diff --git a/assets/model_monitoring/components/data_drift/data_drift_signal_monitor/spec.yaml b/assets/model_monitoring/components/data_drift/data_drift_signal_monitor/spec.yaml
index 9a41de23c4..71d8559695 100644
--- a/assets/model_monitoring/components/data_drift/data_drift_signal_monitor/spec.yaml
+++ b/assets/model_monitoring/components/data_drift/data_drift_signal_monitor/spec.yaml
@@ -77,7 +77,7 @@ jobs:
         type: mltable
     resources:
       instance_type: ${{parent.inputs.instance_type}}
-      runtime_version: "3.3"
+      runtime_version: "3.4"
     identity:
       type: aml_token
   feature_selection:
@@ -98,7 +98,7 @@ jobs:
         type: mltable
     resources:
       instance_type: ${{parent.inputs.instance_type}}
-      runtime_version: "3.3"
+      runtime_version: "3.4"
     identity:
       type: aml_token
   compute_drift_metrics:
@@ -125,7 +125,7 @@ jobs:
         type: mltable
     resources:
       instance_type: ${{parent.inputs.instance_type}}
-      runtime_version: "3.3"
+      runtime_version: "3.4"
     identity:
       type: aml_token
   compute_histogram_buckets:
@@ -145,7 +145,7 @@ jobs:
         type: mltable
     resources:
       instance_type: ${{parent.inputs.instance_type}}
-      runtime_version: "3.3"
+      runtime_version: "3.4"
     identity:
       type: aml_token
   compute_baseline_histogram:
@@ -165,7 +165,7 @@ jobs:
         type: mltable
     resources:
       instance_type: ${{parent.inputs.instance_type}}
-      runtime_version: "3.3"
+      runtime_version: "3.4"
     identity:
       type: aml_token
   compute_target_histogram:
@@ -185,7 +185,7 @@ jobs:
         type: mltable
     resources:
       instance_type: ${{parent.inputs.instance_type}}
-      runtime_version: "3.3"
+      runtime_version: "3.4"
     identity:
       type: aml_token
   output_signal_metrics:
@@ -213,7 +213,7 @@ jobs:
         mode: direct
     resources:
       instance_type: ${{parent.inputs.instance_type}}
-      runtime_version: "3.3"
+      runtime_version: "3.4"
     identity:
       type: aml_token
   evaluate_metric_thresholds:
@@ -227,6 +227,6 @@ jobs:
       signal_name: ${{parent.inputs.signal_name}}
     resources:
       instance_type: ${{parent.inputs.instance_type}}
-      runtime_version: "3.3"
+      runtime_version: "3.4"
     identity:
       type: aml_token
\ No newline at end of file
diff --git a/assets/model_monitoring/components/data_quality/data_quality_signal_monitor/spec.yaml b/assets/model_monitoring/components/data_quality/data_quality_signal_monitor/spec.yaml
index b946433d78..d10f412fc0 100644
--- a/assets/model_monitoring/components/data_quality/data_quality_signal_monitor/spec.yaml
+++ b/assets/model_monitoring/components/data_quality/data_quality_signal_monitor/spec.yaml
@@ -77,7 +77,7 @@ jobs:
         type: mltable
     resources:
       instance_type: ${{parent.inputs.instance_type}}
-      runtime_version: "3.3"
+      runtime_version: "3.4"
     identity:
       type: aml_token
   feature_selection:
@@ -98,7 +98,7 @@ jobs:
         type: mltable
     resources:
       instance_type: ${{parent.inputs.instance_type}}
-      runtime_version: "3.3"
+      runtime_version: "3.4"
     identity:
       type: aml_token
   compute_baseline_data_statistics:
@@ -115,7 +115,7 @@ jobs:
         type: mltable
     resources:
       instance_type: ${{parent.inputs.instance_type}}
-      runtime_version: "3.3"
+      runtime_version: "3.4"
     identity:
       type: aml_token
