This article was first published on IOTA - Medium
IOTA Joins Project Funded by Japanese National R&D agency NEDO
to Build AI and DLT-based Predictive Maintenance System
We’re proud to announce that the IOTA Foundation has partnered on a project initiated by Best Materia and IMC, Japanese maintenance-related companies, and funded by NEDO (New Energy and Industrial Technology Development Organization). NEDO is Japan’s largest public management organization promoting research and development as well as the deployment of industrial, energy, and environmental technologies. The goal of the project is to develop technology to strengthen the security, longevity, and durability of critical infrastructure assets in Japan and abroad.
By adding artificial intelligence and the IOTA Tangle technology to Risk-Based Maintenance (RBM) Systems deployed in power plants, energy plants, industrial plants, petrochemicals, and oil refining plants, the group hopes to capture a large share of the domestic social infrastructure conservation market, valued at 170 Trillion Yen (1.5 Trillion USD).
This type of predictive maintenance system that shares industry data using a distributed database is set to be the first of its kind in the world.
While damage prediction assessment based on the current RBM standards exists, most processes are still left up to field workers to do manually. To further optimize these systems, maintenance data will be digitized and processed by an artificial intelligence system to predict when and which parts in a plant are going to require maintenance. This will reduce unplanned outages, improve plant availability and lower costs by reducing unnecessary inspections and repairs.
“Creating a decentralized, open-source, and free distributed ledger technology to ensure data integrity has always been our driving purpose. As a non-profit, we are honored to see the IOTA protocol being utilized to secure a wide variety of data points in this project. Digitalizing the RBM systems for safer and more efficient industrial plants is only one of many ...
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IOTA - Medium