Industry’s AI-Driven Transformation: Takeaways From IFS Unleashed 2024

Industry’s AI-Driven Transformation: Takeaways From IFS Unleashed 2024

I attended IFS Unleashed in Orlando between October 14 and 17, 2024. The event served as an update and roadmap for the IFS organization, which has gone through something of a rebirth in the last few years. IFS has incorporated several new products into its portfolio through acquisition, while overhauling its executive team over the past 12 months. Alongside the predominance of purple items of clothing among IFS executives, I had three key takeaways:

1. The IFS product roadmap focuses on AI, AI and failing that, a bit more AI.
   Mark Moffat – CEO of IFS – put AI front and centre when kicking off the event. This was followed by CPO Christian Pedersen overseeing nearly two hours of demonstrations of real-world AI applications across the IFS customer base, ranging from AI-driven scheduling capabilities to procurement task management. Day two saw Bianca Nobilo, Head of External Affairs, provide a fascinating historical context for the defining role of AI in the industrial tech space, before Moffat returned to the stage to talk about integrating data and enterprise systems, alongside Boomi CEO Steve Lucas for robust insights. There can be no doubt: IFS is characterizing itself as ahead of the curve on industrial AI and wants its customers to know it. The firm reinforced this commitment through the announcement of IFS Cloud 24R2 at the event, which includes deeper IFS.ai copilot capabilities. 
   
   
2. Sustainability remains at the heart of the IFS proposition.
   It is no secret that many marketers at industrial technology providers have sacrificed sustainability as their headline differentiator on the altar of AI. Moreover, as noted, IFS focuses heavily on AI capabilities within its product suite. However, IFS has slightly altered its approach to sustainability, noting that its AI functionality helps further core industrial KPIs, such as sustainability. Sustainability also featured heavily in Mark Moffat’s keynote speech, and the event saw the release of a new ESG disclosure module within IFS Cloud, in partnership with PwC. The module is geared around solving ESG and sustainability data challenges, particularly for mandatory reporting requirements in Europe. 
   
   
3. Newly acquired firms play a major role in the IFS story moving forward.
   During the first day’s speeches, Judi Hess, former CEO at Copperleaf, was brought on stage to clarify the close relationship between IFS and the newly acquired Copperleaf. During a breakout discussion on the ‘Future of Asset Lifecycle Management’, Kevin Price, IFS’s Global Head of EAM, appeared alongside IFS COO Max Roberts and Copperleaf CEO Lance Olmstead. The panel drove home the interrelationship and strong value proposition of a combined EAM (enterprise asset management) and AIP (asset investment planning) strategy. Connected worker solution provider Poka, acquired by IFS in 2023, had a spot on the main stage discussing its work with Mars, while EAM software stalwart ULTIMO, acquired in 2022, led several highly informative breakout discussions. IFS made clear that its acquisitions (and customers!) play a massive role in its success and roadmaps moving forward.