New Asset Panda Platform Brings More AI to Asset Management

Source Domain: www.govtech.com

AI is getting deeper into asset management — and in a way that, one company hopes, could help public agencies ease their way into artificial intelligence.

Asset Panda, which sells asset management software to governments, hospitals, utilities, schools, construction companies and other operations, has released a product called Ursa.

The Dallas-based firm, founded in 2012, says the new AI-powered platform “helps state and local governments manage infrastructure, equipment and public safety assets more efficiently,” while offering other advantages.

Ursa integrates AI into the Asset Panda Pro asset management system for tasks such as asset tracking, inspections and report generation. The product release comes as other gov tech suppliers are beefing up their own asset management capabilities.

A statement offered this example of how Ursa works: A worker in the field photographs equipment — that is, assets — and then requests an inspection. The Asset Panda tech analyzes the image and provides findings and then stores the results in the relevant records.

What the company calls “simple prompts” can help department leaders, meanwhile, do their own reports, and to quickly learn the availability or maintenance status of assets, which can include anything from laptops to vehicles to machinery. The tool also provides “clear visibility into asset depreciation,” according to the statement.

The company’s sales pitch boils down to this: The AI tool can replace relatively burdensome processes based on spreadsheets, bringing time savings and other efficiencies to the management of what often amounts to thousands of assets across any one government.

“It’s not a chatbot,” Justin Lackey, president of Asset Panda, told Government Technology. “It’s a real AI layer that understands the work itself. It can really build things and it builds it through natural language.”

That refers to users who…

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