AI-driven asset management: Transforming operations with Octave InConcert

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The role of artificial intelligence in InConcert

As organizations embrace digital transformation, asset information management (AIM) has become essential for operational efficiency, compliance, and long-term reliability. Octave InConcert (formerly HxGN SDx2) is harnessing artificial intelligence (AI) to transform how engineering, procurement, and construction (EPC) firms and owner operators (OOs) manage the vast data generated across an asset’s lifecycle.

In this blog, I’ll show how InConcert uses AI to streamline AIM, deliver real-time insights, automate data extraction, and future-proof operations—while also sharing how this aligns with Octave’s broader Smart Digital Reality™ strategy.

How AI Elevates AIM in SDx2

In general, there are three main areas where AI can boost AIM:

1. Simplified metadata extraction and contextualization

2. Eased access to asset data and information

3. Supported or automated AIM workflows

Simplified metadata extraction and contextualization

In most cases, AIM solutions are tasked with handling data that was originally generated in external systems of record, often dating back years or even decades. Contextualizing this data in a manual, rule-based approach results in very high efforts and time-to-value. AI is very good at identifying patterns in diverse and heterogeneous datasets. This is why InConcert already leverages AI to simplify and accelerate this process as much as possible. Let's explore how this process works in greater detail.

1. Automated tag extraction

One of the most time-consuming tasks in AIM is manually extracting and matching equipment tags from engineering diagrams and documents. Tags are essential for connecting data to physical assets to assure consistency between what’s on paper (or in a digital file) and what exists in the real world.

InConcert uses AI to automate the extraction of tags from a variety of sources, saving hours of manual work, and reducing errors. The AI algorithms scan engineering drawings, identify relevant tags and match them with existing databases to make sure the assets data is always up-to-date and easy to retrieve. These algorithms have been co-developed with customers to ensure robust performance on a variety of drawing and document standards.

By eliminating the need for human intervention in this process, InConcert increases accuracy and accelerates workflows, permitting teams to focus on more strategic activities rather than getting bogged down by tedious data entry tasks. Soon, this service will also be able to extract and match tags from panorama images to contextualize reality capture data.

2. LLM-enabled metadata extraction

Metadata (i.e., drawing number, title, revision number) is critical in AIM because it provides context to the raw data in addition to tags. However, creating and managing it manually is labor-intensive and prone to human error. This often leads to inaccuracies, inconsistencies, and delays in data retrieval.

Since their emergence in 2022, large language models (LLMs) have continually grown in power and capability. The LLM-enabled metadata extraction in SDx2 automates the generation of metadata using a combination of clever prompting and smart pre- and post-processing techniques. This means teams can generate highly accurate and consistent metadata with just a click, making it easy to quickly search, categorize, and use asset data for informed decision-making.

Using AI to automate metadata creation reduces errors and accelerates the overall data management process, making sure critical information is always accessible and trustworthy. Soon, this approach will also be used to contextualize entire datasheets, standard operating procedures, and other various document types.

Eased access to asset data and information

AIM systems, like InConcert, serve as a central access point for reliable asset data, benefiting stakeholders in engineering, operations and maintenance. However, most stakeholders aren’t expert users of such systems. With its AI-driven contextualization, InConcert is an ideal foundation for a generative AI-based (GenAI-based) interface. Its comprehensive tag-to-object relationship network allows for seamless searches across multiple data sources.

This interface simplifies data interaction so users can simply ask straightforward questions, such as, “What’s the design pressure of vessel V-301?” and retrieve accurate that information in the required format. For example, extracting asset data to prepare work packages for maintenance technicians would be an ideal use case. This functionality democratizes the value of AIM, making it accessible to all stakeholders.

InConcert will soon feature this type of interface. With its agent-based solution architecture, it will be able to cope with more complex tasks, like supporting a root-cause-analysis, hazard and operability study or equipment selection. We envision a portfolio of specialized "skills," designed to help each stakeholder leverage the full potential of InConcert based on their specific roles and needs.

Supported or automated AIM workflows

Once an AIM is filled with accurate and contextualized data, it’s the ideal foundation to train AI models that fulfill specific tasks. For example, imagine you need to review engineering artifacts like piping and instrumentation diagrams (P&ID). AI can help identify errors made by the draftsman, such as wrong flow directions and missing connections. It could also help find wrong semantics in the P&ID (e.g., omissions of critical safety objects). Eventually, AI could even create a corrected version of that P&ID.

While InConcert doesn't yet have these capabilities, it serves as an excellent foundation by acting as a single, easily accessible data hub. Combined with the previously mentioned GenAI-based interface, we envision a suite of “CoPilots” that enhances the creation and management of asset information, ultimately leading to improved data quality and quantity.

Key benefits of AI in InConcert

The integration of AI into InConcert offers a range of benefits that are transforming AIM, including:

  • Enhanced Data Accuracy and Consistency: Reduces the margin for human error, meaning the asset data is always up-to-date and reliable.

  • Improved Efficiency and Speed: Automates workflows, like tag extraction and metadata generation, freeing up valuable time and allowing teams to work more efficiently.

  • Better Collaboration and Communication: With real-time data updates and AI-powered search capabilities, project stakeholders can access and use the same accurate information, regardless of their location or the tools they’re using.

  • Reduced Costs and Errors: By minimizing manual data entry, AI helps organizations avoid costly mistakes, rework and compliance issues, leading to improved operational performance and better bottom-line results.

Future Vision: AI and the Smart Digital Reality

Octave’s Smart Digital Reality vision is a world where data flows seamlessly between physical and digital realms, facilitating organizations to make even better, faster decisions. AI is the cornerstone of this vision and is serving a key role in how InConcert is transforming AIM.

As InConcert evolves, AI will be harnessed to democratize information management, making data more easily accessible to all stakeholders — inside and outside of the organization — from frontline operators to senior decision-makers. This will lead to the creation of fully integrated digital twins, real-time analytics and AI-powered agents anticipating and solving operational challenges even before they’ree problems.

Octave’s goal is to create a data ecosystem that fuels innovation that increases transparency and drives continuous improvement across all aspects of asset management.

Strategic shift toward AI-driven AIM

The integration of AI into InConcert marks a significant advancement in the evolution of AIM. By automating critical tasks, such as tag extraction and metadata generation, AI enables organizations to operate with enhanced speed, accuracy, and efficiency while also reducing errors.  

In today’s fast-changing industrial landscape, EPCs and OOs need tools that optimize operations and prepare them for future challenges. With its AI-powered capabilities, InConcert helps organizations manage assets more effectively now while positioning them to succeed in tomorrow’s digital environment.