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08.20.17 


Down, But Not Out: How Artificial Intelligence Will Save Industry From its Costliest Challenge


   


    One of industry’s biggest challenges is also its most expensive. Downtime is a multi-billion-dollar problem that’s continuing to grow larger and more complex. It’s an increasingly important issue facing global companies in today’s connected world.

The stakes are high. Research from Gartner shows the cost of downtime can skyrocket as high as $540,000 for every hour assets, workers, infrastructure, systems or networks are unavailable. A whopping $647 billion is lost globally each year, per the International Society of Automation.

Downtime has long hindered industry. But is it inevitable? Not anymore. This prominent, age-old obstacle now has a beacon of hope: artificial intelligence (AI).

AI: the Secret Weapon in the Fight Against Downtime

At Uptake, our breakthroughs in AI are redefining what’s possible in industry by predicting and preventing unplanned downtime before it occurs, turning cost centers into profit centers, and improving the bottom line.

Our machine learning engines make it possible to detect anomalies that deviate from normal behavior patterns, extract relevant signals from unnecessary noise and predict failures that are likely to occur. They also recognize situational changes in image data, recommend next steps for effective repairs and ensure accurate record keeping throughout.

And we do it fast: Uptake deploys data science models within an hour and generates 4 million predictions per week for our customers. This speed is important because we quickly deliver outcomes that drive their businesses forward. Here’s a quick snapshot of how we’re doing it across several industries:

  • Keeping wind turbines turning: we’ve caught catastrophic failures at wind farms several months before they even had a chance of happening.
  • Putting trains back on track: we’ve not only saved hundreds of railroad failures, we’ve created hundreds of thousands of dollars in new value per locomotive per year.
  • Making commerce more efficient: we’ve forecasted failures in retail point-of-sale systems, creating 4x ROI in labor savings and accelerating checkout processes.
  • Growing smarter in agriculture: we’ve worked with original equipment manufacturers (OEMs) to achieve productivity gains for harvesters using prognostics and field service solutions, resulting in the ability to significantly increase revenue and profit.
  • Improving mining and construction: we’ve identified major machine malfunctions that would’ve required several hundred hours of downtime and several hundred thousand dollars in repairs, reducing each to a miniscule fraction of the potential fallout.

Powering a Brighter Future


Behind the scenes, Uptake’s data science and predictive analytics make the above outcomes possible. We put our customers ahead of the curve by turning mountains of industrial data into actionable insights that predict and prevent unplanned downtime, and maximize uptime. Our approach is unique because:

  • We work across industry. Our data science and predictive analytics get smarter with every piece of data we take in. We apply those learnings across sectors to deliver insights that make an impact to our clients’ businesses right away. Plus, our open-source platform improves at the speed of technology.
  • Our outcomes and insights are brand-agnostic. We don’t depend on a certain system, and we can provide actionable insights to your business regardless of the technology you’re currently using. There’s no conflict of interest with Uptake. We don’t have a vested interest in selling you equipment or servicing it, because we’re not an OEM. We’re strictly focused on driving outcomes.
  • We’re an unbiased source of the truth. Uptake is in the business of data, insights and outcomes.
  • We’re a low-risk partner because we commit to delivering results. We take on the responsibility of creating measurable outcomes and ensuring impact for our customers.

Even when unavoidable downtime occurs, Uptake minimizes it by helping businesses make better-informed decisions based on data instead of guesswork or intuition or habit. We can provide actionable steps on the right maintenance and repairs to ensure they’re done right the first time, to get assets back up and running as fast as possible.

The result: the businesses we work with become more productive, secure, safe and reliable.

A Wakeup Call for Industry


At Uptake, we’re passionate about making businesses more proactive. We’re laser-focused on creating more efficient operations for our customers, saving them time and money, and maximizing their output.

Today, the right technology is readily available for making unplanned downtime a thing of the past. Data science and predictive analytics have the potential to provide accurate recommendations. What’s more, they continuously learn over time and leverage outcomes to know what the future holds.

The future of industry begins now. But the rewards go to those who act. It all starts with putting the right foundation in place to decrease downtime, minimize customer disruption and improve the bottom line.







Brad Keywell, ©2020
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