Self-Optimizing Plants Becoming Reality As AI & SW Take Over; Leads to More Productivity, Less Cost, & Probably Fewer Workers; Retraining Now Paramount

SITUATION:
Asset Performance Optimization tool suite for manufacturing sector now in use.
This Asset optimization software will lead to self-optimizing plants.
Aspen Technology is global leader in asset optimization software for industrial plants.
Has new “AIoT Hub” technology that will likely lead to self-optimizing plants.
Aspen SW provides ESG: clean tech, & sustainability & helps company profitability .

SIGNIFICANCE:
A Self-Optimizing Plant is powered by Industrial AI & Programmed processes.
VUCA environment, organizations are turning to digitalization and Industrial AI.
Developing autonomous & semi-autonomous processes in manufacturing.
Producing new levels of safety, sustainability and profitability.
Companies striving to drive higher margins by enhancing existing processes.
Seeks to reduce the gap between planned and actual performance. 

What this means to Industrial Plant Technology:
New refineries, chemical plants, & processes designed & built from ground up.
Will use OT devices- sensors, monitors, industrial controllers, control valves.
OT Setup around the plant in order to sense, monitor and control the process.
Aspen recently launched a new product , called “AIot Hub” using this technology.
Cloud-based architecture to automatically collects real-time raw process data.
Uses Data analytics & machine language (“ML”) plus AI applications.
Will be the future of process control in the 21st Century.
Ultimate vision is to – eventually – enable a self-optimizing plant.

SOLUTIONS:
Asset optimization software being used in capital intensive businesses including manufacturing;
Such as upstream oil and gas production, refining, chemicals, & big pharma.
SW embeds artificial intelligence (AI) across the portfolio.
Uses cloud technology to deliver enterprise-wide analytics and insights.
Provides increased safety, sustainability, and improved margins

SOURCES:
1) AI Solutions Accelerate Journey to Self-Optimizing Plant – Article by Gary Parr – https://www.efficientplantmag.com/2020/10/ai-solutions-accelerate-journey-to-self-optimizing-plant

2) Aspen Technology’s aspenOne v12
3) Efficient Plant, E-Newsletter Publication

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