The chemical industry is going through a tough time amid increasing regulatory controls, dynamic cost equations, and growing competition. Various chemical organizations are, therefore, focusing on implementing a digital transformation strategy. Operating models of chemical industries can be transformed digitally by integrating advanced solutions consisting of emerging technologies.
Digital transformation solutions have tremendous potential for the chemical sector and they can play a vital role in driving more value. However, it is necessary to make a proper roadmap to leverage the digital trends in the chemical industry. Let’s dig deep into the implementation of digital transformation in the chemical industry. We will start with technologies involved in bringing digital transformation-
Key Digital Transformation Trends for Chemical Sector
1. Internet of Things (IoT)
Connected devices, servers, and a robust network- the Internet of Things (IoT) technology enables you to make the most of data by capturing data from multiple sources including raw material supply, order fulfillment, sales, and production department, etc.
2. Data Analytics
Cloud-based storage systems enable chemical industries to store and share confidential data anytime and from anywhere. What’s more, data analytics can analyze the data effectively and provide valuable insights to the industry for making meaningful decisions in real-time.
3. Machine Learning (ML) and AR
When it comes to predictive maintenance of various equipment and getting remote assistance for remote monitoring, assistance, and repair, ML, AI, and AR (Augmented Reality) technologies lend a helping hand. A few robust digital transformation solutions providers have AR-powered platforms for connecting and collaborating with experts remotely.
4. Blockchain
This technology is known for offering secure and transparent methods to product, material, and supply-related transactions. It also ensures secure and swift online transactions for assets and products.
All these technology trends can assist the chemical industry to optimize processes and increase productivity. Let’s understand the scope of digital transformation solutions in chemical enterprises or plants.
Original Source: Digital Transformation in Chemical Industry – Scope and Implementation
