How Industrial AI is Redefining Asset Performance Management to Create a World that Always Works

I joined Uptake as president three months ago. In that time, I’ve been busy getting my hands dirty on the front lines of industry. A big reason why I’m so passionate about Uptake is that our company is forged in grit. We’re headquartered in the industrial heartland. We make no small plans and are surrounded by the very machines that make our modern world work.

Machines don’t break in a world that always works. But the key to keeping them up and running is being able to predict and prevent problems before they happen, and knowing how and why machines stop working. The good news is that data is making this a reality – today. It’s no longer a thing of the future. The crystal ball has officially been democratized.

Industrial businesses are using data to digitally reimagine how they operate and to increase their productivity. It’s giving them a competitive advantage and quickly separating leaders from laggards. Further, leaders are redefining their customer-engagement models through digital, which allows them the opportunity to unlock new business models.

Graphic Best Of Both Worlds

The Best of Both Worlds: Real-Time Asset Signals Combined with the Largest Library of How Machines Fail

Uptake recently acquired Asset Performance Technologies (APT), the world’s most comprehensive library of industrial equipment failure data. With this data now part of our industrial AI and IoT platform, we’re redefining what’s possible for the Asset Performance Management (APM) market to benefit industry.

Here’s how: Uptake’s APM application combines real-time machine data with valuable lessons learned from a wealth of industrial logic – the digital equivalent of 32,000 human working years of professional industry experience and historical asset knowledge – to equip businesses with predictions and recommendations they can act on to achieve gains in productivity, reliability and safety. We believe that bringing together the value of the industrial workforce with the power of asset data is a game changer.

This is a game changer for a few reasons. Not only can our customers interpret what their assets are trying to tell them in the moment, they can compare those behaviors against a much broader, deeper population of similar asset types residing outside of their company. The result is they can detect, filter and respond to issues more effectively, and know our data-backed maintenance recommendations stand the test of time.

At Uptake’s inaugural Analyst Summit, I held a series of great discussions with top industry influencers to share our company strategy, hear their feedback and learn from their insights. Matthew Littlefield of LNS Research wrote the following in his piece, “Uptake Emerges as Potential APM 4.0 Market Disrupter”:

"The APT acquisition gives Uptake the dominant Asset Strategy Library [ASL] in the market today with approximately 800 equipment types, over 5,000 PM [Preventive Maintenance] tasks with intervals, over 55,000 FMEA [Failure Modes and Effects Analysis] rows and over 175,000 reportable conditions.”

Along the same lines, here’s what Michael Guilfoyle of ARC Advisory Group had to say in his piece, “Uptake Signals Intent for Industrial Predictive Analytics with APT Acquisition”:

"Uptake’s acquisition of a deep set of industrial asset knowledge shows strategic intent to use APT as a wedge to separate itself from horizontal analytics providers. At the same time, it also gives the company more capability to compete against entrenched vertical players.”

Personally, I’m very excited we’ve added the ASL(TM) to our platform because it means all Uptake customers automatically benefit from the deep, proven knowledge base. But we go further by actually putting this intelligence to work.

Uptake’s industrial AI and machine learning engines provide users with actionable advice on how to maintain their assets cost-effectively, how to get the most output from those machines, how to increase their uptime and eliminate unplanned downtime, and how to predict and prevent the 55,000 different ways equipment can break. It’s the definition of humans and machines, connected and working together in perfect harmony. Data is our new common language, and it’s making us better, smarter and faster. It’s allowing industrial leaders to reimagine how they run both their assets and their enterprises.

Dion Hinchcliffe of Constellation Research observed something similar in his piece, “An Industrial IoT Upstart Rises”:

“Falling somewhere between asset management and asset optimization, Uptake’s approach is a ground-up rethinking of using real-time streams of connected device data – they touted several times in our sessions that they’ve already captured over 1.2 billion hours of operational machine data which their algorithms can use as an experience base – by applying the very latest in data science tools and methods to help organizations monitor, manage, and maintain their fleets of highly valuable equipment.”

Hinchcliffe also acknowledged that we’re not just talking theory here. Uptake is busy executing and delivering real, measurable business results for our customers:

“Good execution on the tech with early case studies with ROI sufficient to drive good revenue growth.”
Graphic The Truth@2X

At Uptake, We Serve One Interest: the Truth

Every day, I feel reinvigorated about my decision to join Uptake. Why? Because what we’re doing is incredibly impactful – we’re creating unprecedented technology not to solve problems of convenience, but to solve problems of consequence. We’re doing it by giving our customers the truth about their machines and their data, and by using those facts to deliver real outcomes the world can feel. Machines don’t break, maintenance is predictable, costs are optimized and accidents don’t happen.

Since day one at Uptake, I’ve continually been amazed by our team’s unbridled commitment – to our vision and mission, to having boots on the ground on the front lines of heavy industry, and to using our collective genius to help our customers digitally transform their businesses.

As Uptakers, we dream big and think boldly. We’re laser-focused on executing across global industries that keep our world turning. Because Uptake’s singular platform works at scale within and across major industrial sectors, we deliver network effects to all of our customers that improve their businesses. Vinnie Mirchandani of Deal Architect shared this bit of wisdom in his piece, “Verticals, the Uptake Way”:

“When it comes to verticals, I have a feeling they have already contributed more and we will see more from them than we have from many enterprise vendors.”

The key for us is to stay hungry, nimble and focused on executing. In the same vein, Littlefield offered a fitting conclusion:

“To that end, the culture and vision that has been developed thus far at Uptake may well be the most agile and adaptable of any we have seen; and these capabilities will be tested over the coming years. If the company is successful in integrating acquisitions, taking on new industries, and moving quickly to ramp up new customers; there won’t be much that stands in its way.”

What are you doing to digitally transform your business? I’d love to hear about it. Connect with me on Twitter and we’ll start a discussion: @GaneshBell