Industrial Talk is chatting with Kevin Prices, VP Portfolio Strategy and Enablement at Hexagon Asset Lifecycle Intelligence about “Innovation and insights into Hexagon's Asset Lifecycle Intelligence Solution”.  The following is a summary of our conversation:











Industry innovation and asset management with Kevin Price. 0:04

Kevin Price discusses asset lifecycle intelligence with Scott MacKenzie on Industrial Talk.
Scott MacKenzie is excited about the latest developments at Hexagon and how they're helping companies succeed.


EAM and its innovations. 4:28

Kevin discusses Clemson's football team, mentioning their rivalry with South Carolina and the importance of beating them.
Kevin also talks about EAM, a software company, and their latest release, version 12.1, which includes updates for both cloud and on-premise versions.
Kevin discusses how the company's new tool, Constraint Optimizer, helps customers analyze and solve complex industrial maintenance problems using artificial intelligence and machine learning.
Kevin explains that the tool can be used with pre-built logarithms or custom Python scripts, and is more familiar and easier to use for graduates who are more familiar with Python.


Leveraging AI for asset management and optimization. 9:51

Kevin explains how hexagon's patented tool, Constraint Optimizer, uses AI to optimize constraints and improve asset management.
Kevin clarifies that hexagon is not an AI company, but rather an automation company that uses AI within its product platforms.
Kevin highlights the potential of AI to solve problems and reduce risk in a particular vertical market.
Kevin discusses how the company's technology can provide an optimization experience and help businesses stay competitive in their respective markets.


Using AI to optimize maintenance schedules. 15:25

Kevin discusses dynamic checklists in Teleflex SQL, allowing for more efficient and customizable inspections.
Kevin envisions using AI to analyze sensor data and make decisions in real-time, streamlining inspections and reducing manual effort.
Kevin discusses the importance of normalizing data to reflect regional differences and making decisions based on historical data and experience.
Kevin highlights the need to consider lead time for parts and contractor ratings when making decisions about asset maintenance.


Managing and monitoring assets with a focus on risk and priority. 21:11

Kevin discusses the importance of data analysis in decision-making, highlighting the example of PepsiCo's data lake and the need to balance the level of data analysis with the risk and potential impact of failure.
Scott MacKenzie agrees, noting that analyzing all data on a plane is not feasible due to the high risk of failure and the need to prioritize data analysis based on risk and importance.
Kevin emphasizes the importance of identifying and monitoring critical assets, such as light bulbs in high-traffic areas or equipment in surgery rooms, to ensure timely alerts and minimize downtime.
The CEO wants to be informed of any equipment failures or issues,...