Companies use AI as a tool for innovation: Accenture

The rise of digitization in industries has led to a growing number of companies moving from experimenting with artificial intelligence (AI) in their pockets to embedding and scaling it in their organizations.

Bharat Petroleum (BPCL), India’s leading oil marketing company, for example, has reimagined its extensive sales and distribution network using data, AI and cloud technologies to increase operational efficiency and service quality for its customers across India.

Accenture, which helped build BPCL’s ‘IRIS’ digital platform, enabled the integration of real-time data from across BPCL’s nationwide network to provide a consolidated view of its vast operations.

Prithvijit Roy, managing director, Applied Intelligence, Accenture in India, told FE that the platform has enabled BPCL’s workforce and its dealer network to make faster and more accurate decisions, including preventive maintenance.

“Powered by AI-based analytics and machine learning technologies, the IRIS platform triggers automated alerts and actions, including rapid response to equipment failure and dangerous situations,” he said.

Accenture Applied Intelligence (AAI) is the part of Accenture’s business that leads data and AI engagements.
Apart from oil and gas, more industries such as banking, life sciences, telecommunications and media, consumer goods, retail, energy and e-commerce are adopting AI in a significant way. According to Roy, the benefits range from increasing productivity and reducing costs to strategic goals such as developing entirely new products and services, deepening customer engagement, and becoming more sustainable and resilient.

He said AI is increasingly becoming a lever for growth and innovation, not just efficiency. “Most businesses now understand the high growth and innovation that AI can drive for them. We help our clients do this through strategies, processes, technology and culture in a responsible way, bringing together the cloud as an enabler, data as an engine and AI as a differentiator. Ultimately, this allows them to make smarter decisions and with a greater degree of confidence,” he said.

With increased demand for automation, India is also emerging as a talent hub for AAI to serve clients globally. Accenture has a team of Data Science, Data Engineering, Machine Learning Operations, Data Visualization, Storytelling professionals who have industry and functional domain expertise. The company also upskills and retrains them constantly to keep up with the changing solution requirements of its customers, Roy said.

“India is a hub of innovation for Accenture globally and an important talent location with more than 300,000 people. There is a lot of critical work going on for Accenture Applied Intelligence that is being led by our team in India, and our people here have the opportunity to work on a wide range of exciting projects and help shape the way AI solves real-world problems,” said he.

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