How to enhance your decision making by combining the foresight of operational AI digital twins with the insight of asset performance and risk management
With more than $1 trillion USD per year lost on unplanned downtime, owner operators in heavy process industries seeking to improve uptime and reduce costs have much to gain from improved operations and maintenance strategies. Typically, companies monitor equipment behaviour based on operational data but are unable to combine that with knowledge of risk and how to apply actionable insights, jeopardising the effectiveness of the interventions and outcomes. This creates a compelling case for introducing greater use of artificial intelligence and machine learning capabilities to draw insights from operational data combined with solid engineering expertise and the right remediation tasks to deliver better results.
In this webinar, we’ll show you how to identify your most critical equipment and combine that with a plug-and-play solution for predictive production operations – giving you actionable insights that not only help you identify and prevent imminent events but also create an ideal maintenance strategy for your facilities. The resulting Digital Twin solution gives you a seamless view of risk and real-time conditions based on operational data to create an end-to-end improvement loop. This enables you to expedite decision making to optimise asset health and ongoing maintenance activity - optimising productivity and profit by reducing unscheduled downtime.
Presented by
Dr. Claus Reimers,
SVP Products & Technology, Lloyd’s Register
Claus leads product strategy, product management and product development for LR Digital Products. He has deep domain expertise in the Process industry and was previously VP of Product Strategy for Aspen Technology based in Boston, after the company acquired SoildSim Engineering GmbH – an organisation Claus co-founded and led. Claus has a Master and PhD in Chemical Engineering from Hamburg University of Technology. He is currently located in Hamburg.
Dr. Nikunj Mehta,
Founder & CEO, Falkonry
Nikunj founded Falkonry after realizing that valuable operational data produced in industrial infrastructure goes mostly unutilized in the energy, manufacturing & transportation sectors. Nikunj believes hard business problems can be solved by combining machine learning, user-oriented design & partnerships. Prior to Falkonry, Nikunj led software architecture & customer success for C3 IoT. Earlier, he led innovation teams at Oracle focused on database technology & led the creation of the Indexed DB standard for databases embedded inside all modern browsers. He holds both Masters & Ph. D. degrees in Computer Science from the University of Southern California. He has contributed to standards at both W3C and IETF and is also a member of the ACM.
