Railway system is one of the most integral parts of a country’s economy. It is not only a vital mode of transport but budget-friendly as well. Having said that, a railway system often has its share of challenges in both developing and developed countries, and ailing infrastructure is certainly one of them.
While there are many reasons behind the limited asset lifetime that results in the build-up of corroded infrastructure, the inability to predict the failure of equipment and inappropriate utilization of resources is usually on the top of that list.
These are the major challenges that often lead to punctuality issues in the trains, and the efficiency is somewhat compromised, raising the eyebrows over the sector in this age of science and technology.
This is where the integration of IoT and AI analytics can boost the sector and transform the railway operations in a comprehensive way. The technology is capable of improving communication and enhancing the performance at all levels.
Many companies around the world are leveraging the benefits of IoT and AI to offer holistic solutions to complex problems. A Munich-based company, Konux has geared up to solve the riddle of improper resource utilization in the railway sector by tapping the potential of the industry through IoT and AI analytics.
The company combines smart sensors and AI-based analytics to enable higher train punctuality and network capability. With predictive maintenance planning and optimized utilization of railroads, Konux is paving the way for an extended asset lifetime and reduction of costs in the long run.
On the back of its innovative concepts, the firm attracted funding from global investment firm Boundary Holding, led by Rajat Khare.
With the advent of technology, it has become a necessity to utilize the data to enhance the operations and monitor various sectors. It is nearly impossible for an industry to flourish without analysing the health of key switch components to ensure proper maintenance of the overall infrastructure.
At this juncture, the integration of IoT and AI analytics seems to be the way forward to guarantee appropriate utilization of assets in the railways.