ARMONK, N.Y. and
OVERLAND PARK, Kan., Aug. 3, 2021 /PRNewswire/ -- IBM (NYSE: IBM)
and Black & Veatch today announced a collaboration to jointly
market Asset Performance Management (APM) solutions, including
remote monitoring technologies that combine near real-time data
analytics with artificial intelligence to help customers keep
equipment and assets running at peak performance and
reliability.
The companies are collaborating on solutions combining Black
& Veatch Asset Management Services (AMS) and digital analytics
with IBM Maximo Application Suite. These solutions are
designed to help organizations support more resilient operations
for industrial, energy and utilities assets. Black & Veatch
operates four monitoring and diagnostics centers and has vast
experience with near real-time, detection and analysis of emerging
problems by running thousands of models and scenarios to predict
changes in asset performance. IBM Maximo Application Suite's
Assist, Monitor, Health, Predict and Visual Inspection capabilities
aim to integrate Black & Veatch monitoring and diagnostics
expertise and data analytics with maintenance management to bring
them into the field where the insights can be applied.
The two companies are also planning to expand the IBM Digital
Twin Exchange using Black & Veatch's digital twin asset models.
"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," said
Dave Brill, Vice President and
Director of Asset Management Services with Black & Veatch. "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."
Faced with aging equipment, tightening budgets, increased
regulation and rapidly changing market dynamics, operators and
engineers require increased visibility into their equipment
performance and asset conditions. Remote monitoring technology can
help organizations understand their assets better by providing a
near real-time view of operations. Once data is collected, it can
enable both predictive and conditions-based maintenance, where
problems are proactively corrected before they escalate into system
breakdown, in an effort to limit downtime and maximize
productivity.
As assets and facilities continue to evolve and the volume of
data they generate grows, knowing how to effectively manage and use
this information is a major challenge for many organizations. As a
result, the dashboards used for monitoring data can be overwhelming
and have so many alerts that important ones may be ignored. AI and
machine learning can help bridge that gap and reduce this "alarm
fatigue" by sorting through the thousands of incoming datapoints,
so organizations can prioritize alerts and decisively plan their
actions. This collaboration combines IBM's software, artificial
intelligence and machine learning expertise with Black &
Veatch's engineering expertise to offer solutions that can help
reduce thousands of incoming data points to a handful of actionable
escalations by making predictions and then screening and diagnosing
alerts. With more than 20 years of experience in near real-time
data analytics, Black & Veatch provides a deep understanding of
how facilities and systems operate, and its expertise and models
are used to train IBM's AI to help detect anomalies and support
monitoring at scale.
"Organizations in every industry need to figure out how to use
the vast amounts of data generated within their own systems," said
Kareem Yusuf, IBM General Manager
AI Applications and Blockchain.
"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."
Black and Veatch is part of IBM's partner ecosystem helping
unlock the value of Industry 4.0 by accelerating the adoption of
open hybrid cloud and artificial intelligence for clients in
essential industries such as manufacturing, energy, retail, and
smart cities. IBM's partner ecosystem is designed to fuel
hybrid cloud environments by helping clients manage and modernize
workloads from the mainframe to the edge and everything in between
with Red Hat OpenShift, a leading enterprise Kubernetes
platform.
For more information on remote monitoring and asset maintenance,
visit here.
About Black & Veatch
Black & Veatch is an employee-owned global engineering,
procurement, consulting and construction company with a more than
100-year track record of innovation in sustainable infrastructure.
Since 1915, we have helped our clients improve the lives of people
around the world by addressing the resilience and reliability of
our most important infrastructure assets. Our revenues in 2020
exceeded US$3.0 billion. Follow us
on www.bv.com and on social media.
About IBM
For more information about IBM Maximo Application Suite please
visit ibm.com/maximo.
IBM Media Contact
Anthony Colucci
anthony.colucci@ibm.com
Black & Veatch Media Contact Information:
MELINA VISSAT | +1 303-256-4065 P |
+1 617-595-8009 M |
VissatM@BV.com
24-HOUR MEDIA HOTLINE | +1 866-496-9149
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SOURCE IBM