1. A system to conduct link-based operations, comprising: a host processor; a subsystem; a link coupled to the host processor and the subsystem; and a link manager coupled to one or more of the host processor, the subsystem or the link, the link manager including: a performance monitor to monitor one or more runtime performance characteristics of the link, a degradation detector coupled to the performance monitor, the degradation detector to determine a state of the link based on at least one of the one or more runtime performance characteristics, and a training scheduler coupled to the degradation detector, the training scheduler to automatically schedule a retraining of the link based on the state of the link.