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2 Big Picture of the Modern Chemical Industry 2.1 New Era of the Chemical Industry

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Since 1746, evolution of the modern chemical industry can be divided into four distinct stages of development: the industrialization era (chemical industry 1.0), the scale and capacity building era (chemical industry 2.0), and the automation and computerization era (chemical industry 3.0). Currently the chemical industry is slowly entering into a new era called data analytics and the artificial intelligence (AI) stage (4.0). Disruptive technologies like artificial intelligence, machine learning, big data analytics, and the internet of things (IoT) have already entered inside the chemical process industries and are already changing the rule of the chemical business (Ji, He, Xu, and Guo, 2016). Their influence is starting to see benefits in a significant improvement in production efficiency, energy utilization, optimization of the entire manufacturing process, integration of the supply chain, new product development, product delivery speed, etc. Figure 2.1 shows the development stages of the chemical industry.


Figure 2.1 Developing stages of the chemical industry

Profit Maximization Techniques for Operating Chemical Plants

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