Operations & Maintenance

Driving the Next Wave of Innovation 

 With the rise of the digital economy and the exponential growth of artificial intelligence (AI), data has become an even more valuable intangible asset. At the Hexagon LIVE Make Data Make Sense Series event held in Dallas, Texas, Hexagon’s Asset Lifecycle Intelligence division’s partners — Accenture, Amazon Web Services (AWS), Capgemini, FTI Consulting, Microsoft and Stratum—took the stage to discuss topics such as generative AI, cloud computing, the future of enterprise digital transformation and strategies for Excellence in Data Utilization. 

 During the sessions, guests shared thoughts on the exponential growth of AI and its profound impact on global industries. Here are some of the noteworthy takeaways 

The Data Challenge 

Did you know the average person generates a staggering 1.6 megabytes of data every second? Traditional organizational structures, rooted in the Industrial Revolution, fail to meet the demands of modern data management. Panelists identified two primary obstacles for chief data officers (CDOs): a cultural one, characterized by the "my data, my silo" mentality and a technical one, referencing the aspect of having the technical infrastructure to bring data together. Although the technical challenge often proves easier to address, the cultural barrier demands considerable effort to overcome.  

 CDOs will need to dismantle data silos and build partnerships across departments to manage the complex data better. Data should serve as a shared resource rather than a proprietary asset. Without robust data management, AI innovation remains limited, making it essential for companies to address the data challenge head-on before embarking on new AI-driven initiatives. 

The Experimentation Approach 

Leaders will need to adopt a mindset of continuous experimentation to keep up with changing technology. Just as Generation Z tests, learns and embraces new apps quickly, companies can also accelerate their digital maturity evolution by rapidly trialing new technology. Even if some pilots fail, they provide valuable lessons. This approach can help companies understand new technologies better and reduce risks before making big investments. 

To be successful with this approach, panelists suggested that companies start with a specific business problem, process it through the AI pipeline and assess whether the necessary data remains accessible and utilized effectively at each stage. This iterative method refines the data strategy over time and helps ensure that AI initiatives directly contribute to better business outcomes. Decisions made through 'two-way doors'—reversible decisions that allow for quick corrections—help teams pivot swiftly when something fails, reducing the risk  from experimentation. This process can help allocate resources efficiently and prioritize business challenges over IT problems. 

Think Big, Start Small, Scale Fast 

The future of AI lies in ‘think big but start small.’ Companies can solve significant business problems with AI experimentation and data strategies in manageable, scalable ways. They can then gradually build a culture of innovation that permeates the entire organization and leads to sustained growth and success. Industry panelists said people often talk about massive digital transformations. Steve Brindle, managing director of Accenture, said, “Still, if companies don't have the vision or budget, it's better to start with a smaller initiative that can make a noticeable impact.” 

Power of Digital Twins 

One of the most exciting AI applications involves the development of digital twins—virtual replicas of physical systems that simulate and optimize performance. As sensors and data collection advance, the insights generated by digital twins will grow increasingly precise to help companies make better decisions more quickly. 

Digital twins empower organizations to ask complex questions about their systems and receive accurate, actionable answers. Whether to optimize an oil rig's performance or predict maintenance needs for a fleet of vehicles, digital twins offer a powerful tool for greater operational efficiency. 

Transform the Company 

Digital transformation refers to the integration of digital technology into all areas of a business, fundamentally changing how companies operate and deliver value to customers. The panelists agreed that the term "digital transformation" often causes confusion, as true transformation is not only about transforming the digital side of the business but the way the whole company operates. Digital transformation itself is not the end goal but rather a tool to support realizing greater value and benefits, and AI will play an essential role in facilitating the journey.  

Companies that use AI effectively work smarter rather than harder to unlock new levels of efficiency and innovation. However, to achieve this, companies must consider a robust data strategy, ensure ethical AI practices, and commit to continuous learning and adaptation to create meaningful impact. Dag Boye, industry advisor for Microsoft, noted that organizations that democratize access to information then build insights and integrate those insights into business and operational processes achieve better enterprise results. 

Thriving companies will not only embrace experimentation but also strategically leverage AI to transform their operations.  

To learn more about the Hexagon LIVE Make Data Make Sense Series​ happening around the world this year, click here. And stay tuned for exciting news about our upcoming AI launch!