Published: Jul 07, 2025

The need for intelligent asset management

Part 2 – Asset intelligence: An NCS whitepaper 

Across the energy, utilities and resources (EUR) industry, infrastructure assets are critical yet increasingly vulnerable. Aging systems, growing demand, and environmental disruptions are exposing the limits of traditional asset management, which has long relied on scheduled maintenance and historical failure data. 

Modern challenges require smarter, integrated solutions – ones that can provide real-time visibility into asset health, enable predictive and prescriptive insights, and optimise maintenance and investment decisions. This shift demands reimagining systems and approaches, with cloud-based platforms, AI, and digital twins at the centre. 

In Part 2 of our asset management whitepaper, we cover a framework for success, real-world applications and use cases for how AI is actively shaping asset-intensive operations and the transformative impact of GenAI.
 

Modernising the core: Cloud as a catalyst for change 

As enterprise asset management becomes more digitally driven, EUR organisations are reaching a common inflection point: the need to modernise their systems of record. Legacy platforms like Maximo, Infor, Ellipse, and SAP – often heavily customised over time – must now evolve to meet the demands of connected, cloud-native operations. 

Migrating to the cloud is not just a technical upgrade – it’s a strategic opportunity. Cloud-based Enterprise Asset Management (EAM) systems allow organisations to streamline outdated customisations, adopt current industry best practices, and reduce the burden of on-premise infrastructure. They also offer flexibility to scale services, connect seamlessly with mobile and geospatial systems, and serve as an integrated part of modern data platforms. 

These modernised systems support real-time integrations with IoT devices, AI pipelines, and digital twins, turning the system of record into a system of insight. For example, when you move the Maximo system to the cloud, the transition will allow for adoption of IBM’s latest industry accelerators embedded in the latest version of the product, reduce technical debt, and embed predictive maintenance models. As a result, greater value can be delivered including improved work order automation, reduced maintenance backlog, and enhanced operational transparency.
 

Why AI is now a strategic priority 

AI has rapidly shifted from an opportunity to a necessity. Today, enterprises across the Asia-Pacific region are embracing AI not just for efficiency, but also for innovation, faster time to market, and revenue growth. NCS and IDC recently completed a study into AI and digital resilience. IDC projects regional AI spending will reach US$88 billion by 2027, growing at 28.2% annually. 

While early adopters like Australia and Singapore continue to scale AI initiatives, 64% of organisations across the region are already using AI for targeted business use cases. Generative AI is gaining traction, but predictive and interpretive AI still account for 66% of enterprise AI budgets – reflecting the demand for practical, operational outcomes. 

Adoption is not without its hurdles. Technology constraints, unclear use cases, data quality, and skills shortages remain top barriers. But organisations that invest strategically, aligning AI to business goals and building the right foundations, are realising real impact, from improved maintenance and operations to smarter customer and citizen services. 

AI is no longer a siloed initiative. It is becoming core to how businesses in asset-intensive sectors deliver resilience, agility and long-term value. 

This article is an extract from our whitepaper: The new era of asset intelligence: Cloud-connected, AI-driven, future-ready for energy, utilities and resources clients that unpacks how AI, digital twins, and cloud-native platforms are reshaping enterprise asset management. Through real-world examples from NCS clients, it offers a practical framework for organisations to adopt predictive, data-driven strategies that deliver measurable gains.