Industrial digital transformation is critical to achieving new levels of safety, sustainability, and profitability--and "Industrial AI" is a key enabler of that change. Organizations are switching their focus from mass data accumulation to strategic industrial data management, homing in on data integration, mobility, and accessibility--with the goal of using AI-enabled technologies to unlock value hidden in these unoptimized and underutilized sets of industrial data. The rise of the digital executive (chief technology officer, chief data officer, and chief information officer) as a driver of industrial digital transformation has been a key influence on this trend. This has fueled the need for "Industrial AI," a new paradigm that combines data science and AI algorithms with software and domain expertise to deliver measurable business outcomes for the specific needs of capital-intensive industries. Industrial AI disrupts these industries by lowering barriers to adoption, offering new opportunities for industrial organizations to significantly reduce costs, improve efficiency, and transform their operations for the better.

Today's industrial organizations, and especially those in capital-intensive industries, stand at a crossroads for opportunity. They recognize the need to reinforce their industrial operations and complex value chains with greater resiliency, flexibility, and agility to respond to shifting market conditions. At the same time, they're investing in autonomous and semi-autonomous artificial intelligence (AI) capabilities to realize their vision of the digital plant of the future--the "Self-Optimizing Plant." Generational shifts in the workforce are creating a loss of operational expertise. Veteran workers with years of institutional knowledge are retiring, replaced by younger employees fresh out of school, taught on technologies and concepts that don't match the reality of many organizations' workflows and systems.

Aspen Technology, Inc. recently announced the general availability of the aspenONE V12 software release, which embeds artificial intelligence (AI) across the portfolio, and uses the cloud for delivery of enterprise-wide analytics and insights for increased safety, sustainability, and improved margins. AspenTech's Industrial AI solutions democratize the application of AI where it can deliver most value and is a vital step towards the Self-Optimizing Plant. "Aspen Hybrid Models are a major advance in the field of chemical engineering. 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 Centre of Excellence, Reliance Industries Limited. Aspen Hybrid Models capture data from assets across the enterprise, and then apply AI, engineering first principles and AspenTech's domain expertise to deliver comprehensive, more accurate models at enterprise speed and scale.

Aspen Technology, Inc. (NASDAQ:AZPN), a global leader in asset optimization software, today announced the general availability of the aspenONE V12 software release, which embeds artificial intelligence (AI) across the portfolio, and uses the cloud for delivery of enterprise-wide analytics and insights for increased safety, sustainability, and improved margins. AspenTech's Industrial AI solutions democratize the application of AI where it can deliver most value and is a vital step towards the Self-Optimizing Plant. "Aspen Hybrid Models are a major advance in the field of chemical engineering. 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 Centre of Excellence, Reliance Industries Limited. Aspen Hybrid Models capture data from assets across the enterprise, and then apply AI, engineering first principles and AspenTech's domain expertise to deliver comprehensive, more accurate models at enterprise speed and scale.