March 2021

Trends and Resources

Business Trends: A perspective on new technology impacts on the chemical processing industry

Over the past five years, the industrial evolution has been propelled by the same technologies that have dramatically changed our private lives.

Fernandes, S., Yokogawa Corp.

Over the past five years, the industrial evolution has been propelled by the same technologies that have dramatically changed our private lives. These include cloud computing, wireless telecommunications, device mobility, algorithmic power, data storage, cybersecurity and robotics. However, two critical observations can be made regarding the industrial environment. First, people will discover that these information technology (IT) capabilities are augmenting digital solutions that have already been deployed over the past 50 yr. In other words, the industry has been practicing digitization and digitalization for a long time. The recent changes have made these applications more powerful, more

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