Absolutely.
As this is evil from a designer’s point of view, perhaps to make us feel better about this there should be
a set of issues of interest, things which get measured,
an interface for presenting their values in some format
a set of events, which is concerned with various kind of things happening, including these values changing
a protocol for communicating name-value pairs and sending event notifications
A lot of this technology is already in the modem, and to make us feel better the modem can remain dumb in that it does not need to understand the meaning / significant / purpose of these things.
Some agent that connects to the other end of this protocol on a bus of some kind - this is like SMTP which is a monster in my view - can be the bit that has intelligence, even AI, and can have a filter applied to the information and an onwards bus, plus optionally a UI, login and so on. This part is separately upgradeable, so the best software can be obtained and used with all known modems.