For some time now, the geospatial industry has witnessed a continual flow of technological advancements, and it is sometimes difficult to keep track of all the developments.
In a crowded landscape, how can businesses decide which technologies will make a difference to their operations? Adoption of new technology, such as the Internet-of-Things, Machine Learning, robotics and Artificial Intelligence, is not a goal in itself. As an industry, it is our duty to help our clients navigate these developments to solve their challenges and support their strategic objectives, while passing on the benefits to society as a whole.
Geo-data is key to effective asset management
Owning large and complex assets on land and at sea, our clients play a critical role in society by ensuring safe, reliable and affordable access to energy, and the transportation of people and goods. Yet these assets are under increasing strain due to the combined effects of a growing world population, increasing urbanization, and climate change. Additional challenges facing asset owners include aging assets and a gradual loss of local knowledge due to a retiring workforce that is not being replaced.
When it comes to critical infrastructure, traditional asset-condition assessment and management are often inadequate at dealing with these increasing challenges. Understanding where the assets are, continuously assessing their condition and predicting how they will evolve in a dynamic environment are essential to better managing risk throughout the asset life cycle. Without this information, asset owners typically find themselves in downwards spending spirals, which ultimately lead to shorter asset lifetime, increased maintenance and therefore lower returns on their investments.
Through accurate Geo-data and artificial intelligence, we hold the key to providing asset owners with new digital ways of working that allow clients to design and develop more resilient assets and extend the life of existing ones.
Such Geo-data driven solutions already exist and are contributing to more efficient asset management, as well as a safer and more sustainable world. Reducing accidents on roads and rail, lowering the risk of electricity networks sparking bush fires, and minimizing dangerous unplanned maintenance in industrial processing plants are just some examples of what the new sophisticated geosolutions are bringing today.
Also Read: How is location integral to modern life
Electricity utilities go digital
Currently, the most disrupted industry is the electricity utility industry. Electricity utilities are being challenged to accelerate the transition to an energy supply chain that is carbon-free, efficient, digital and distributed. Clients, solution-providers and utilities are moving towards a service-oriented platform that allows them to participate in an open energy marketplace that supports our rapidly changing world with a fast-growing population, high rate of urbanization, greater economic prosperity and a strengthening call for climate resilience.
Electricity utilities face a daunting task. Built more than 60 years ago, today’s electricity infrastructure is under increasing strain. Add to that an ageing workforce, increasing demands from tech-savvy clients, and price pressures from new competition: in this landscape, existing, disconnected and disparate asset datasets create a knowledge gap that prevents utilities from effectively serving their clients.
Today’s utilities can close this gap by implementing the latest remote-sensing technologies combined with cloud-computing, automation, artificial intelligence, immersive visualizations and advanced data analytics. They can utilize these geosolutions to build 4D representations of their transmission and distribution networks that form the nucleus of a digital twin for use across their business to connect disconnected datasets and underpin their digitization strategy. Digital geosolutions deliver benefits across a range of energy applications, from building an offshore wind farm to modernizing transmission networks to strengthening distribution grids to cope with customers’ electric cars and solar panels.
A safe and liveable world
The application of powerful technologies such as Machine Learning and Artificial Intelligence to critical infrastructure must be accompanied by scrupulous attention to cyber security and data privacy. Nevertheless, as a business, it is our duty to enable a digital approach to asset management and operations through these technologies, to optimize the return on capital investment programmes and lay the foundation for successful long-term strategy implementation, while ensuring reliable service to everyday clients.
Contributing to a safe and liveable world, our future goes well beyond the provision of data. We must unlock insights from Geo-data by providing integrated digital solutions that serve our clients’ purpose and society as a whole.