   compute_baseline_data_quality:
@@ -140,7 +140,7 @@ jobs:
         type: mltable
     resources:
       instance_type: ${{parent.inputs.instance_type}}
-      runtime_version: "3.3"
+      runtime_version: "3.4"
     identity:
       type: aml_token
   compute_target_data_quality:
@@ -163,7 +163,7 @@ jobs:
         type: mltable
     resources:
       instance_type: ${{parent.inputs.instance_type}}
-      runtime_version: "3.3"
+      runtime_version: "3.4"
     identity:
       type: aml_token
   join_data_quality_metrics:
@@ -183,7 +183,7 @@ jobs:
         type: mltable
     resources:
       instance_type: ${{parent.inputs.instance_type}}
-      runtime_version: "3.3"
+      runtime_version: "3.4"
     identity:
       type: aml_token
   output_signal_metrics:
@@ -205,7 +205,7 @@ jobs:
         mode: direct
     resources:
       instance_type: ${{parent.inputs.instance_type}}
-      runtime_version: "3.3"
+      runtime_version: "3.4"
     identity:
       type: aml_token
   evaluate_metric_thresholds:
@@ -219,6 +219,6 @@ jobs:
       signal_name: ${{parent.inputs.signal_name}}
     resources:
       instance_type: ${{parent.inputs.instance_type}}
-      runtime_version: "3.3"
+      runtime_version: "3.4"
     identity:
       type: aml_token
diff --git a/assets/model_monitoring/components/feature_attribution_drift/feature_attribution_drift_signal_monitor/spec.yaml b/assets/model_monitoring/components/feature_attribution_drift/feature_attribution_drift_signal_monitor/spec.yaml
index 6c7af22fab..d287e681d6 100644
--- a/assets/model_monitoring/components/feature_attribution_drift/feature_attribution_drift_signal_monitor/spec.yaml
+++ b/assets/model_monitoring/components/feature_attribution_drift/feature_attribution_drift_signal_monitor/spec.yaml
@@ -58,7 +58,7 @@ jobs:
         type: mltable
     resources:
       instance_type: ${{parent.inputs.instance_type}}
-      runtime_version: "3.3"
+      runtime_version: "3.4"
     identity:
       type: aml_token
   compute_production_explanations:
@@ -77,7 +77,7 @@ jobs:
         type: mltable
     resources:
       instance_type: ${{parent.inputs.instance_type}}
-      runtime_version: "3.3"
+      runtime_version: "3.4"
     identity:
       type: aml_token
   compute_feature_attribution:
@@ -96,7 +96,7 @@ jobs:
         type: mltable
     resources:
       instance_type: ${{parent.inputs.instance_type}}
-      runtime_version: "3.3"
+      runtime_version: "3.4"
     identity:
       type: aml_token
   output_signal_metrics:
@@ -117,7 +117,7 @@ jobs:
         mode: direct
     resources:
       instance_type: ${{parent.inputs.instance_type}}
-      runtime_version: "3.3"
+      runtime_version: "3.4"
     identity:
       type: aml_token
   evaluate_metric_thresholds:
@@ -131,6 +131,6 @@ jobs:
       signal_name: ${{parent.inputs.signal_name}}
     resources:
       instance_type: ${{parent.inputs.instance_type}}
-      runtime_version: "3.3"
+      runtime_version: "3.4"
     identity:
       type: aml_token
diff --git a/assets/model_monitoring/components/model_monitor/model_monitor_azmon_metric_publisher/spec.yaml b/assets/model_monitoring/components/model_monitor/model_monitor_azmon_metric_publisher/spec.yaml
index ad37141497..1e8e25edd4 100644
--- a/assets/model_monitoring/components/model_monitor/model_monitor_azmon_metric_publisher/spec.yaml
+++ b/assets/model_monitoring/components/model_monitor/model_monitor_azmon_metric_publisher/spec.yaml
@@ -58,7 +58,7 @@ args: >-
 
