Speciality Chemicals Magazine JUL / AUG 2021 | Page 51

SUPPLY CHAIN MANAGEMENT faster , using machine learning to leverage simulation or plant data . These models integrate application knowledge , including first principles and engineering constraints , without requiring deep process or AI expertise . The value and importance of using AI to speed progress toward Circular Economy goals is highlighted by the Ellen MacArthur Foundation , which works to develop capabilities and policies to drive Circular Economy progress worldwide . AI is particularly valuable to aid the design of circular products , enable new business models and optimise infrastructure . Ambitious global climate goals will require faster solutions and coordinated activities to ensure progress . In its report , ‘ Artificial Intelligence & the Circular Economy , 2019 ’, written in collaboration with Google , with research and analytical support by McKinsey & Company , the Foundation stated that : “ AI technologies can be applied to three key aspects of a circular economy : design circular products , components and materials ; operate circular business models ; and optimise infrastructure to ensure circular flows of products and materials .” 2 Along the way , it is important that companies can chart and report on their progress toward sustainability objectives . The visibility and workflow connection enabled by digital systems helps employees see the impact of their efforts and makes it possible for companies to chart and report on their progress to stakeholders , regulators and local communities . Addressing the challenge of the Circular Economy means looking at ways of redesigning processes and products to eliminate waste and emissions . New solutions need to look at ways of helping chemicals manufacturers to change the ways they do innovation . By supporting digitalisation and providing tools that help chemicals companies solve new challenges - from improving recycling efficiencies , to redesigning products and processes , to making better use of renewable energy for operations - these providers will help shape the future of the Circular Economy for their customers . In particular , we are today seeing tools for simulation , process modelling and supply chain planning and management being widely used by chemicals companies as they continue their journey to the Circular Economy and enhanced sustainability as a whole . •
References :
1 : Accenture , Winning in a Circular Economy , February 2020
2 : Ellen MacArthur Foundation , Artificial Intelligence & the Circular Economy , 2019
Kate Jones
SENIOR MARKETING COMMUNICATIONS MANAGER
ASPEN TECHNOLOGY k + 44 1189 226400 J kate . jones @ aspentech . com j www . aspentech . com / en
JUL / AUG 2021 SPECCHEMONLINE . COM
51