AspenTech expressed confidence that it will actively support customers in achieving sustainability through digital solutions such as artificial intelligence (AI).

AspenTech held a press conference at The Plaza on the 19th and announced AspenTech’s achievements and plans for customer support.

Vikas Dole, Head of Sustainability IBU, who led the presentation, spoke about AspenTech’s efforts to help customers achieve their sustainability goals under the theme of ‘Innovation: A Systemic Approach to a Sustainable Future.’

Vikas Dole, Business Unit Leader, said that while meeting the increasing demand for resources due to population growth and rising standards of living, sustainability goals must also be achieved, and AspenTech aims to help with this through digital solutions.

In particular, he stated that if we are to achieve the goal of zero carbon emissions by 2050, global energy demand must grow by 50% by 2050, global power generation must grow by 75%, and renewable energy must account for 90% of that.

To this end, the energy sector investment will be increased by 2050.He said that 150 trillion dollars must be invested in the future, and that companies are faced with the immediate challenges of producing, reusing, and recycling energy to achieve this.

To address these challenges, AspenTech is helping its customers achieve their net-zero goals and maximize revenue through asset optimization, and it noted that this performance generates $59 billion in annual revenue for its customers and reduces annual CO2 emissions by 16 million tons.

To achieve these results, AspenTech is actively pushing the boundaries of what’s possible in performance engineering, manufacturing and supply chain, asset performance management, geoscience and engineering, digital grid management, and industrial data management, operating to performance limits, optimizing assets by maximizing uptime through actionable insights, and extending their lifecycles, he said.

To this end, the company recently announced that it is expanding the design and operation sectors and application cases of AI machine learning by utilizing industrial AI, and providing data insights and domain expertise through industrial AI based on science and modeling.

In particular, it was mentioned that it is supporting the convergence of industrial automation technologies through generative AI, cloud and edge computing, hyperscale computing, robotics, industrial data management, sensors, and 5G.

In addition, the company said that AspenTech's emissions management solution supports tracking, forecasting and decision-making on energy consumption and CO2 emissions, and prescribes or automates actions that help achieve sustainability and profitability goals through self-optimizing assets such as self-learning, self-adaptation and self-maintenance.

In particular, he said that he is working to ensure that human decision-making is at the center of these digital support efforts.

In addition, we develop joint solutions and put customers first through partnerships, customer and customer advisory boards, and AspenTech Academy boards.They said they are working on joint innovation to solve dual challenges: ranking and use cases, idea concretization, and feedback.

In addition, examples of the hydrogen economy and CCS were introduced, as well as examples of improved profitability of major global clients.

“To address the dual challenges our customers face – achieving sustainability and improving profitability – we are combining our digital capabilities with our existing success data to achieve results in a variety of areas,” said Vikas Dole, AspenTech’s head of business unit. “In the future, AspenTech will continue to do its best to help our customers achieve success in energy security and energy transition.”