The fault diagnosis and condition monitoring of many electrical assets (e.g. induction machine, transformer, power converter, etc.) have critical importance for early diagnosis to prevent severe damage of the assets. Importantly, valuable electrical assets need continuous monitoring to enhance safety, reliability, and availability and to decrease the cost of maintenance. Therefore, many methods based on different techniques are employed as a fault prognosis and diagnosis of these electrical assets. Especially, artificial intelligence (AI) techniques have proven their significance in every field of digital technology. However, industrial machines, automation, and processes are the net frontiers of AI adaptation. So far, are there any successful practical applications of AI technologies for fault diagnosis and condition monitoring of electrical assets?