Advancements in artificial intelligence are challenging the status quo of process industry operations.
By Allison Buenemann, Product Marketing Manager at Imubit
While AI and ML aren’t new to the process industries, the use of them for closed loop optimization and control is. In their 2024 Process Optimization and Controls Market Study, ARC Advisory Group unveiled a new category of closed loop industrial technologies – Closed Loop AI Optimization (AIO). Attendees at Imubit Transcend 2024 got an inside preview of the results of the market study from Peter Reynolds, Analyst for Industrial Manufacturing at ARC. Peter emphasized the need for the new AIO category, underlining AI’s disruptive role in modernizing the operational technology (OT) landscape.
The Rise of AI Optimization
ARC has been monitoring the impact of AI on the traditional OT landscape for some time now, and saw the need to carve out the AIO category in their 2024 market study based on the following market trends –
- A shortage of APC engineers driven by dated technologies and deep technical specialization requirements
- Pressure to adopt modern technologies and better leverage the data they’ve been storing for decades to improve performance and margins, better manage energy and comply with sustainability mandates
- The focus on tougher problems requires overcoming limitations of traditional control technologies such as model fit gaps, process nonlinearities, and heavy services requirements
“We’re in the process of breaking a 40-year-old paradigm from when the first matrix controller came online,” remarked Reynolds on the creation of the new category. AIO is redefining how we think about efficiency in the process industries. The AI optimization market is already valued at $60 million with an expected annual growth rate of 20-25%, indicative of the large appetite for AI shared by process industries leadership.
Figure 1. Process Optimization and Control market categories as defined by ARC Advisory Group.
“In terms of the competitive landscape in Closed Loop AI Optimization, one of the key differentiators we see is to actually be able to write a set point to a lower level control scheme. The precision required in order to do that is really important. And the only way that we see that happening is with some of the more modern technologies like reinforcement learning. So we see Imubit as a leader being able to provide reinforcement learning as part of their overall solution.” —Peter Reynolds, Analyst for Industrial Manufacturing at ARC Advisory Group
The Leading Edge of Reinforcement Learning
Reinforcement Learning (RL) stands out as a unique form of AIO – one that’s ideal for industries characterized by high variability, providing an adaptable approach that responds dynamically to changing conditions. Unlike static AI models, reinforcement learning uses feedback from its environment to make more informed decisions over time.
Imubit leads the charge in applying reinforcement learning to industrial operations. “We don’t know of any other vendors that are doing reinforcement learning the way that Imubit is doing it,” said Reynolds. What was once considered a radical approach for conservative plant operations teams has gained broad industry adoption, with greater than 90 closed loop applications in service across the energy, chemicals, and MMM industries.
Interest-piquing Insights from the 2024 Market Study
Peter’s talk at Transcend revealed a number of findings that shed light on heavy industries’ shift from awareness to application of AIO technologies. You can get the full details in the on-demand presentation, but here are three of our favorite highlights.
- AIO vendors broke into the top 10 in the overall APC & Optimization market. AIO now accounts for 10% of the overall market.
- Refining is ahead of the curve on AIO adoption with Imubit edging out incumbents for the 2nd largest market share.
- Small and medium sized industrial processors are embracing AIO more than their supermajor counterparts.
The third point highlights both the historical challenges and modern agility of smaller companies. As highlighted in some of the preceding Transcend presentations, small refiners often lack the resources to develop internal APC programs. They’re finding that Imubit’s AIO technology provides the opportunity to bypass or augment traditional APC while bringing them to the forefront of AI innovation and helping with the challenges of attracting and retaining the next generation of talent.
Industry-Wide Implications
As industries wrestle with the complexities of digital transformation, this fresh perspective sheds light on the evolving landscape, where integration with AI is not just beneficial but imperative. Reinforcement learning offers an immediate strategic advantage that can lead to sustained operational excellence, superior performance metrics, and lasting market leadership. Ensure your plant is staying ahead of the process optimization curve by embracing AIO. Get the ARC report summary here.
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