Our team is always keeping an eye on news surrounding digital twins, machine learning, data analytics and more. Here are a few articles that we found especially interesting during the month of July.
Municipalities around the world are striving to initiate big changes using IoT technology. With improved sensor technology and wide-spread digitization, the logical next step is to evaluate incorporating Artificial Intelligence (AI) and Machine Learning (ML) technologies, helping efficiently process data from multiple sources in real time into actionable operational insights. We couldn’t agree more! (Be sure to check out our Tignis TV interview with Steve Allbee, former U.S. EPA Project Director, for more insights into the critical role of asset management in the water and wastewater treatment industry.)
In yet another excellent article, Louis Columbus explains how cloud technology can help prolong the life of equipment, benchmark performance over time, improve collaboration, and more. Cloud-based SCADA (supervisory control and data acquisition) systems “are providing new insights into preventative maintenance, changing long-standing assumptions, and improving performance.” SCADA data also helps identify factors impacting machine stability by location, asset and process workflows.
More IoT devices, but homeowners’ insurance adoption still lags potential – Digital Insurance
According to research from Markets and Markets, the size of the global smart home market will grow from USD 78.3 billion in 2020 to USD 135.3 billion by 2025 at a CAGR of 11.6 percent over the five-year period.
In this article, Digital Insurance delves into three categories of IoT technology that interest insurers right now: water leak detection, smoke and fire suppression, and intrusion detection. Using data from their policyholders’ smart home technology, insurance carriers will be able to deepen customer engagement, increase loyalty, and reduce risk.