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The recent advances of these disruptive digital technologies give birth to a new generation of intelligent chemical industries (Ji et al., 2016). The old method of doing business by the conventional chemical industry are slowly becoming obsolete. Distinct features of a new generation of intelligent chemical industries are given below (but are not limited to these):

 A new generation of intelligent chemical industries use data analytics to take informed decisions in every phase of business, be it manufacturing, marketing, or R&D (research and development). These intelligent chemical industries develop a complete infrastructure of digital platforms to collect and analyze data and integrate it with business processes. This is called digital transformation.

 They generate knowledge from the available data by using artificial intelligence‐based algorithms. This knowledge is used to integrate shareholder value, market demands, and sustainable development.

 Manufacturing facilities of these new generation of chemical industries are transformed from island mode to integrated mode. Operation of the supply chain, manufacturing facility, marketing, and R&D are integrated to leverage a larger optimization scope.

 The process control of these process industries is not confined to normal PID (Proportional, Integration and derivative) control but expands to advance process control and real‐time optimization covering the production process, entire marketing, and supply chain operation.

 With the help of data analytics and artificial intelligence‐based algorithms these chemical industries develop a knowledge‐based decision‐making capability in every aspect of business and make themselves better prepared to handle more stringent environmental requirements and changing customer needs.

The comparisons between an intelligent chemical industry and the conventional chemical industry are listed in Table 2.1 (Ji et al., 2016).