How Digital Transformation Can Set Trends In Chemical Industry

 


Digital transformation presents new ways of working, discovering new opportunities, and driving enterprises to a new level. Talking about the chemical sector, these companies can also leverage the benefits of new technologies and the fourth industrial revolution (Industry 4.0) to eliminate downtime and improve profitability. In other words, digital transformation solutions can be a game-changer for the thriving chemical sector.

Expectations of Chemical Companies from Digital Transformation Solutions

Digital transformation has started offering multiple benefits to companies irrespective of their scales and business models. Emerging technologies like IoT, digital twins, and AI can be integrated into digital transformation software to get the desired outcome. What’s more, companies can easily take the advantage of an innovative approach and drive growth through digital transformation.

A GPCA survey reveals that 63% of the chemical company CEOs have kept digital transformation as the primary element of strategy making for the next two years. As a result, they are also planning to invest 5% of their annual revenue towards completing the inclusion of Internet of Things Industry 4.0 systems and related technologies into their system.

Chemical 4.0 Trends and Insights

1. Harnessing the Power of Data

Data is the cornerstone of every industrial digital transformation process. Every equipment and firmware installed to support the digital transformation generates data.

Chemical companies must harness data and build models for its implementation in every system. From asset performance, and maintenance, to product improvisation, discovery, understanding the customers, etc. data can help improve the outcome.

Systems like digital reliability platforms (DRP) can be used to predict equipment health and set up predictive maintenance systems.

2. Production Optimization

3. Predictive Maintenance and Artificial Intelligence

Also Read : Maintenance 4.0: Scale the reliability, performance, and safety of your assets

4. Cost Savings

5. Remote Assistance and Operations

Conclusion

While these three are the pillars of every company’s growth structure, achieving them requires the utilization of the right technologies. Effective usage of these technologies can lead to operational excellence. That is why in the next three years, 2/3rd of the chemical companies are expecting to see revolutionary changes.

Do you want to become the pioneers of change in the chemical industry? If yes, you must look at effective digital transformation in chemical industry systems to help you achieve the desired results and drive growth.

Original Source: https://www.rejigdigital.com/digital-transformation-solutions-for-chemical-industry/

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