IT departments are becoming much more complex and difficult to manage as the industry grows and the number of devices being used expands. Asset tracking in particular is becoming more difficult and tedious, which is dangerous due to security breaches and compliance issues. IT Asset Lifecycle Management (ITALM) is a process that handles all IT devices from procurement through retirement. Artificial intelligence will be a major asset to the industry, and we already see it being used in automation for ITALM. Let’s explore how AI will be implemented in IT asset management and what that might look like in the future.
We’re Outgrowing Traditional ITALM Methods
Traditional IT Asset Lifecycle Management methods are becoming insufficient for what we need them to do, given how much they can handle and the level of detail required. One of the bigger issues is manual tracking, as it’s inefficient and leaves a large margin for human error. These blind spots can lead to security breaches, documentation gaps, and compliance issues. The single most difficult part of ITALM is ghost assets, which appear to remain in use in the inventory system even though they are not active and have been recycled or disposed of. Additionally, another problem we are running into with the current method is audit pricing. Audit prices are becoming much more expensive; almost one-fourth of organizations have spent over $5 million on audit costs over the past three years.
How AI Will Change ITALM: Step-By-Step
Each step in the ITALM will utilize artificial intelligence in its own way, making it important to understand how AI can change the current process, step by step.
Procurement Stage
During the planning and procurement stage, artificial intelligence will analyze data, usage trends, and business growth forecasts. This will be used during the procurement stage to take the guesswork out of what to buy, when to buy it, and how much to buy. AI predictive models will become more popular for determining the lifecycles of assets and investment plans by analyzing data and trends. Involving AI in the procurement process shifts it from reactive purchase decisions to a more strategic, planned investment.
Deployment & Discovery Stage
During this stage, AI-powered tools can automatically scan networks and take inventory of every device without the need for manual input. This helps prevent human error and alleviates the need for this process to consume labor, since it’ll be done automatically. These automated tools will scan your network to identify all connected devices so they can be accurately documented.
Operations & Maintenance
Operations and predictive maintenance are one of the biggest roles that AI will play. The predictive maintenance aspect can make a huge difference in the labor required for maintenance and in checking the equipment to determine whether maintenance is needed. With artificial intelligence, you can expect 30% to 50% reductions in planned downtime and an extension of 2% to 40% in an asset’s lifetime.
Retirement & Disposal
The retirement and disposal methods for devices will be impacted by AI, primarily by alerting organizations early to a device’s end of life. Essentially, artificial intelligence will be able to alert on assets approaching the end of their lifecycle and trigger workflows for data wiping, remarketing, recycling, and disposal.
IT Asset Lifecycle Management & Security
When it comes to security, ITALM plays a huge role in maintaining proper security for untracked devices. These devices that aren’t tracked can create a potential entry point for threats. Still, proper IT Asset Lifecycle Management can help flag security issues such as unpatched devices or unauthorized software installations. In particular, it will help address two current issues we see in the industry: SaaS apps being adopted without IT approval and former employees still having access to company software. ITALM is not just a housekeeping function for organizations, but it’s becoming a critical part of their security measures.
How Organizations Are Using ITALM
IT Asset Lifecycle Management has become a major part of organizations across the globe, and we’ve seen them implement these practices in different ways. According to the 2024 Enterprise Strategy Group Technology Spending Survey, IT ranked among the top 5 for key initiatives with ROI in organizations. Additionally, it’s been shown that those who use ITALM will solve incidents 50% faster. We’re seeing AintAI integrated into these IT Asset Lifecycle Management practices; these capabilities are seamlessly embedded into modules, making it a viable option for organizations.
Implementing a Secure IT Asset Lifecycle Management Strategy
If you’re an organization that uses ITALM, then it’s crucial to ensure your strategy supports security as best as possible. Security is one of the most important aspects of business, and with IT assets, there are more entry points for threats than ever. Companies should implement an ITALM procedure that puts security at the forefront, creating a plan that supports the business while keeping it secure and compliant. With artificial intelligence, these IT Asset Lifecycle Management procedures will become much smarter and more efficient. We can expect to see these practices increasingly adopt AI; as organizations implement AI, they will gain benefits such as predictive maintenance, end-of-life cycle organization, automation, and smarter technology that can better support the business without adding more labor. As we continue to expand our technology assets and the extent to which they are used, we will need smarter practices to reduce manual work on repetitive tasks. Like most other areas, ITALM will continue to adopt artificial intelligence to improve automation, efficiency, and accuracy. Contact ITAD Daily today to learn more!
