ABB announces AI-based asset performance management

ABB has announced the launch of ABB Ability Genix Asset Performance Management (APM) Suite for condition monitoring, predictive maintenance and asset performance insights for the process, utility and transportation industries.

The company says the Genix APM Suite makes it easy to add asset condition monitoring to existing operational technology (OT) landscapes, enables prioritisation of maintenance activities based on AI-informed predictions, and provides a comprehensive overview of asset performance.

Genix APM Suite also helps support improvements in operational sustainability. By assessing the remaining useful life of industrial assets, Genix APM generates a plan for preventive maintenance, which it is said can extend equipment uptime by as much as 50% and increase asset life by up to 40%.

“Poor asset availability and reliability is a major problem that results in unplanned downtime and unexpected maintenance costs, and also impedes strategic planning and procurement,” said Rajesh Ramachandran, Chief Digital Officer at ABB Process Automation. “It’s not that industrial customers lack data; it’s that many lack effective ways to use their data to improve operational and business performance.”

Genix APM is built on the ABB Ability Genix Industrial Analytics and AI Suite. ABB Ability Genix is a modular, IIoT and analytics suite, which integrates IT, OT and other enterprise data in a contextualised manner, applying industrial AI capabilities designed to support insights to optimise operations.