diff --git a/.github/workflows/daily_scan.yml b/.github/workflows/daily_scan.yml
index b688640e9..0d96ffdac 100644
--- a/.github/workflows/daily_scan.yml
+++ b/.github/workflows/daily_scan.yml
@@ -82,7 +82,7 @@ jobs:
         id: high_scan
         uses: ./.github/actions/image_scan
         with:
-          image-ref: "public.ecr.aws/aws-observability/adot-autoinstrumentation-python:v0.2.0"
+          image-ref: "public.ecr.aws/aws-observability/adot-autoinstrumentation-python:v0.3.0"
           severity: 'CRITICAL,HIGH'
 
       - name: Perform low image scan
@@ -90,7 +90,7 @@ jobs:
         id: low_scan
         uses: ./.github/actions/image_scan
         with:
-          image-ref: "public.ecr.aws/aws-observability/adot-autoinstrumentation-python:v0.2.0"
+          image-ref: "public.ecr.aws/aws-observability/adot-autoinstrumentation-python:v0.3.0"
           severity: 'MEDIUM,LOW,UNKNOWN'
 
       - name: Configure AWS Credentials for emitting metrics
diff --git a/aws-opentelemetry-distro/src/amazon/opentelemetry/distro/version.py b/aws-opentelemetry-distro/src/amazon/opentelemetry/distro/version.py
index 99b21e4cf..8a1f90186 100644
--- a/aws-opentelemetry-distro/src/amazon/opentelemetry/distro/version.py
+++ b/aws-opentelemetry-distro/src/amazon/opentelemetry/distro/version.py
@@ -1,4 +1,4 @@
 # Copyright Amazon.com, Inc. or its affiliates. All Rights Reserved.
 # SPDX-License-Identifier: Apache-2.0
 
-__version__ = "0.2.0.dev0"
+__version__ = "0.3.0.dev0"