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Artificial Intelligence and the Future of Asset Management

Artificial Intelligence and the Future of Asset Management

For all of you out there who are nodding along with all the talk of AI, machine learning, Blockchain, and Human-In-The-Loop systems, but really having no idea what’s what, take heart, you’re not alone. Dr. JT Kostman is one of the world’s leading thinkers on Artificial Intelligence, and even he admits he’s not 100% sure what it means. “My best definition of AI is ‘getting computers to do the kind of stuff they do in the movies and on TV’. ....

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Why You Can’t Skip the Journey to Destination Digitisation

Why You Can’t Skip the Journey to Destination Digitisation

Digitisation offers opportunities for improvements to industrial processes that were only dreamed of a decade ago. Digital twins, autonomous vehicles, drones and remote sensors are changing the way assets are maintained, helping to extract the value desired by stakeholders. Nowhere is this disruption more evident than in the mining industry, where vast quantities of earth and rock are moved each day and even a minor improvement in production methods can result in huge financial gains. But implementing these changes requires asset ....

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Devon Energy: A Data-Assisted Asset Integrity Approach

Devon Energy: A Data-Assisted Asset Integrity Approach

In 2008, the combination of technical breakthroughs in directional drilling and hydraulic fracturing technologies started a wave of industry transformation and disruption that continues today. One US company at the forefront of this is Devon Energy, headquartered in Oklahoma City. A Fortune 500 oil and natural gas exploration and production company, Devon has some 3,400 employees and a capex of $US 2.4 billion. In Canada, Devon produces heavy oil through steam-assisted gravity drainage, producing some 35,000 barrels a day from ....

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Being ‘Bullet-Proof’ is a Flawed Definition of Resilience

Being ‘Bullet-Proof’ is a Flawed Definition of Resilience

Recently we have been delivering Mental Well-Being and Resilience programs to leaders for one of our clients, and it has become apparent that there is a flawed definition of Resilience that results in not only less effective leadership but lowered resilience. The flawed definition of resilience that I am hearing is this: Resilience is being bullet-proof and being able to handle everything that is thrown my way (Flawed Definition of Resilience). I have two key issues with this definition.  The ....

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Is Your Board Vulnerable to Stranded Asset Risk?

Is Your Board Vulnerable to Stranded Asset Risk?

Stranded asset risk is an important consideration for boards. Just as assets may become technologically redundant when they are replaced with a newer model, assets may also become politically or economically redundant. Even if you’re the best blacksmith, you don’t want to be the last blacksmith when horses make way for cars. Stranded assets are assets that suffer from unanticipated or premature write-downs, devaluations or conversion to liabilities. For example, there is potential for coal-based assets to become ‘stranded’ if ....

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