AVEVA, a global leader in industrial software, shared how digital transformation will help increase business profitability and optimize environmental sustainability in the aftermath of the pandemic.
At the recent 25th Annual ARC Industry Forum, AVEVA President Craig Hayman and ADNOC Chief Engineer Alan Nelson discussed how cloud technology and artificial intelligence can quickly improve efficiency in the industrial sector. Speakers spoke at a working group meeting chaired by Andy Chatha, President of ARC Advisory Group, a leading research and consulting company.
According to the chief engineer of ADNOC Alan Nelson, today the issues of accelerating digitalization and implementation of AI are of the highest priority for every organization. “We have deployed a variety of digital solutions for effective business management, including AI tools for accelerating field development, centralized monitoring and predictive maintenance of critical equipment in real time, digital shipping management and online logistics monitoring,” he said. - Carrying out digital transformation in the context of a global pandemic, we came to the conclusion that these changes were the reason for the transformation of the entire business. Digitalization and AI strategies do not work on their own, they are an extension of the needs of enterprises. ”
Craig Hayman, President of AVEVA, a strategic partner of ADNOC and others, explained the importance of high data fidelity to business results: “AI processing of industrial data with human intuition brings transformational benefits. Predictive solutions and operational data reduce costs and streamline processes in real time.
AVEVA annually invests about £ 150 million in R&D. This funding goes to support 150 teams, each of 8-12 people, who work on a methodology of integrated accelerated product development (scrum teams). They offer effective solutions and guidance for critical business processes such as supply chain management. Despite the fact that our business has tripled over the past three years, the real acceleration of digitalization is only starting now. ”
“Digital innovations bring additional benefits in the form of reducing harmful emissions into the atmosphere. AVEVA's sustainability strategy is divided into two parts. Our long-term goal is to create initiatives to minimize our carbon footprint and negative impact on the environment, as well as apply the principles of a closed business cycle to all our international offices and operations, added Craig Heyman. “At the same time, we consider our greatest contribution to be our software products, which ensure environmental friendliness in various industries. Digitization will prove to be a critical factor in the formation of shareholder value, since sustainable development is at the center of attention of both customers and suppliers. ”
“The pandemic has dramatically reduced the time it takes to adopt new technologies in all types of businesses,” said Andy Chatha, President of ARC. - Over the past year, we have learned well that disasters occur earlier than we predict them. However, if we can quickly change our priorities, there are opportunities for both recovery and early growth. ”