 resources:
   instance_type: ${{parent.inputs.instance_type}}
-  runtime_version: "3.3"
+  runtime_version: "3.4"
 
 identity:
   type: managed
diff --git a/assets/model_monitoring/components/model_monitor_action_analyzer/model_monitor_action_analyzer/spec.yaml b/assets/model_monitoring/components/model_monitor_action_analyzer/model_monitor_action_analyzer/spec.yaml
index dee9772080..eebc7d01fa 100644
--- a/assets/model_monitoring/components/model_monitor_action_analyzer/model_monitor_action_analyzer/spec.yaml
+++ b/assets/model_monitoring/components/model_monitor_action_analyzer/model_monitor_action_analyzer/spec.yaml
@@ -69,7 +69,7 @@ jobs:
         type: mltable
     resources:
       instance_type: ${{parent.inputs.instance_type}}
-      runtime_version: "3.3"
+      runtime_version: "3.4"
     identity:
       type: aml_token
   metrics_calculation:
@@ -86,7 +86,7 @@ jobs:
         type: mltable
     resources:
       instance_type: ${{parent.inputs.instance_type}}
-      runtime_version: "3.3"
+      runtime_version: "3.4"
     identity:
       type: aml_token
   correlation_test:
@@ -101,7 +101,7 @@ jobs:
         type: mltable
     resources:
       instance_type: ${{parent.inputs.instance_type}}
-      runtime_version: "3.3"
+      runtime_version: "3.4"
     identity:
       type: aml_token
   output_actions:
@@ -123,6 +123,6 @@ jobs:
         mode: direct
     resources:
       instance_type: ${{parent.inputs.instance_type}}
-      runtime_version: "3.3"
+      runtime_version: "3.4"
     identity:
       type: aml_token
\ No newline at end of file
diff --git a/assets/model_monitoring/components/model_performance/model_performance_signal_monitor/spec.yaml b/assets/model_monitoring/components/model_performance/model_performance_signal_monitor/spec.yaml
index 23d4f925d7..b935d54f8a 100644
--- a/assets/model_monitoring/components/model_performance/model_performance_signal_monitor/spec.yaml
+++ b/assets/model_monitoring/components/model_performance/model_performance_signal_monitor/spec.yaml
@@ -73,7 +73,7 @@ jobs:
         type: mltable
     resources:
       instance_type: ${{parent.inputs.instance_type}}
-      runtime_version: "3.3"
+      runtime_version: "3.4"
     identity:
       type: aml_token
   output_signal_metrics: 
@@ -94,7 +94,7 @@ jobs:
         mode: direct
     resources:
       instance_type: ${{parent.inputs.instance_type}}
-      runtime_version: "3.3"
+      runtime_version: "3.4"
     identity:
       type: aml_token
   evaluate_metric_thresholds:
@@ -108,6 +108,6 @@ jobs:
       signal_name: ${{parent.inputs.signal_name}}
     resources:
       instance_type: ${{parent.inputs.instance_type}}
-      runtime_version: "3.3"
+      runtime_version: "3.4"
     identity:
       type: aml_token
diff --git a/assets/model_monitoring/components/prediction_drift/prediction_drift_signal_monitor/spec.yaml b/assets/model_monitoring/components/prediction_drift/prediction_drift_signal_monitor/spec.yaml
index 70230c588f..16ea1dabdf 100644
--- a/assets/model_monitoring/components/prediction_drift/prediction_drift_signal_monitor/spec.yaml
+++ b/assets/model_monitoring/components/prediction_drift/prediction_drift_signal_monitor/spec.yaml
@@ -72,7 +72,7 @@ jobs:
         type: mltable
     resources:
       instance_type: ${{parent.inputs.instance_type}}
-      runtime_version: "3.3"
+      runtime_version: "3.4"
     identity:
       type: aml_token
   compute_drift_metrics:
@@ -99,7 +99,7 @@ jobs:
         type: mltable
     resources:
       instance_type: ${{parent.inputs.instance_type}}
-      runtime_version: "3.3"
+      runtime_version: "3.4"
     identity:
       type: aml_token
   compute_histogram_buckets:
@@ -119,7 +119,7 @@ jobs:
         type: mltable
     resources:
       instance_type: ${{parent.inputs.instance_type}}
-      runtime_version: "3.3"
+      runtime_version: "3.4"
     identity:
       type: aml_token
   compute_baseline_histogram:
@@ -139,7 +139,7 @@ jobs:
         type: mltable
     resources:
       instance_type: ${{parent.inputs.instance_type}}
-      runtime_version: "3.3"
+      runtime_version: "3.4"
     identity:
       type: aml_token
   compute_target_histogram:
@@ -159,7 +159,7 @@ jobs:
         type: mltable
     resources:
       instance_type: ${{parent.inputs.instance_type}}
-      runtime_version: "3.3"
+      runtime_version: "3.4"
     identity:
       type: aml_token
   output_signal_metrics: 
@@ -186,7 +186,7 @@ jobs:
         mode: direct
     resources:
       instance_type: ${{parent.inputs.instance_type}}
-      runtime_version: "3.3"
+      runtime_version: "3.4"
     identity:
       type: aml_token
   evaluate_metric_thresholds: 
@@ -200,6 +200,6 @@ jobs:
       signal_name: ${{parent.inputs.signal_name}}
     resources:
       instance_type: ${{parent.inputs.instance_type}}
-      runtime_version: "3.3"
+      runtime_version: "3.4"
     identity:
       type: aml_token
diff --git a/assets/model_monitoring/components/tests/e2e/test_create_manifest_e2e.py b/assets/model_monitoring/components/tests/e2e/test_create_manifest_e2e.py
index bcd822f718..c1341800e0 100644
--- a/assets/model_monitoring/components/tests/e2e/test_create_manifest_e2e.py
+++ b/assets/model_monitoring/components/tests/e2e/test_create_manifest_e2e.py
@@ -52,13 +52,13 @@ def _create_manifest_e2e():
         mdc_preprocessor_output.identity = AmlTokenConfiguration()
         mdc_preprocessor_output.resources = {
             "instance_type": "Standard_E8S_V3",
-            "runtime_version": "3.3",
+            "runtime_version": "3.4",
         }
 
