AI-based Digital Assets Management Solution
A client who is working with high-profile aviation companies approached us to unite their asset data on the intelligent blockchain network.
The earlier traditional method that was used to manage and transact the assets, involved paper-based and fragmented approach, which was inefficient. After a proper discussion and analysis of the problem, we decided to leverage the potential of AI in asset management to come to a solution. We aimed to develop an AI-based Assets management solution, to digitize the global aerospace supply chain and create digital passports for each asset.
Hurdles in the industries
We took the ride to develop the digital Asset management software to overcome the following hurdles in the path.
- Incomplete information regarding aviation assets: There are trillions of assets in the aviation industry. The stakeholders have a negligible idea of who owns the assets and under what conditions.
- The tedious ownership transfer process: The entire process of aviation ownership transfer is laborious. It consumes a lot of time and efforts to review thousands of documents by several teams of skilled personnel.
- Inefficient paper-based management of assets: The traditional method that involves the paper-based management of assets is not worth the time and pain that it consumes. A large quantity of paper documentation is required for the Aircraft and their parts which assist in the management of asset and compliance.