Augmented Reality: 2017
“FARAH, can you pull up the maintenance records for this unit?”
“Sure Brian, I have it right here on the headset. Do you require any technical schematics?”
“No, FARAH. But could you take a look at the air coil and compare to the last image on file?”
“Lean in closer Brian and I will take a picture and analyze it… Looks like the present condition is worse than the maintenance picture taken last quarter. If this continues, this asset has a 63% chance of premature failure and risks $1,500 per hour of revenue. I’ve added a notification to the finance department to increase this asset’s maintenance budget for the remainder of the year.”
The Future is Now
This isn’t as far fetched as it sounds. There are several companies working to perfect the Google Glass tech released in 2013. In just a few years, all maintenance personnel will have an assistant that will rival any movie Artificial Intelligence computer. This future AI maintenance and asset accounting system “FARAH” (Fixed Asset Revenue Accrual Heuristic) will not tether personnel to digital leashes held by the finance departments via Augmented Reality. FARAH will empower personnel by freeing business units to make the best overall monetary decisions possible.
Legacy employees look at AI/AR tech as a threat. They feel as if this tech will replace them with robotic counterparts. This is actually far from the truth. AR will make employees even more valuable by leveraging their knowledge and experience. The pulley did not replace the human, it added mechanical advantage when applied in the correct way — it made one human’s force equal to 2, 3, or multiple humans. AR is the “technological advantage” for all employees from entry-level to well seasoned.
We already use a form of AR today. Anytime I need information on an asset or financial formula I “google it.” The PDF files full of operation manuals, technical guides, or standards have been a godsend to me. It makes the ones who take advantage of it “smarter.” We cannot look at this tech as a replacement for valuable human capital or a tool that hamstrings original thought. We need to keep this tech in its place — as the excellent onboarding, on-going training, and efficiency tool empowering human capital to exceed limitations.
Setting the Foundation
Before we are ready to benefit from a solution like this, we need to set asset management procedures in order. Most businesses do not have the foundations set in place to easily implement a FARAH-type of solution. This requires more than simply identifying and bar-coding each asset. The devil is always in the detail.
Are you capturing all data points possible and digitizing all documentation? Do you have a user friendly cloud storage repository for this data? Are you implementing preventive and pro-active schedules and procedures? Have you developed easy calculations and metrics to prioritize and triage maintenance of fixed assets?
No matter where your business is at in this endeavor, you will benefit from articles from sources such as The ROI Report (full disclosure, I work for them), and other groups such as Chatbot’s Life or ZDNet. No one company will have all the solutions. We all need to work together to make this a win for businesses and employees.
Have other suggested groups or articles? Leave them below. Please comment and give your opinion!