         create_manifest_output.identity = AmlTokenConfiguration()
         create_manifest_output.resources = {
             "instance_type": "Standard_E8S_V3",
-            "runtime_version": "3.3",
+            "runtime_version": "3.4",
         }
 
         return {
diff --git a/assets/model_monitoring/components/tests/e2e/test_data_joiner_e2e.py b/assets/model_monitoring/components/tests/e2e/test_data_joiner_e2e.py
index 67c82c682d..d8517dd3e1 100644
--- a/assets/model_monitoring/components/tests/e2e/test_data_joiner_e2e.py
+++ b/assets/model_monitoring/components/tests/e2e/test_data_joiner_e2e.py
@@ -43,7 +43,7 @@ def _data_joiner_e2e():
         data_joiner_output.identity = AmlTokenConfiguration()
         data_joiner_output.resources = {
             'instance_type': 'Standard_E8S_V3',
-            'runtime_version': '3.3',
+            'runtime_version': '3.4',
         }
 
         return {
diff --git a/assets/model_monitoring/components/tests/e2e/test_feature_attribution_drift_signal_monitor_e2e.py b/assets/model_monitoring/components/tests/e2e/test_feature_attribution_drift_signal_monitor_e2e.py
index 32581431d6..65e9ff75b3 100644
--- a/assets/model_monitoring/components/tests/e2e/test_feature_attribution_drift_signal_monitor_e2e.py
+++ b/assets/model_monitoring/components/tests/e2e/test_feature_attribution_drift_signal_monitor_e2e.py
@@ -112,19 +112,19 @@ def _feature_attr_drift_with_preprocessor_and_data_joiner_e2e():
         mdc_preprocessor_model_inputs.identity = AmlTokenConfiguration()
         mdc_preprocessor_model_inputs.resources = {
             'instance_type': 'Standard_E8S_V3',
-            'runtime_version': '3.3',
+            'runtime_version': '3.4',
         }
 
