Telefonica, S.A.’s ( TEF Quick Quote TEF - Free Report) digital business unit, Telefonica Tech, has teamed up with industrial equipment supplier — Grupo Alava — to unveil a predictive maintenance solution. This solution will be specifically designed to streamline and digitize the day-to-day maintenance processes of industrial companies for greater operational efficiencies. With five decades of expertise, Madrid, Spain-based Grupo Alava supports the industrial sector with new-age technological solutions and services. The entity’s tech offerings simplify processes, lower costs for customers and add a competitive value. It caters to a plethora of industry verticals such as transport & infrastructure, automotive, pharmacy & agro-food and public authorities and the financial sector. Some of its R&D projects are SMART-EASY and FANDANGO. At a time when companies are shifting toward the fourth industrial revolution, it is necessary that industries augment their maintenance capabilities and avoid extended downtime to enhance the productivity and profitability of businesses. In sync with this, the latest agreement involves integrating the joint predictive maintenance solution in the production chain by mass wireless and/or traditional sensing of critical assets. Sensorization of such critical assets and the data collected through Telefonica Tech’s LTE and 5G mobile networks will be stored and processed in Industrial Edge Computing and Big Data technology. This will enable companies to have their production plants in a single interface. Artificial intelligence capabilities and machine learning models will also be incorporated to improve the predictive maintenance plan and optimize opportunity costs and performance of the facilities. Supported by 5G and IoT technologies, the advanced data platform will be able to detect possible faults in machinery, thereby driving digital transformation. The combination of all these trailblazing technologies will enable industrial companies to not only take a giant step forward toward sustainable digitization but also improve the competitiveness and efficiency of the businesses in the international market. Currently, the predictive maintenance solution is available for demonstration at the Telefonica District Innovation Centre in Madrid. Telefonica Tech manages cyber security, artificial intelligence, cloud, IoT and Big Data businesses with the utmost efficacy. The segment manages these businesses under a single umbrella to accelerate revenue generation and facilitate the entry of new partners for lucrative business opportunities. The unit is expected to yield additional revenues of more than €2,000 million in 2022. Telefonica provides a comprehensive suite of service platforms for fast go-to-market launches. Its IoT connectivity platform has been designed to address dynamic business requirements and enable a cost-effective solution to improve business productivity. With operations across 17 countries, the Spanish telecom company is capitalizing on the opportunities in the digital world through several growth strategies to enhance long-term prospects. The company is also experiencing healthy traction in the smartphone market. Telefonica currently has a Zacks Rank #4 (Sell). The tech giant’s shares have gained 7% compared with the industry’s growth of 9% in the past six months. Image Source: Zacks Investment Research
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