Industry 4.0 is happening. Businesses need to digitise to thrive. What will this mean for the future of asset management? Will there still be a need for structures and processes like asset management strategies and plans, or will machine learning and cognitive technologies take the lead in driving an agile approach of strategy to action? Save us from process paralysis Today, operationally focused asset management organisations are already demanding more from their asset management systems. They don’t want to be bogged down with heavy processes that hamper efficient decision making. They want the right amount of information, at the right time in the right format to make a quick decision that improves operational KPIs to delight the customer, whilst aligning to their strategic objectives. The field of asset management must keep pace with change and evolve to support more effective and efficient decision-making and action-taking. As asset management professionals, we must lead this change. But, how do we ensure our asset management approach is lean and fit-for-purpose in this rapidly evolving world of ever-advancing technologies and ever-increasing customer expectations? Data overload to information clarity Understanding how best to utilise data and technology in asset management is key. For example, IIOT...