2018 Spring Meeting and 14th Global Congress on Process Safety
(125a) Smart Systems for the Process Industries
Author
ABSTRACT for AIChE 2018 Spring Meeting
Smart Systems for the Process
Industries
Samvith Rao and James C Cross III
The MathWorks, Inc.
508-647-4487
An unprecedented and increasing level of device and computing capability
and connectedness is intensifying competition and paving the way for new
business opportunities. The challenge for existing companies and new ventures
alike is to: determine what information is important; decide how to collect
and process it; and conceive, develop, and offer new products and services that
deliver value from it. This is the aspiration of the Industrial Internet of
Things (IIoT), and Industry 4.0.
Specifically, the proliferation of inexpensive sensors, wireless
communications, big data and cloud infrastructure, machine and deep learning algorithms,
and ever-faster high-performance computing platforms is ushering in a new era
of intelligent and autonomous systems, including self-driving cars, smart industrial
systems, and automated warehouses. Moreover, the confluence of these
technologies has given rise to a new type of industrial asset a virtual, real-time
replica of a companion physical system, the so-called digital twin
that can be leveraged for a wide range of operational benefits, including process
optimization, predictive maintenance, fault detection, model-based control, and
dynamic pricing.
In this talk we describe the individual enabling technologies, present
examples of how they are being developed or used commercially, and offer
perspectives on their adoption and potential within the process sector.