Asset Lifecycle Intelligence – Industrial Talk https://industrialtalk.com Where Industry Meets the Power of Media Fri, 25 Apr 2025 06:28:58 +0000 en-US hourly 1 https://wordpress.org/?v=6.4.10 https://industrialtalk.com/wp-content/uploads/2022/10/cropped-Favicon-IT-Rebrand-32x32.png Asset Lifecycle Intelligence – Industrial Talk https://industrialtalk.com 32 32 Kevin Price with Hexagon Asset Lifecycle Intelligence https://industrialtalk.com/episodes/kevin-price-hexagon-asset-lifecycle-intelligence/ https://industrialtalk.com/episodes/kevin-price-hexagon-asset-lifecycle-intelligence/#respond Mon, 05 Feb 2024 15:00:00 +0000 https://industrialtalk.com/captivate-podcast/kevin-price-hexagon-asset-lifecycle-intelligence 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”.

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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, highlighting the need for effective communication and prioritization of assets in asset management.
  • Asset management and synergies in the oil and gas industry. 25:59
    • Kevin discusses synergies between different solutions and operational segments, and how they are prioritized and integrated.
    • Scott MacKenzie highlights the importance of integrating vendors' roadmaps with an organization's operational roadmap to educate customers on future capabilities and offer more audit-grade solutions.
    • MacKenzie's company is developing a knowledge management system to maintain compliance with inspections and procedures, and they are integrating project performance tools for asset investment and capital planning.
  • Optimizing business processes with AI and cloud technology. 30:13
    • Scott MacKenzie emphasizes the importance of open dialogue with clients to understand their problems and optimize solutions.
    • Kevin discusses the benefits of moving from on-premise to cloud solutions, including increased usage and reduced maintenance burden.
    • Kevin encourages Scott MacKenzie to have a dialogue about his needs and goals to determine how to best use the cloud to achieve them.
  • Asset management innovation and prioritization. 35:14
    • Kevin is a knowledgeable and helpful expert in asset management, providing valuable insights and tips for prioritizing and implementing new technologies.
    • Hexagon's innovation in asset management is vast and complex, with many new features and resources available for those looking to stay ahead of the curve.

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KEVIN PRICE'S CONTACT INFORMATION:

Personal LinkedIn: https://www.linkedin.com/in/kevineprice/

Company LinkedIn: https://www.linkedin.com/company/hexagonassetlifecycleintelligence/

Company Website: https://hexagon.com/company/divisions/asset-lifecycle-intelligence

PODCAST VIDEO:

OTHER GREAT INDUSTRIAL RESOURCES:

NEOM: https://www.neom.com/en-us

Fictiv: https://www.fictiv.com/

Hexagon:  https://hexagon.com/solutions/enterprise-asset-management

Palo Alto Networks: https://www.paloaltonetworks.com/

Hitachi Vantara: https://www.hitachivantara.com/en-us/home.html

CAP Logistics: https://www.caplogistics.com/

Armis: https://www.armis.com/

Saviant Consulting: https://www.saviantconsulting.com/

Industrial Marketing Solutions:  https://industrialtalk.com/industrial-marketing/

Industrial Academy: https://industrialtalk.com/industrial-academy/

Industrial Dojo: https://industrialtalk.com/industrial_dojo/

We the 15: https://www.wethe15.org/

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