Well, last week we talked about the star of the moment: ChatGPT. In one week, a lot has happened. News said that ChatGPT will be paid, others saying that Google already created a competitor – Bard (they wouldn’t let it be cheap, I was sure of that), Bill Gates already gave his vision about the technology and chaos is already established.
But my role is not to predict the future and bring crazy predictions. Let’s get down to business: how ChatGPT and Generative Artificial Intelligence will impact the asset management industry. Want to see what ChatGPT itself told us? Here goes… “The relationship between generative artificial intelligence and asset management via the Internet of Things can revolutionize the way companies interact with their assets. The combination of these technologies can enable real-time asset monitoring and analysis, allowing companies to optimize performance, identify problems early and reduce operating costs.
Generative artificial intelligence actively engages with physical components and digital analytics to create a predictive model of future performance. This technology provides a more holistic picture of any system it interacts with, analyzing real-time data and making predictions about how assets are likely to behave. It allows companies to plan taking into account possible short-term variances.
The Internet of Things (IoT) provides the connectivity for Artificial Intelligence to work properly. By connecting multiple sensors, devices and systems, companies can access real-time data about their assets. This data provides valuable information for companies to make more informed decisions about their operations.
Combining these technologies opens up a world of possibilities for asset management. Predictive models can tune an asset’s performance, identify potential issues before they occur, and fix them quickly and efficiently. And companies can use data collected from IoT networks to generate more accurate predictions about how their assets will perform.
The relationship between generative artificial intelligence and asset management through the Internet of Things has the potential to revolutionize the way companies interact with their assets. By providing real-time data and predictive models, companies can optimize performance, reduce operating costs and make more informed decisions.”
Yes, this text was made by ChatGPT. And he is not wrong. But that’s what I think. ChatGPT can help us further integrate and speed up the asset management process. Soon, voice commands will allow even more interaction between humans and machines. The sky is the limit and we are ready for it.
And you, what do you think of this technology and how will it impact your daily life? See you next week!