AI-enabled technology can monitor and more competently manage energy usage in real-time on adopting predictive analytics– for instance, turning down the heat during periods of inactivity depending on historical usage patterns.
FREMONT, CA: One excellent news for Facilities Managements (FMs) is that Artificial Intelligence (AI) works by empowering machines and systems to learn from experience, process heaps of data, and adjust to new inputs by recognizing patterns in this data. Consequently, managers will profit from accelerated processes, preserved energy and resources, reduced expenses, and a streamlined workflow that is proactive instead of reactive.
Below are three revolutionary applications of AI taking shape across the FM industry today.
1. Predict Faults and Schedule Preventative Maintenance
According to a professional association, $647 billion is lost globally to machine downtime every year. Whether caused by changing seasons, augmented usage, or aging, appliances and apparatus are prone to eventual faults– and when defects occur, they can cost businesses money in more ways than one. AI-enabled FM software can forecast and even prevent breakdowns by evaluating and interpreting historical data on past asset failures, labor needs, and services, and using this information to mechanically create work orders and direct them to the suitable vendors.
One illustration of AI-enabled FM software that can support these tasks, among others, is a particular company’s Decision Engine, which employs prescriptive analytics to help FMs make intelligent, data-driven decisions when choosing contractors, revising proposals, and scheduling maintenance.
2. Decreased Energy Expenditure
While there are various ways to decrease energy consumption across facilities, AI offers a hands-off solution to chief energy drains like refrigeration, HVAC, and electricity. AI-enabled technology can monitor and more competently manage energy usage in real-time on adopting predictive analytics– for instance, turning down the heat during periods of inactivity depending on historical usage patterns.
One specific thermostat serves as a worthy example of AI technology that is already extensively available. Beyond real-time monitoring, AI technology (in combination with IoT and remote management dashboards) can also discover energy leaks and operational strays like poorly-fitted HVAC ducts or a defective electrical transformer, even forecasting when these leaks are most likely to happen. This feature facilitates FM teams to better plan and strategizes around energy expenses and facility occupancy.
3. Smarter Reporting and Analytics
Currently, AI is disrupting the conventional analytics model. Earlier, facilities data had to be sorted manually, and decisions are based on an analyst’s gut feeling. AI is now automating these progressions to generate faster, more dependable insights based on an inclusive historical data review. By eliminating the potential for human biases and error, AI-enabled FM software can more competently separate capital and operational prices, advance predictability, and enhance demand forecasting