What is the value of a human?

How enterprise asset management helps you get the best out of your most precious asset

We hear about technology taking over our jobs and the world happily humming along without any human involvement. It might sound possible, but it isn’t going to happen. Do you know why? Because there is nothing more valuable than human imagination and ingenuity. It’s what drives innovation and stimulates progress. The one important thing that machines are going to do for us is remove the monotony of tedious tasks. Then, we can apply our unique human talents elsewhere – where they’re more likely to make an impact. That’s why innovative organizations use technologies such as enterprise asset management (EAM) to free up employees’ time.

Recently, I spoke with Ray Miciek of Aquitas Solutions about this connected technology and how it’s helping employers relieve their staff of low value tasks. This subject is especially important in the current U.S. business environment where we suffer from labor shortages in many industries.

 

Too much work. Too few workers.

With a current unemployment rate of 3.7%1, the U.S. market is at full employment. In other words, there are more jobs available than there are people to fill them. While this may be an ideal situation for economic statistics, it’s problematic for employers. What has caused this shift? Demographics and increased demand.

Baby boomers are reaching the age of retirement at an unprecedented rate. Currently, about 10,000 people turn 65 every day. Expectations are that this number will increase to 12,000 per day over the next 10 years. To put it into context, the Census Bureau reports that every baby boomer will be over 65 by 20302. That’s a huge loss of experienced, knowledgeable labor that must be replaced by a smaller, younger generation.

When you add to this demographic shift the increase in workforce demand due to expansion, employers compete aggressively for the best and brightest. As they do so, they look for other ways to meet their increased production and service needs.

Welcome to the era of connected technology

The introduction of high speed Internet and cloud technologies helps to ease the problem of a shrinking workforce. Through the implementation of sensors and meters, tasks that used to take a human several hours to complete, machines can now finish in milliseconds. No longer does a technician need to visit a home or facility to read a meter; the information is sent electronically. Even maintenance technicians save the time and trouble of an on-site visit through sensors and other devices that send a constant stream of information.

These remote systems not only mitigate the need for on-site technicians, they enable better decision making. With relevant digital data automatically sent to the cloud, it can be collated, analyzed and studied by AI to determine the best course of action. Faster and better than ever before.

Enterprise asset management (EAM) has brought tremendous efficiency, accuracy and cost-savings while helping to free up the valuable time of workers. And more professionals use IBM® Maximo® than any other EAM solution on the market. It’s so widely accepted and highly acclaimed that IDC MarketScape recognizes is as a leader in the cloud-enabled, asset-intensive EAM application.

Learn more about Maximo Enterprise Asset Management

Find out how you can use Maximo EAM to automate repetitive, tedious tasks that no longer require human intervention. Provide a more rewarding and enriching workplace for your employees. Help your organization give even greater value to the humans you value so much.

Check out our Maximo demo

 

SOURCES:

1 U.S. Department of Labor Statistics, July 2019, https://www.bls.gov/ces/

2 U.S. Department of Commerce, September 2018, https://www.census.gov/newsroom/press-releases/2018/cb18-41-population-projections.html

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