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Utilities are increasingly turning to enterprise asset management (EAM) tools and software to maximize the efficiency and lifespan of plants and equipment. This is due to the rapid transition to green energy sources, increasing electrification of buildings and vehicles, and more frequent extreme weather events. Cloud computing, AI, analytics and IoT are enabling new capabilities for EAM platforms and software, such as predictive maintenance and better decision-making. IoT devices are also enhancing utilities’ collection of real-time data on asset performance, which can be used to reduce safety risks and downtime.