ASPEN TECHNOLOGY, INC.

(AZPN)
  Report
End-of-day quote Nasdaq  -  2022-06-29
183.68 USD   -5.33%
06/27ASPEN TECHNOLOGY : Energy Security and Climate Security — Equal Priorities
PU
06/22ASPEN TECHNOLOGY : Pharma & Biopharma Companies can Target Sustainability with Right-the-First-Time Manufacturing
PU
06/21ASPEN TECHNOLOGY : How COVID Accelerated Supply Chain Optimization Adoption at Chemicals and Petroleum Companies
PU
SummaryQuotesChartsNewsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Aspen Technology : Leveraging Technology & AI for the Changing Workforce in Manufacturing

05/03/2022 EDT

The workforce is experiencing turbulence. We've heard about the "Great Resignation" where 47 million Americans voluntarily quit their job in 2021. When combined with other market forces, such as baby boomers retiring and millennials growing into new roles; a global pandemic which forces pharma companies to run their plants around the clock and refineries needing to pivot oil production to respond to volatility, uncertainty, complexity, and ambiguity (VUCA) environments. New solutions are required to adapt to the current environment so that business can thrive.

This starts with embracing technology that can attract and retain the next generation of workers as well as empowering them with the skills they need to reimagine manufacturing. This means upscaling and upskilling the organization. In addition to leveraging new industrial data, placing employees on cross-functional teams, which include people of different viewpoints and experiences, will allow organizations to benefit from this knowledge more broadly.

What is Industrial AI?

Enter: "Industrial AI." This is not just artificial intelligence (AI), but, artificial intelligence that is specific to the manufacturing space, because it is important to understand the industry in addition to understanding data analytics.

Transition in the workplace is a huge challenge. As Jim Harris says in the video above: "One of the staggering things that I've read is that 50% of the workforce in America are Millennials and Gen Z's. And, by 2025, that will be at 75%. This exodus of boomers from the workplace with all this knowledge, deep domain knowledge of manufacturing processes, is causing an urgency for organizations to begin capturing this knowledge. We often think it's AI or people." He then asks, "How can we capture that knowledge from the plant floor that's leaving as people are retiring?"

This is an important question. It's not just people who have been in a manufacturing job for a long time that are retiring and leaving with their knowledge. It can be disruptive to an organization when people in manufacturing roles leave the organization, taking their knowledge and experience with them. This is where technology and AI can help. When industrial data can be captured and utilized in a smart way, it can make workforce transitions easier. There's also a need to simplify the way software is built and deployed so that workers can become effective in their jobs quickly. Another way to capture knowledge is to have cross-functional teams, made up of people with a different set of eyes and experiences, work together so that knowledge is shared.

We're all living in a VUCA environment. It's more important than ever to not just run operations as we've always known them, but to have the flexibility to respond to changing marketplaces, workforces and to changing customer demands as they arise by asking "do we presently have the systems and structures to enable us to respond in real-time?" By keeping these in mind, we can identify the technology and the workplace knowledge needed to keep the workforce productive and the enterprise competitive.

Disclaimer

Aspen Technology Inc. published this content on 03 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 June 2022 03:11:08 UTC.


© Publicnow 2022
All news about ASPEN TECHNOLOGY, INC.
06/27ASPEN TECHNOLOGY : Energy Security and Climate Security — Equal Priorities
PU
06/22ASPEN TECHNOLOGY : Pharma & Biopharma Companies can Target Sustainability with Right-the-F..
PU
06/21ASPEN TECHNOLOGY : How COVID Accelerated Supply Chain Optimization Adoption at Chemicals a..
PU
06/15ASPEN TECHNOLOGY : The Metaverse Can Help Design Sustainable Industrial Facilities
PU
06/07TRANSCRIPT : Aspen Technology, Inc. Presents at William Blair’s 42nd Annual Growth St..
CI
06/02Aspen Technology Selected by Japanese Chemical Producer KH Neochem to Accelerate Plant ..
MT
05/18ASPEN TECHNOLOGY, INC.(NASDAQGS : AZPN) added to NASDAQ Composite Index
CI
05/03ASPEN TECHNOLOGY : Leveraging Technology & AI for the Changing Workforce in Manufacturing
PU
04/27Aspen Technology, Inc. Reports Earnings Results for the Third Quarter and Nine Months E..
CI
04/06Aspen Technology, Inc. Reports Earnings Results for the First Quarter Ended December 31..
CI
More news
Financials (USD)
Sales 2022 787 M - -
Net income 2022 334 M - -
Net Debt 2022 - - -
P/E ratio 2022 44,9x
Yield 2022 -
Capitalization 12 298 M 12 298 M -
Capi. / Sales 2022 15,6x
Capi. / Sales 2023 10,4x
Nbr of Employees 1 790
Free-Float 28,7%
Chart ASPEN TECHNOLOGY, INC.
Duration : Period :
Aspen Technology, Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ASPEN TECHNOLOGY, INC.
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 7
Last Close Price 191,24 $
Average target price 191,50 $
Spread / Average Target 0,14%
EPS Revisions
Managers and Directors
Antonio Jose Pietri President, Chief Executive Officer & Director
Chantelle Yvette Breithaupt Chief Financial Officer
Jill D. Smith Chairman
Willie K. Chan Chief Technology Officer
Patrick M. Antkowiak Director
Sector and Competitors
1st jan.Capi. (M$)
ASPEN TECHNOLOGY, INC.20.68%12 298
ORACLE CORPORATION-19.88%188 863
SAP SE-30.58%105 560
SERVICENOW INC.-25.38%97 095
CONSTELLATION SOFTWARE INC.-18.58%31 354
PAYCOM SOFTWARE, INC.-29.87%16 900