Aspen Technology unveils new aspenONE version with AI features

Aspen Technology has recently unveiled the latest version of its aspenONE portfolio, adding new and expanded capabilities that aim to elevate operational excellence across design, operations, and maintenance functions. AspenTech's updated version, V14.3 May 2024, introduces extensive Industrial AI features and enhanced integration of industrial data management, alongside advancements in planning and scheduling capabilities.

Rasha Hasaneen, Chief Product and Sustainability Officer at AspenTech, highlighted the intensified focus on leveraging technology within asset-intensive industries. She noted, "The newest version of aspenONE, specifically enhancements to Aspen Unified solutions, is designed to enable customers to significantly streamline user workflows and drive the highest levels of optimisation possible."

The latest release, V14.3, integrates AspenTech's Industrial AI into its planning and scheduling functions within the Aspen Unified suite. The enhanced version allows schedulers to minimise the gap between planned and actual operations, thereby streamlining processes for refining and olefins producers. This integration promises smaller deviations and faster problem resolution, enhancing the overall efficacy of the supply chain.

Peter Reynolds, Principal Analyst with ARC Advisory Group, believes this update will provide significant improvements for the refining and petrochemical industries. "The V14.3 release provides breakthrough enhancements to help refining and petrochemical industries optimise supply chains and meet sustainability targets. AspenTech uniquely addresses Industrial AI by embedding technology into customer planning and scheduling models," Reynolds said.

Additionally, Janice Abel, also a Principal Analyst with ARC Advisory Group, acknowledged Aspen Unified's potential impact on the Manufacturing Execution Systems (MES) market. Abel stated, "Aspen Unified is a powerful solution that will have a major impact on the MES market and allow users to integrate AI and new functionalities that reduce costs, improve operations and scheduling efficiencies."

Key features of the V14.3 release include the incorporation of Industrial AI into Aspen Unified PIMS, with the availability of Aspen Virtual Advisor (AVA). This tool assists production planners in saving time, making more informed decisions, and explaining how the models impact performance and sustainability.

The update also enhances Aspen Maestro within Aspen Mtell, adding an anomaly capability that accelerates alert resolution. Aspen Mtell now features FMEA templates and KPIs for quick deployment, guided detection strategies, and risk analysis. Furthermore, AspenTech Inmation now offers direct integration capabilities with Aspen Mtell, simplifying data access and ensuring long-term maintainability.

AspenTech Inmation additionally integrates seamlessly with Aspen InfoPlus.21 and aspenONE Process Explorer, providing scalable, high-performance access with minimal production impact. The integration supports feature-rich, real-time data visualisation, reporting, and analysis at an enterprise level.

Aspen Technology continues to focus on helping industries meet the increased demand for resources sustainably and profitably. The company leverages deep domain expertise and technological innovation to enable asset-intensive industries to operate safer, greener, longer, and faster, thereby improving overall operational excellence, according to a statement from the company.