May 19, 2022 12:00 pm EDT

Robert Harms

EPC Lens

Artificial Intelligence and New Frontiers in Project Execution

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https://player.vimeo.com/video/599785732?h=d3c286f868

Artificial Intelligence and New Frontiers in Project Execution

PowerTalk Summary

Artificial Intelligence and New Frontiers in Project Execution

Robert Harms, the president and founder of EPC Lens, speaks with Energy.Media about the application of artificial intelligence (AI) to capital-intensive projects in oil, power generation, mining and other sectors. Drawing on his decades of experience in developing and deploying new commercial and execution strategies, Robert explains how AI will allow businesses to optimize project execution and workflows in ways that have never been possible before.

In this episode, Robert talks about the nature of artificial intelligence (AI) and potential applications of AI to capital-intensive industrial engineering projects:

  • He notes that AI is a frequently misunderstood term and offers a simpler way to think about it, describing this emerging technology as a tool for analyzing large amounts of data from disparate sources for the purpose of uncovering patterns.
  • He explains that AI has the potential to generate significant improvements in project management. These improvements are likely to arise because AI is capable of scrutinizing data vertically to figure out what can be done better. This covers every aspect of a project, including personnel, planning, procedures, execution and beyond – as well as external factors such as parts and equipment from outside vendors.
  • Additionally, he points out that AI can go beyond the conclusions it draws from physical monitors and sensors. AI modules are also capable of running highly realistic simulations – multiple, and at high speed – and use them to identify patterns and predict problems before they happen.
  • He also discusses the possibility of applying AI horizontally in addition to vertically – that is, applying the lessons learned through top-to-bottom analysis of data from individual projects to other operations in the same sector.

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