Next-Gen Technologies Can Gen AI Help in Plant Engineering and Operations?

Related Vendors

Siemens AG

ABB Automation GmbH

EDL Anlagenbau Gesellschaft mbH

CAC ENGINEERING GMBH

TRM Filter d.o.o.

Generative AI more commonly known as Gen AI is a trending concept but how can this revolutionary technology prove beneficial for plant engineering and operations? Ahlam Rais connects with technology leaders to find out all the details about this next-gen technology and its impact on industrial plants.

“Artificial intelligence and generative AI may be the most important technology of any lifetime.” – Marc Benioff, Chair, CEO, and Co-Founder, Salesforce. This quote by the leader of the American cloud-based software company emphasizes the significance of these smart technologies. Artificial intelligence (AI) can simply be defined as smart computer systems that are capable of carrying out tasks which are usually done by human intelligence whereas, Generative AI (Gen AI) is a type of AI technology that produces new and original content by identifying different patterns and structures in an existing data set. Nowadays, Gen AI is trending across diverse industries that aim to accelerate their digital transformation journeys.

In terms of market scenario, the global Generative AI market was valued at 14.17 billion dollars in 2023, and is expected to reach 96.36 billion dollars by 2029, rising at a CAGR of 37.64 %, mentions a release by market research firm Research and Markets. These figures reveal the huge growth potential of this technology.