AVEVA’s artificial intelligence infused technology delivers comprehensive preventive and predictive software capabilities

AVEVA’s artificial intelligence infused technology delivers comprehensive preventive and predictive software capabilities
Published: 26 January 2020 - 6:30 a.m.
By: Martin Menachery
AVEVA announced a significant enhancement to its Asset Performance Management (APM) portfolio – the launch of AVEVA APM Assessment, AVEVA Asset Strategy Optimisation and AVEVA Asset Strategy Library.

The announcement completes the integration of the recently acquired MaxGrip software solutions into AVEVA’s APM Portfolio. As a result, customers are now able to realise greater levels of reliability, availability, safety and efficiency in operating their capital assets, and move from reactive and predictive maintenance to prescriptive maintenance.

Adding to AVEVA’s comprehensive preventive, condition-based and predictive software capabilities, the integrated solutions will empower the workforce to execute prescriptive guidance across engineering, operations and maintenance resulting in improved efficiency, safety and reliability.

AVEVA’s investment in and integration of APM technologies has also earned it recognition, from Frost & Sullivan, as the market leader in the upcoming Global Asset Performance Management Market Report.

"Frost & Sullivan assessment of the Global Asset Performance Management market positions AVEVA as the market leader in the $1.2bn space, driven by the 4th Industrial Revolution and digitalisation trends," commented Ram Ramasamy, industry director, Frost & Sullivan.

“We have seen customer demand evolve from asset failure prediction to the need for integrated guidance and prescriptive actions. AVEVA is the first vendor on the market to offer the portfolio breadth and domain expertise to help customers fully realise untapped value, gain control of their asset strategy and prescribe and execute the most efficient action,” commented Kim Custeau, vice president of asset performance management AVEVA.

With this set of capabilities, we are redefining the scope of asset performance management to deliver improved business outcomes for our customers.

AVEVA’s APM Assessment benchmarks a company’s current practices against best-in-class performance and builds a comprehensive roadmap encompassing people, processes and technology. These metrics, including asset criticality, are then used in AVEVA Asset Strategy Optimisation to balance risk, cost and performance of assets. This enables organisations to prioritise maintenance investments and apply the most effective strategy for the workforce to execute.

ADNOC Gas Processing is working with AVEVA, using predictive AI technology with prescriptive maintenance. “We value our strategic partnership with AVEVA, they set a very good example for what a good collaboration is, and the results that come from this are a game-changer for long-term equipment management and optimisation,” commented Ahmed Mohamed Al Abri, vice president, engineering and technical services, ADNOC Gas Processing.

From reactive to proactive, AVEVA’s AI-infused software coupled with a rich asset library, provides the unique ability to empower customers beyond anomaly detection with prescriptive analytics to guide actions and drive targeted outcomes. By deploying these solutions, organisations can now rapidly predict asset failure and then prescribe the most economically advantageous action that will remediate potential asset failures.

In terms of business value, these AVEVA’s APM capabilities enable doubling production output, reducing unplanned downtime, and saving hundreds of millions of dollar in averted asset failures. For the workforce, it means a safer, more reliable environment and better data to support accurate decision making.

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