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How to save $39 million on your next asset inspection

Here’s a sample use case for how companies are harnessing our unique software and creating machine learning models that help them conduct faster, cheaper and safer asset inspections.  Check out the cost comparisons table below to discover how you can save literally millions on asset inspections.

Use Case #1: 

Sector: A power company

Asset:  Power poles

The problem:

With a vast network of power poles to inspect, how do they do it quickly, accurately, cost effectively without missing a defect?

The challenge:

  • The power company need to take photographs of 400,000 power poles to complete one full inspection.
  • They take approx. 5 photos per pole (that’s 2 million photos per inspection cycle)
  • Those images get uploaded to a system where a team of expert assessors analyse each one.
  • When they spot a defect, it gets flagged for repair.

The problem:

It can take up to 9 months to capture and review all those images.  That’s a long time.

The question?

Can machine learning be used in asset management to speed up the assessment of vast networks like this and do it for a fraction of the current cost?

Yes.  How? Take a look.

Here’s a cost comparison of how the image capture and assessment process is currently being done (the current way) and how it could be done (the Machine Dreams way):

Using machine learning and our unique software, we can:

  • Increase the speed of assessment – from up to 9 months to 1 week
  • Decrease the cost of assessment – from $40 m to $200,000 per inspection cycle
  • Increase the frequency of assessment – from a rolling cycle of every 9 months to every week

Imagine how many more defects could be picked up if all those images were assessed in one week, and the inspection was conducted every week, 52 weeks a year?

Imagine how much money could be saved if each inspection cycle cost $200,000, instead of $40m?

We help companies like this conduct their asset inspections faster, more frequently and more cost effectively.

Book your free demo session today to find out how we can help you do the same.