  In wireless industrial networks, the information of time-sensitive control
systems needs to be transmitted in an ultra-reliable and low-latency manner.
This letter studies the resource allocation problem in finite blocklength
transmission, in which the information freshness is measured as the age of
information (AoI) whose maximal AoI is characterized using extreme value theory
(EVT). The considered system design is to minimize the sensors' transmit power
and transmission blocklength subject to constraints on the maximal AoI's tail
behavior. The studied problem is solved using Lyapunov stochastic optimization,
and a dynamic reliability and age-aware policy for resource allocation and
status updates is proposed. Simulation results validate the effectiveness of
using EVT to characterize the maximal AoI. It is shown that sensors need to
send larger-size data with longer transmission blocklength at lower transmit
power. Moreover, the maximal AoI's tail decays faster at the expense of higher
average information age.