         mdc_preprocessor_model_outputs.identity = AmlTokenConfiguration()
         mdc_preprocessor_model_outputs.resources = {
             'instance_type': 'Standard_E8S_V3',
-            'runtime_version': '3.3',
+            'runtime_version': '3.4',
         }
 
         data_joiner_output.identity = AmlTokenConfiguration()
         data_joiner_output.resources = {
             'instance_type': 'Standard_E8S_V3',
-            'runtime_version': '3.3',
+            'runtime_version': '3.4',
         }
 
         return {
diff --git a/assets/model_monitoring/components/tests/e2e/test_genai_preprocessor_e2e.py b/assets/model_monitoring/components/tests/e2e/test_genai_preprocessor_e2e.py
index abd3334586..c0d9011e75 100644
--- a/assets/model_monitoring/components/tests/e2e/test_genai_preprocessor_e2e.py
+++ b/assets/model_monitoring/components/tests/e2e/test_genai_preprocessor_e2e.py
@@ -32,7 +32,7 @@ def _genai_preprocessor_e2e():
         genai_preprocessor_output.identity = AmlTokenConfiguration()
         genai_preprocessor_output.resources = {
             'instance_type': 'Standard_E4S_V3',
-            'runtime_version': '3.3',
+            'runtime_version': '3.4',
         }
 
         return {
diff --git a/assets/model_monitoring/components/tests/e2e/test_model_data_collector_preprocessor_e2e.py b/assets/model_monitoring/components/tests/e2e/test_model_data_collector_preprocessor_e2e.py
index a1f3d73675..a18fd28674 100644
--- a/assets/model_monitoring/components/tests/e2e/test_model_data_collector_preprocessor_e2e.py
+++ b/assets/model_monitoring/components/tests/e2e/test_model_data_collector_preprocessor_e2e.py
@@ -33,7 +33,7 @@ def _mdc_preprocessor_e2e():
         mdc_preprocessor_output.identity = AmlTokenConfiguration()
         mdc_preprocessor_output.resources = {
             'instance_type': 'Standard_E4S_V3',
-            'runtime_version': '3.3',
+            'runtime_version': '3.4',
         }
 
         return {
diff --git a/assets/model_monitoring/components/tests/e2e/test_model_monitor_metric_outputter_e2e.py b/assets/model_monitoring/components/tests/e2e/test_model_monitor_metric_outputter_e2e.py
index 58a22d14cb..f704f243da 100644
--- a/assets/model_monitoring/components/tests/e2e/test_model_monitor_metric_outputter_e2e.py
+++ b/assets/model_monitoring/components/tests/e2e/test_model_monitor_metric_outputter_e2e.py
@@ -36,7 +36,7 @@ def _metric_outputter_e2e():
         metric_outputter_output.identity = AmlTokenConfiguration()
         metric_outputter_output.resources = {
             "instance_type": "Standard_E8S_V3",
-            "runtime_version": "3.3",
+            "runtime_version": "3.4",
         }
 
         return {"signal_output": metric_outputter_output.outputs.signal_output}
diff --git a/assets/model_monitoring/components/tests/requirements.txt b/assets/model_monitoring/components/tests/requirements.txt
index 5e9acb848f..fb16f193b8 100644
--- a/assets/model_monitoring/components/tests/requirements.txt
+++ b/assets/model_monitoring/components/tests/requirements.txt
@@ -1,4 +1,4 @@
-azure-ai-ml==1.13.0
+azure-ai-ml==1.23.0
 azure-cli-core~=2.45.0
 azure-identity~=1.12.0
 azureml-fsspec~=1.0.0