Technology accelerates journey to self-optimizing plant

Hybrid models and embedded AI can change how process industries achieve goals

By Aspen Technology November 21, 2020

Aspen Technology, a pioneer in the implementation of advanced technologies in process control solutions, announced availability of its flagship aspenONE V12 software release, which embeds artificial intelligence (AI) across the portfolio, and uses the cloud for delivery of enterprise-wide analytics and insights.

The company says its Industrial AI solutions democratize the application of AI where it can deliver most value and is a vital step towards what it calls the self-optimizing plant.

“Aspen hybrid models are a major step forward in bringing together AspenTech’s process models and machine learning and are a game changer in process engineering and plant improvement,” said Dr. Karuna Potdar, vice president, technology center of excellence, Reliance Industries Limited.

Hybrid models capture data from assets across the enterprise, and then apply AI, engineering first principles and AspenTech domain expertise to deliver comprehensive, more accurate models at enterprise speed and scale.

“The process industries and other capital-intensive industries are experiencing new levels of volatility in supply and demand, and the need to be agile in response to all market conditions requires a new approach to asset optimization,” said Antonio Pietri, President and CEO, Aspen Technology.

“In addition, they face higher expectations for efficiency and profitability, and increasing pressure to meet sustainability targets. This next generation of Industrial AI solutions will change how process industries work. The self-optimizing plant represents the future of operational excellence, and we continue our commitment to innovate and deliver solutions that can accelerate our customers’ journey toward it.”

The new solutions in aspenONE V12 address these unique challenges with better modeling accuracy, greater insights and improved total cost of ownership that can support evolving business needs and take advantage of the new digital native workforce.