It seems that everyday we are hearing of a product roll-out or update involving AI and machine learning – and today is no different. Tech behemoth Oracle has announced significant enhancements to its IoT Cloud. Offering operation-wide visibility and predictive insights from connected ‘things’, Digital Twin and Digital Thread are new additions to the Oracle IoT cloud, both powered by built-in artificial intelligence (AI) and machine learning.
“IoT holds the potential to transform today’s siloed operations into a modern, interconnected, digital set of workflows with real-time visibility and responsiveness,” said Bhagat Nainani, group vice president, IoT Applications at Oracle.
“Oracle continues to push the boundaries of IoT to help our customers significantly simplify their IoT deployments. By receiving real-time data streams enhanced with predictive insights, they can reach new levels of intelligence and a much quicker realization of ROI.”
Digital Twin offers organisations a new way in which to interact with the physical world, creating a new operational paradigm. Enhancing traditional analytics approaches, Digital Twin offers a digital representation of a physical asset or equipment.
The object model includes multi-faceted views into current, historical, and predictive data, as well as operational and behavioral dimensions of that asset. This enables remote users to not only monitor the health of that asset to prevent failures before they occur, but also to run simulations of ‘what-if’ scenarios in the context of the business processes.
Digital Thread, meanwhile, leverages IoT and creates a “system of systems” by connecting traditionally siloed elements in real-time throughout the digital supply chain. By providing an end-to-end view of an asset throughout the entire manufacturing lifecycle, Digital Thread seamlessly bridges the entire supply chain process.
Not only are both Digital Thread and Twin powered by AI and machine learning, but Oracle has also announced that built-in AI and machine learning features are now fully integrated across it’s IoT solutions portfolio.
As for industry specific enhancements, Oracle has targeted Digital Field Service and the smart connected factory. For the latter, IoT Production Monitoring Cloud, SCM Cloud and ERP Cloud have been brought together along with virtual reality in order to navigate the manufacturing floor. It can demonstrate how incident detection, root cause analysis, and smart resolution are performed within minutes in a connected factory.
Digital Field Service showcases intelligent remote monitoring, failure prediction, over-the-air repair, and dynamic technician dispatch. The solution features IoT Asset Monitoring Cloud, CX Service Cloud, CX Engagement Cloud, and CX Field Service Cloud, plus the use of augmented reality (AR) for guided equipment repair.
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“Hitachi Consulting is constantly looking for industry leaders like Oracle to help clients and prospects harness the power of data and IoT to optimize operational and financial performance, outpace their competition and solve significant business problems,” said Garth Carter, vice president North America Sales, Hitachi Consulting.
“Our longstanding, strategic relationship with Oracle delivers industrial IoT solutions to digitize the physical world for manufacturing, energy, and transportation. In particular, Hitachi is leveraging Oracle IoT Applications – asset monitoring and production monitoring – that are uniquely engineered to meet specific industry and functional needs. These applications have a depth of OT, IT and IoT functionality that no competitor can match.”