AI in AM: What is an AI-enabled AM Framework

AMP Newsletter Series - Mastering Asset Management Decisions

Topics Covered:

• Definition and role of the AM Framework in asset management decision-making per ISO 55001.

• Approach to AI enablement within AM Frameworks, including personification of activities.

• The AI adoption trajectory: Crawl, Walk, Run, and Flying phases.

• AI-enabled AM Frameworks as a tool, method, asset, and strategy.

• Integration of AI models, machine learning approaches, and future strategy formation.

Learning Objectives:

• Understand the requirements and components of an AM Framework as outlined in ISO 55001.

• Learn how AI can enable, augment, or advance AM Framework activities.

• Explore the phased approach to AI adoption in asset management.

• Recognize AI’s roles in AM Frameworks as tools, methods, assets, and strategies.

• Gain insights into ISO standards related to AI and their application in asset management.

Key Takeaways:

• The AM Framework is essential for structured decision-making in asset management, integrating organizational context, stakeholders, and risks.

• AI enablement treats AI as a “team member” that performs or enhances activities within the AM Framework.

• Adoption follows a Crawl-Walk-Run trajectory, building trust from human-in-the-loop to autonomous operations.

• AI can function as a tool for inferences and predictions, a method for advanced learning, an asset generating value, and a strategy for gamification and decision making.

• Policy and documentation like SRDs and FRDs are critical for technology-enabled AM Frameworks