The Internet of Things (IoT) remains a mystery to some asset management companies, with its benefits not fully realised. Here, Ian Boake, Principal Strategic Consultant at Jacobs, explores how IoT can enhance a company’s asset management operations.
Ahead of his presentation, Demystifying the Internet of Things, at the Asset Management for Critical Infrastructure Conference, 16-17 August in Sydney, Mr Boake says the Internet of Things is already being implemented in interesting ways in the asset management space.
“I think the use of these devices on aging bridges allows asset owners to extend the life of these assets and plan for their eventual decommissioning and replacement in a more optimised way.”
Mr Boake also says that finding new paradigms to engage with IoT can enhance safety and allow companies to better manage assets.
“There are many other examples such as monitoring of wastewater streams before they enter major waterways to prevent pollution catastrophes, or the ability to monitor low-voltages on power reticulation networks at many different points in order to detect the location of faults when the power network is only supplied from a battery-inverter.”
When it comes to the future of asset management, Mr Boake says that it is likely that IoT will be implemented via technologies that allow users to engage with data and encourage a shift in traditional perspectives.
“I think Virtual Reality (VR) and machine-learning are really cool ways of visualising these new insights which people can really engage with, and it will help people to see the assets that they use in a completely new way.”
How can your company benefit from the Internet of Things?
Hear more from Ian Boake about the impact IoT can have on your company in his presentation at Asset Management for Critical Infrastructure, running from 16-17 August at the Swissôtel in Sydney.
For more information or to register visit www.assetmanagementforcriticalinfrastructure.com.au.