Three major EAM forecasts for the near future

1. The number of ISO 55000 certifications will reach record highs

A new ISO 55000 series, including six asset management standards, will be released, prompting many organizations to formalize their certification status and drive exponential adoption. By adhering to ISO best practices, these organizations will experience higher productivity, enhanced revenue, access to markets that require specific standards, and consistency in their operational practices. 

2. AI will become increasingly commoditized.

Most companies utilizing APM already leverage AI embedded within the technology to enhance operational efficiencies. AI and APM systems are naturally aligned, relying on rapidly expanding business and operational data for optimal performance. As AI adoption accelerates, it becomes more commoditized, making the technology more accessible and affordable, with reduced dependence on in-house experts and support.

3. AI will reduce screen time for workers to near zero

Maintenance technicians and other specialized workers will experience near-zero screen time as intelligent systems utilizing AI, automation, and comprehensive business and operational data take over. With AI predicting potential asset failures by analyzing data from APM, EAM, and other sources, workers will no longer need to write reports, file work orders, or identify the root causes of failures. Instead, they can concentrate on their core responsibilities: serving customers and maintaining the infrastructure’s integrity.

Source: 2024 EAM Predictions IFS blog post