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Accenture Technology Vision for Chemicals 2018

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Accenture's 2018 Technology for Chemicals explores how executives can leverage technology to reimagine the future of the chemical industry.

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Accenture Technology Vision for Chemicals 2018

  1. 1. ACCENTURE TECHNOLOGYVISION FORCHEMICALS 2018 Copyright © 2018 Accenture. All rights reserved.
  2. 2. 2Copyright © 2018 Accenture. All rights reserved. Accenture’s 2018 Technology Vision for Chemicals delves into how executives can leverage technology that is available now to reimagine what’s possible tomorrow. Today’s chemical industry appears to be in good shape on the surface. However, hidden pressures and risks are mounting, and change is necessary.
  3. 3. 3Copyright © 2018 Accenture. All rights reserved. Chemical companies need to make the technological, portfolio and business-model pivots that are required to survive and thrive in a competitive global marketplace. The opportunities are tremendous, particularly when the concepts reach scale. Acting now will be key to keeping up in an industry landscape that is being reshaped by technology.
  4. 4. CITIZEN AI Raising AI to Benefit Business and Society 4 EXTENDED REALITY The End of Distance DATA VERACITY The Importance of Trust INTERNET OF THINKING Creating Intelligent Distributed Systems TECHNOLOGY TRENDS ARE SHAPING THE FUTURE OF BUSINESS. How will the chemical industry respond?FIVE Trend 1 Trend 2 FRICTIONLESS BUSINESS Built to Partner at Scale Trend 3 Trend 4 Trend 5 4Copyright © 2018 Accenture. All rights reserved.
  5. 5. 5Copyright © 2018 Accenture. All rights reserved. Trend 1 CITIZENAI For the chemical industry, artificial intelligence (AI) is increasingly becoming part of the workforce and only expanding in scope. From interactions with customers to manufacturing processes and R&D, the power of AI is both awesome and alarming, considering the potential implications of one bad decision. Chemical companies must recognize this impact and build AI with accountability, fairness and transparency. With growing capabilities and impact, AI must be “raised” to be a responsible, productive member of society.
  6. 6. 6 WHAT DO SURVEYED CHEMICAL INDUSTRY EXECUTIVES THINK ABOUT CITIZENAI? Copyright © 2018 Accenture. All rights reserved. indicate that they have a good understanding of how AI decisions are made. said that their employees have a full understanding of how AI systems work— higher than the cross- industry average of 16% but still low. shared that they are confident that their AI systems will not be biased. 92% 34% 24% Source: Chemical industry respondents in Accenture Technology Vision 2018 survey.
  7. 7. 7Copyright © 2018 Accenture. All rights reserved. Trend 2 EXTENDED REALITY Chemical companies see a great deal of potential in extended reality (“XR”), which includes virtual and augmented reality technologies that make immersive experiences commonplace. There is particular interest in using XR in the plant to deliver information to workers that helps them do their jobs more effectively. Another relevant use of XR is with customers, helping them imagine their products in real-life applications. Virtual and augmented reality technologies remove the distance between people, information and experiences.
  8. 8. 8 WHAT DO SURVEYED CHEMICAL INDUSTRY EXECUTIVES THINK ABOUT EXTENDEDREALITY? 85% 55% 52% believe that extended reality solutions will pay for themselves within one year. expect that customer service will be the most relevant area for extended reality in their organization over the next two years. agree that extended reality will be widespread and impact virtually every industry over the next five years. Copyright © 2018 Accenture. All rights reserved. Source: Chemical industry respondents in Accenture Technology Vision 2018 survey.
  9. 9. Trend 3 FRICTIONLESS BUSINESS In the chemical industry, legacy systems were not built to support partnerships at scale and the rapid expansion into new ecosystems. However, those systems will hinder future growth. Microservices and blockchain are two technologies that may help, removing friction from intercompany interactions. They can make it easier for chemical companies to track, trace and audit contracts, assets, joint molecule development and more. Technology-based partnerships are required for growth, so new architectures are needed to enable ecosystem expansion. 9Copyright © 2018 Accenture. All rights reserved.
  10. 10. 10 WHAT DO SURVEYED CHEMICAL INDUSTRY EXECUTIVES THINK ABOUT FRICTIONLESSBUSINESS? Copyright © 2018 Accenture. All rights reserved. 43% 88% 79% agree that blockchain-based ledgers and smart contracts are reinventing the way businesses engage with new partners. agree that microservices are critical for scaling and integrating ecosystem partnerships. report that the number of partners their organization works with has doubled or more compared to two years ago. Source: Chemical industry respondents in Accenture Technology Vision 2018 survey.
  11. 11. Trend 4 INTERNET OF THINKING Robotics, AI and connected devices are improving the technological sophistication of the chemical industry. Companies are working to use the data generated in production and the supply chain to optimize operations and enable real-time decision-making. However, to take full advantage of this trend, computing power must be pushed to the edgethat is, closer to the equipment and assets that are generating the data. To bring intelligent environments to life, a balance is needed between centralized infrastructures and edge computing. 11Copyright © 2018 Accenture. All rights reserved.
  12. 12. 12Copyright © 2018 Accenture. All rights reserved. WHAT DO SURVEYED CHEMICAL INDUSTRY EXECUTIVES THINK ABOUT INTERNETOFTHINKING? 87% 90% 83% say that organizations need a renewed focus on custom hardware and hardware accelerators to support real- time insights and actions. expect their investments in edge computing to pay for themselves within two years. agree that real-time insights from large volumes of data will require computing at the edge, where data is generated. Source: Chemical industry respondents in Accenture Technology Vision 2018 survey.
  13. 13. Trend 5 DATA VERACITY For the chemical industry, autonomous, data-driven decision-making is increasing as AI is used for manufacturing operations, R&D and customer interactions. However, AI is only as good as the data used to train it. Without establishing the veracity, or accuracy, of data, companies leave themselves vulnerable. And, these vulnerabilities can do great harm because data underpins maintenance, safety and even manufacturing process decisions. In a data-driven world, new vulnerabilities mean trust in data is imperative. 13Copyright © 2018 Accenture. All rights reserved.
  14. 14. 14Copyright © 2018 Accenture. All rights reserved. WHAT DO SURVEYED CHEMICAL INDUSTRY EXECUTIVES THINK ABOUT DATAVERACITY? 38% 68% 94% agree that their organizations are not prepared to confront impending waves of corrupted insights from falsified data. indicate that they are confident in the integrity (truth/quality) of the data their organization collects and uses. indicate that their company has not been the target of adversarial AI attacks (while 28% believe they have but are unable to verify it). Source: Chemical industry respondents in Accenture Technology Vision 2018 survey.
  15. 15. 15Copyright © 2018 Accenture. All rights reserved. Chemical companies are beginning to embrace new tools and plan how to take part in the digital revolution. MARK PINTAR Managing Director, Chemicals and Natural Resources Technology Lead Accenture
  16. 16. accenture.com/chemicalstechvision INTELLIGENT ENTERPRISE UNLEASHED: A perspective on the Accenture Technology Vision 2018 for the chemical industry 16Copyright © 2018 Accenture. All rights reserved. READ OUR REPORT
  17. 17. 17 CONNECT WITH US MARK PINTAR Managing Director, Chemicals and Natural Resources Technology Lead Accenture www.accenture.com/chemicals Accenture Chemicals @AccentureChems mark.a.pintar@accenture.com Copyright © 2018 Accenture. All rights reserved.

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