Let’s explore the intersection of predictive maintenance and generative AI and how this combination can revolutionize how businesses approach equipment maintenance. "On average, predictive maintenance increases productivity by 25%, reduces breakdowns by 70% and lowers maintenance costs by 25%." — Deloitte Analytics Institute research, The typical maintenance strategies in the industry today are preventative maintenance, corrective maintenance, and predictive maintenance. Preventative maintenance (PM) is defined as work performed on a fixed interval that is based on the original equipment manufacturer (OEM) or industry-recommended schedule [9, 10].The PM work involves replacing the equipment's recommended components and , The Evolution of Predictive Maintenance. Predictive maintenance is not a new concept, but it has evolved significantly over time. Traditionally, maintenance was a reactive process, where issues were addressed only after they occurred. However, with the advent of AI, predictive maintenance has become more proactive and data-driven., The challenge may come in knowing which technologies and process changes can support predictive maintenance operations across the business. Using AI to help forecast the future Historically, maintenance schedules may have been either based around estimates of a machine’s lifetime and projected time to failure or based on recommendations from the original equipment manufacturer., McKinsey reports that the greatest value from AI can be created by using it for predictive maintenance, generating about $0.5 trillion to $0.7 trillion across the world’s business in potential value impact. AI’s goal in predictive maintenance is simple: Analyze massive real-time data speedily to predict assets failure intelligently, so that , Learn more about how your manufacturing business can leverage AI predictive maintenance with our AI consulting services. Before jumping deeply into the impact of AI for predictive maintenance in the manufacturing industry, let’s have a look at how it is different from other traditional approaches!.