Predicting failure requires examples of failure, labelled with what failed and when. Most plants have abundant sensor history and poor failure labelling: the maintenance record says “bearing replaced” with a date that is the date of the work order, not the date of the failure, and often not the date the machine actually started degrading.
Reconciling maintenance records against sensor history to produce usable labels is typically the largest single task in these projects, and it is where a language model contributes most — reading free-text work orders, technician notes and shift logs, and aligning them to equipment and time. That is unglamorous, and it is the step that determines whether anything downstream is possible.
The second constraint is that critical equipment fails rarely, by design. A machine with three failures in five years does not support a model that learns failure signatures. In those cases the honest answer is anomaly detection against normal operation plus physics-informed thresholds, not a supervised model pretending to predict from three examples.