diff --git a/CITATION.cff b/CITATION.cff
index 28a00e6b7..e42e8644e 100644
--- a/CITATION.cff
+++ b/CITATION.cff
@@ -1,6 +1,6 @@
 cff-version: 1.2.0
 title: "ARK: A GPU-driven system framework for scalable AI applications"
-version: 0.1.0
+version: 0.2.0
 message: >-
   If you use this project in your research, please cite it as below.
 authors:
diff --git a/CMakeLists.txt b/CMakeLists.txt
index dccf6b196..deb148a49 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -2,7 +2,7 @@
 # Licensed under the MIT license.
 
 set(ARK_MAJOR "0")
-set(ARK_MINOR "1")
+set(ARK_MINOR "2")
 set(ARK_PATCH "0")
 
 set(ARK_VERSION "${ARK_MAJOR}.${ARK_MINOR}.${ARK_PATCH}")
diff --git a/README.md b/README.md
index 813f10d6a..a6de8e235 100644
--- a/README.md
+++ b/README.md
@@ -21,20 +21,30 @@ ARK provides a set of APIs for users to express their distributed deep learning
 
 ARK is under active development and a part of its features will be added in a future release. The following describes key features of each version.
 
-### ARK v0.1 (Latest Release)
+### New in ARK v0.2 (Latest Release)
 
-* The default tile-based operator scheduler
-* A simple software communication stack
-* Transformer inference examples
+* Change the `Tensor` interface to expose the underlying buffer
+* Extend communication interfaces to support more communication operators
+* Add many new operators
+* Upgrade CUTLASS to v3.2.0
+* Change the Python `Runtime.run()` interface
+* Add a new parallel matmul example
+* Update the documentation
+* Improve unit tests
+* Add an Azure pipeline for unit tests
+* Add code coverage
+* Many bug fixes
 
-### ARK v0.2 (TBU, Sep. 2023)
+See details from https://github.com/microsoft/ark/issues/61.
+
+### ARK v0.3 (TBU, Oct. 2023)
 
 * A simple operator scheduler for debugging
-* Extended communication interfaces
+* Simpler communication interfaces
 * Support more operators
 * More inference examples
 
-### ARK v0.3 (TBU, Nov. 2023)
+### ARK v0.4 (TBU, Nov. 2023)
 
 * Full support for the operator profiler
 * High-performance collective communication
diff --git a/ark/include/ark.h b/ark/include/ark.h
index c002eb898..1235ecdd1 100644
--- a/ark/include/ark.h
+++ b/ark/include/ark.h
@@ -10,7 +10,7 @@
 #include <vector>
 
 #define ARK_MAJOR 0
-#define ARK_MINOR 1
+#define ARK_MINOR 2
 #define ARK_PATCH 0
 #define ARK_VERSION (ARK_MAJOR * 10000 + ARK_MINOR * 100 + ARK_PATCH)
 
diff --git a/docs/sphinx/source/conf.py b/docs/sphinx/source/conf.py
index 26e7d243a..22882314e 100644
--- a/docs/sphinx/source/conf.py
+++ b/docs/sphinx/source/conf.py
@@ -20,8 +20,8 @@
 project = "ARK"
 copyright = "2023, ARK Team"
 author = "ARK Team"
-version = "0.1.0"
-release = "0.1.0"
+version = "0.2.0"
+release = "0.2.0"
 
 # -- General configuration ---------------------------------------------------
 
diff --git a/pyproject.toml b/pyproject.toml
index 471151a29..51047c2f6 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -4,7 +4,7 @@ build-backend = "scikit_build_core.build"
 
 [project]
 name = "ark"
-version = "0.1.0"
+version = "0.2.0"
 
 [tool.scikit-build]
 cmake.minimum-version = "3.25"