With more than 12,000 registrants, we kicked off our largest ever OPTIMIZE experience this morning with a Keynote by AspenTech CEO Antonio Pietri: The Future Starts with Industrial AI. Antonio talked about the role AspenTech has played over the last 40 years, consistently innovating and moving our customers forward on their journey to the Smart Enterprise, or Self-Optimizing Plant.
“The SOP is self-learning, self-adapting and self-sustaining – with equipment and process help pervasively monitored.”
– Antonio Pietri
What does this mean for the process industries? It means there is now real-time monitoring of process and equipment health. To further enhance our solutions in this area, this year we acquired Camo Analytics and OptiPlant. Camo Analytics strengthened our offering to the pharmaceutical industry, solving complex problems using powerful multivariate analysis to drive less deviation and higher yield. OptiPlant 3D integrated modeling software allows for increased flexibility and data during the design phase of a project. Our recent V12.1 release includes First Principles-Driven Hybrid Models embedded within Aspen HYSYS and Aspen Plus, bringing AI directly into our simulators.
We are using a “Lego Brick approach” – in which components are implemented as building blocks to create a “Smart Value Chain” that will help and become the “control tower” in the process, providing a direct, positive impact on supply chain distribution and logistics.
We understand implicitly that this bold of an initiative requires partner relationships. Hexagon, an AspenTech partner, has already embedded OptiPlant technology into their Smart 3D Tech product – further evidence that there is a real synergy between our solutions and business, and those of our partners and customers.
Industrial AI is about accelerating value – i.e., business transformation through digitalization, a concept which was front and center today.
This was a very prominent topic in the session The Sustainability Imperative, now available on demand. Each of the panel members gave their view on why digital transformation ultimately requires a business transformation in most organizations. Speakers from Phillips 66, McKinsey and Co, MOL Plc and SABIC provided their viewpoints on the circular economy, agreeing that we need to take a more circular view of the value chain, which requires what Dr. Bob Maughon (SABIC) called a “business model transformation.” Béla Kelemen of the European Refining Association concurred and called for a first step that includes changing mindsets, which he believes will then change the barriers to success. He compared this transition to the transformation of a caterpillar to a butterfly.
Zhanna Golodryga, SVP, Chief Digital and Administrative Officer, Phillips 66, talked about the role digitalization has played in transforming how we work now, focusing on the role of data. She emphasized that digital transformation must be based on real data. Technology makes that easier and safer, providing the tools at our fingertips, and mimicking the way we have always done operational rounds, but more efficiently. AspenTech, she said, is instrumental to our industries and how they operate. To sum it up, Béla described three roles in accelerating the use of AI and digital technologies:
- Helping industries to accelerate their digital transformation
- Efficiency: Increasing productivity and reducing waste
- Exploring alternatives with robust, data driven information
Looking at the increase in data over the last three years, as well as the number of connected devices around the world, a big, fully data-based transformation is looming. This change will allow companies to keep employees out of dangerous situations and drive huge cultural changes. The ability to create a cultural change will drive greater optimization across the value chain, expanding the number of new and more sustainable sources. As our CEO said during his Keynote, “Business transformation is essential to meet long-term business and sustainability objectives.”
Day one of OPTIMIZE 21 provided insightful and meaningful conversation. We are certain tomorrow, day two, will bring more discussion and collaboration, providing another step towards a more sustainable future.
Tune in tomorrow for these featured sessions:
- Keynote session from Tracey Countryman of Accenture
- Keynote session on sustainability featuring AspenTech experts
- AIoT Track Session presented by AspenTech's Frederic Bastien
- The Role of Design in Meeting Sustainability Targets, featuring EPC industry leaders
- Pharma Industry Session: Digitalization’s Role in the Future of Pharma
View the full Day 2 agenda here.