The Self-Optimizing Plant Is Within Reach

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Hands holding tablet on blurred automation machine as background getty If you want to understand how the Covid-19 pandemic has begun to impact the digital-industrial revolution, one of the first things you should do is check in with AspenTech: the company’s mission is to “embed Artificial Intelligence throughout industrial manufacturing environments,” notably in the oil and gas, chemical and engineering fields. Their vision is to help customers achieve the “self-optimizing plant”, where AI helps to continuously adapt operations to maximize efficiency. They must have their finger on the pulse of the unfolding digital-industrial revolution – it’s their bread and butter. Ron Beck, AspenTech’s Director of Marketing Strategy, points to the highlights of a recent survey they conducted with energy consultant Crystol Energy.

Three insights jump out: The first is the immensely increased sense of urgency: for all ten strategic priorities listed in the survey (which include diversity and inclusion, digitalization and other new technologies, operational and employee safety, optimizing operational efficiency, defending market share, expansion and investment, diversification of assets and activities, raising capital, improving competitiveness, and environmental, social and corporate governance), the share of industry respondents who rank them as “very important” has more...