US Patent Issued to International Business Machines on Jan. 28 for "Asset replacement optimization based on predicted risk of failure" (American, Chinese Inventors)

ALEXANDRIA, Va., Jan. 29 -- United States Patent no. 12,210,403, issued on Jan. 28, was assigned to International Business Machines Corp. (Armonk, N.Y.).

"Asset replacement optimization based on predicted risk of failure" was invented by Dzung Tien Phan (Pleasantville, N.Y.) and Lan Cao (Beijing).

According to the abstract* released by the U.S. Patent & Trademark Office: "In some implementations, an optimization system may obtain health information identifying different measures of health of an asset. The health information identifies end of life information regarding an end of life curve of the asset and an effective age of the asset. The optimization system may determine, based on the health information, a hazard curve for the asset. Th...