Hi afk and welcome.
Internship hey, sounds like you have a lot of learning ahead of you.
I know it sounds obvious but once you get the basics understood and planted in your mind, everything starts to become clear with PI and you constantly see ways to improve things - be it reports, displays or your own applications.
You are correct that PI is becoming increasing common and important in many industries, in particular manufacturing & oil/gas refineries. It is a good skill to pick up as part of your chemical engineering qualifications...good luck and look forward to seeing you on the forums.
Principal Consultant
Real-Time Data Management @ Wipro Technologies