Sustainability is high on the agenda at Smith Institute. We help our clients to achieve the environmental targets stated in the Path to Net Zero, by enabling digitisation, optimisation and forecasting. As UK’s industry completes the energy transition to renewable energies, we know that businesses and sectors are going to need to make significant changes to their operations, policies and modelling. These changes will involve large and complex investment decisions in different areas of capital expenditure, plus operational and personnel resources. It’s therefore vital that companies have confidence in their decision-making processes to plan for and prioritise investment decisions. Whether it’s the assurance that their current decisions are efficient and effective, supported by modelling that reflects reality, and can be trusted to base crucial decision on, or forecasting the impact of future decisions and the direction and strategy of the business. Having the confidence that the critical decisions being made are supported by the most accurate and reliable modelling, forecasting and insights means reduces risk and enables the march towards increased industrial sustainability can have a sure footing.
We know that sustainability also means minimising wastage and doing more with less. Our AI, machine learning and algorithms can identify efficiencies and optimisations that can help businesses identify areas and processes that can be made leaner. The application of machine learning to asset management takes the guesswork out of inspections. We enable our clients to save valuable time and therefore cost with asset-specific predictive models. The condition monitoring of assets over time, builds up a trend curve, ensuring costly inspections are targeted and timely. The predictive maintenance models can also help extend the lifespan of existing assets, from vehicles to nuclear reactors. Safe sustainability requires the identification of areas of improvement and the confidence that comes from understanding the results that the changes will have for key business decisions.
