increased regulation, and rapidly changing market dynamics. Remote monitoring technology can help organizations better understand their assets by providing a near real-time view of operations. Once collected, data can enable both proactive and condition-based maintenance, where problems are proactively corrected before they escalate into system failures to limit downtime and maximize productivity.
As resources and facilities are constantly evolving and the amount of information they produce is increasing, the effective management and use of that information is a major challenge for many organizations. As a result, aggregate screens used to track data can be overwhelming and have so many alerts that important ones can be ignored. Artificial intelligence and machine learning can help fill this gap and reduce this “alarm fatigue” by sorting thousands of incoming data points so organizations can prioritize alerts and resolutely plan their operations. This collaboration combines IBM’s software, artificial intelligence and machine learning expertise with Black & Veatch’s technical expertise to provide solutions that can help reduce thousands of incoming data points to a handful of functional escalation by making predictions and screening and diagnosing warnings. With more than 20 years of experience in near real-time data analytics, Black & Veatch offers a deep understanding of how facilities and systems work, and its expertise and models are used to train IBM artificial intelligence to detect anomalies and support large-scale monitoring.
“Organizations in all industries need to figure out how to use the huge amounts of data generated in their own systems,” said Kareem Yusuf, IBM CEO of AI Applications and Blockchain. “Tracking insights that combine artificial intelligence and machine learning technology with in-depth expertise in the field can help organizations better understand their knowledge and use it to better manage assets. IBM and Black & Veatch work together to provide insights that can be used to improve asset performance and extend their life. “
Black and Veatch is part of IBM’s partner ecosystem, helping to unlock the value of Industry 4.0 by accelerating the deployment of an open hybrid and artificial intelligence for customers in key industries such as manufacturing, energy, retail and smart cities. IBM’s partner ecosystem is designed to feed hybrid cloud environments by helping customers manage and modernize workloads from the CPU to the edge and everything in between with Red Hat OpenShift, the leading Kubernetes platform.