Antonio Pietri on economic uncertainty
From AspenTech CEO on AI spending · · CNBC Television
“I know now that we're going through a moment of economic uncertainty, and Russia had to do with us exiting the country after sanctions were imposed. But the last two years, we've integrated a couple of great businesses into Aspen Tech. We've transformed them and we've moved into utilities and transmission and distribution of electricity, managing and operating the grid.”
On , Antonio Pietri, President, Chief Executive Officer & Director at ASPEN TECHNOLOGY INC, spoke about economic uncertainty during AspenTech CEO on AI spending on CNBC Television.
About Antonio Pietri
Antonio Pietri, President and CEO of Aspen Technology, has stated that the company's software, historically used to drive efficiencies and profitability, is increasingly being applied to decarbonization efforts. He noted that the same technologies used to model hydrocarbons are now being used for renewables, hydrogen, and biofuels. Pietri said the company is commercializing a CO2 management technology acquired from Aramco and has developed an emissions management solution through an advisory group in the Middle East. He described AspenTech as "central to achieving Net Zero carbon emissions" and said customers have told the company it is "uniquely positioned" in this area. Pietri has discussed the company's approach to artificial intelligence, stating that AspenTech integrates AI capabilities with "first principles of engineering" to provide guardrails for deployment in complex industrial assets. He said customers are becoming more discerning about the type of AI they deploy, differentiating between large language models and AI algorithms for specific use cases. Pietri also commented on the energy transition, saying that scaling technologies like hydrogen and biofuels will take time and that the focus through 2030 should be on driving efficiencies. He added that the company is monitoring quantum computing, which he described as "quite disruptive" once commercially available at scale.