Itron Collaborates with VODA.ai to Pinpoint Water Pipe Failure with Artificial Intelligence

Rhea-AI Summary

Itron (NASDAQ: ITRI) has partnered with VODA.ai to introduce Pipe Asset Management, a solution designed to help water utilities identify, predict, and prioritize water pipe replacements using artificial intelligence. Combining Itron’s detailed meter data with VODA.ai’s daVinci™ AI engine, the tool analyzes existing utility data and public data such as soil and terrain to pinpoint at-risk pipes. The collaboration aims to reduce costs and improve decision-making for utilities, with an emphasis on identifying and managing non-revenue water and lead pipe replacements. This initiative addresses the significant issue of aging water infrastructure, with 20% of U.S. and Canadian water pipes past their useful life. Itron's solution is globally available and will be showcased at the AWWA’s Annual Conference & Expo (ACE24).

Positive

• Itron and VODA.ai collaboration introduces an AI-powered tool to improve water pipe management.
• Pipe Asset Management leverages Itron’s comprehensive data and VODA.ai’s AI for better decision-making.
• Aims to reduce costs for utilities by accurately identifying and prioritizing pipe replacements.
• Addresses the critical issue of aging water infrastructure, with 20% of pipes beyond their useful life.
• Enhances the ability to identify lead pipes and manage non-revenue water.
• Global availability of the Pipe Asset Management solution.
• Showcasing at ACE24 offers increased visibility and potential customer engagement.

Negative

• Dependence on accurate existing utility data and public data for effective AI analysis.
• Potential high implementation costs for utilities adopting the new technology.
• Challenges in integration with existing systems and training personnel on the new tool.
• Long-term effectiveness and reliability of AI predictions remain to be proven.

Insights

Tech Expert

The collaboration between Itron and VODA.ai to deploy AI-driven solutions for water pipe management is a significant step forward in utility technology. The use of VODA.ai’s daVinci™ AI engine, integrated with Itron’s detailed meter data, offers impressive predictive capabilities. This technology can accurately pinpoint which pipes need attention, thus potentially saving utilities vast amounts of money by preventing unnecessary replacements and focusing on critical areas. AI-powered predictive maintenance is becoming a key area in utility management, helping reduce operational costs and improve service reliability.

Financial Analyst

From a financial perspective, this collaboration has the potential to bolster Itron’s market position. By offering a comprehensive solution that can lead to substantial cost savings for utilities, Itron could see increased demand for its products and services. Additionally, penetrating the vast water utilities market with an innovative AI solution can drive revenue growth. This partnership and the introduction of such technology could also enhance Itron’s brand reputation and market competitiveness, leading to longer-term financial benefits.

Pipe Asset Management Software Allows Utilities to Make Informed Decisions

LIBERTY LAKE, Wash. and BOSTON, June 06, 2024 (GLOBE NEWSWIRE) -- Itron, Inc. (NASDAQ: ITRI), which is innovating new ways for utilities and cities to manage energy and water, and VODA.ai, which helps utilities by performing AI-based analyses, are collaborating to simplify how water utilities identify and predict which pipe assets need to be replaced, rehabilitated or contain lead. Through this collaboration, Itron will introduce Pipe Asset Management, a solution that helps utilities reduce costs associated with pipe replacement decisions. The solution combines detailed meter data from Itron’s end-to-end water portfolio with data the utility is already collecting and is powered by daVinci™, VODA.ai’s industry-leading Artificial Intelligence (AI) engine.

Approximately 20%, or 452,000 miles, of water pipes in the U.S. and Canada are beyond their useful lives and need to be replaced, according to a study by Utah State University. By using data the utility already collects, such as GIS data and historical pipe failure data, as well as data collected through Itron's water solutions, including Temetra, analytics and advanced metering infrastructure data collection solutions, Pipe Asset Management proactively mines public data, such as soil, terrain, roads and other natural and synthesized features. This data feeds into VODA.ai’s AI engine and is presented in an interactive tool to identify pipes that need replacing or rehabilitating. When paired with Itron tools for identifying and managing non-revenue water, Pipe Asset Management helps prioritize capital expenditures to make the strongest impact on water loss.

“Water utilities often are faced with trouble identifying pipes that are at high risk of failure. Rather than using guesswork to select pipes for replacement, which may still have useful life, Itron and VODA.ai are helping utilities use science and AI to overcome this challenge,” said Don Reeves, senior vice president of Outcomes at Itron. “The tool’s Lead Pipe Inventory Replacement, which uses AI to identify lead composition in water pipes, is also crucial as we strive to ensure the safe delivery of drinking water now and into the future. With nearly a third of pumped water lost due to leaks in the distribution system and millions of miles of lead pipe across the United States, combining Itron’s water portfolio with VODA.ai’s AI engine daVinci^TM provides a complete solution in identifying non-revenue water loss and creating a lead-free water distribution network.”

“Our mission at VODA.ai is to simplify engineering for water professionals. Combining our solution with Itron’s existing end-to-end water solution portfolio not only aligns with our mission but allows us to extend our services by tapping into a new audience of Itron customers,” said George Demosthenous, CEO at VODA.ai. “By extending our services, we can help more utilities and water professionals make informed decisions when it comes to pipe replacement and reducing the number of lead service lines. We look forward to working together and creating a sustainable environment for future generations.”  

Itron’s Pipe Asset Management software is available globally as part of a complete solution or standalone. Visit Itron at AWWA’s Annual Conference & Expo (ACE24) booth #2013 to see a demo. To request pricing information or schedule a demo for another time, complete this form.

About Itron

Itron is a proven global leader in energy, water, smart city, IIoT and intelligent infrastructure services. For utilities, cities and society, we build innovative systems, create new efficiencies, connect communities, encourage conservation and increase resourcefulness. By safeguarding our invaluable natural resources today and tomorrow, we improve the quality of life for people around the world. Join us: www.itron.com.

Itron^®, the Itron logo and Temetra are registered trademarks of Itron, Inc. in the United States and/or other countries and regions. All third-party trademarks are property of their respective owners and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated.

For additional information, contact:

Itron, Inc.

Alison Mallahan
Senior Manager, Corporate Communications
509-891-3802
PR@Itron.com

Paul Vincent
Vice President, Investor Relations
512-560-1172
Investors@itron.com

Itron, Inc.

• LinkedIn: www.linkedin.com/company/itroninc
• X: https://twitter.com/ItronInc
• Newsroom: https://itron.com/newsroom
• Blog: https://itron.com/blog

FAQ

What is Itron's new Pipe Asset Management solution?

Itron's Pipe Asset Management solution is a tool that uses AI to help water utilities identify, predict, and prioritize water pipe replacements, combining Itron’s data with VODA.ai’s AI engine.

How does the Pipe Asset Management tool help utilities?

The tool helps utilities by reducing costs associated with pipe replacement decisions and improving decision-making through AI analysis of comprehensive data.

What problem does the Itron and VODA.ai collaboration address?

The collaboration addresses the significant issue of aging water infrastructure, with 20% of water pipes in the U.S. and Canada being beyond their useful life.

What data does the Pipe Asset Management tool use?

The tool uses existing utility data such as GIS data, historical pipe failure data, and data collected through Itron's water solutions, along with public data like soil and terrain information.

Is the Pipe Asset Management solution available globally?

Yes, Itron’s Pipe Asset Management software is available globally as part of a complete solution or standalone.

Where can I see a demo of Itron's Pipe Asset Management?

A demo of Itron's Pipe Asset Management can be seen at the AWWA’s Annual Conference & Expo (ACE24) at booth #2013.