According to KPMG, concern over infrastructure resilience and safety has never been higher. The consulting firm notes that many of the wildfires that ravaged California this past year were thought to have been contributed to by poorly maintained power lines, while the Genoa bridge collapse in Italy and the failure of the Brumadinho tailings dam in Brazil have further shaken confidence in asset management.
In our new ebook "The 7 habits of highly effective asset management" we share a number of ways in which you can enhance your business resilience.
Asset owners are increasingly placing more emphasis on safety, maintenance and resilience across the asset lifecycle. The challenge they face is that events that turn into disruptive risks are initially identified as high consequence risks, but the expected low probability of the risk occurring does not usually anticipate the necessary business planning required for deploying appropriate mitigations.
Noting that leading organisations utilise data to identify and evaluate risks and propose solutions, KPMG forecasts that asset owners and investors will continue to go beyond traditional asset management approaches to instead think more holistically about how they ensure ongoing safety and resilience across the asset lifecycle.
AI improves business resilience through cost effectiveness, ensuring that asset managers and owners prioritise business continuity over cost reduction and minimising the impact of malfunctions on the customer and the asset’s operation.
Would you like to learn more? Download our free ebook now!