Home » Opinion » Navigating the complexities of digital transformation in manufacturing: Gaurav Vyas, AVP – Strategy (Director’s Office), Reliance Industries Ltd Implementing digital transformation requires changes in organizational culture, processes, and workflows End-to-end digitization in the oil and gas industry presents several challenges as the operations and nature of business is itself complex. Moreover with regulatory requirements, and the scale of the industry with varying degree of digital maturity levels of various facilities even within the same organization, plug and play solutions and one size fits all for end to end digitization is not an option in the oil & gas, chemicals and petrochemicals industry. Digital transformation is not just required for maximal gains but it could also be a way to survive with global energy transition likely to lead to the closure of marginal assets across the oil and gas value chain in the coming decades. To remain competitive, oil and gas assets strive to transform operations, by improving yield, energy, throughput, reliability and availability while reducing costs The main challenges, barrier and impediments faced in end to end digitization in manufacturing space, particularly in oil and gas, chemicals and petrochemical installations as following Legacy Infrastructure: Though […]

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Apromore, a leading provider of AI-driven process mining and digital solutions, announced it has closed an additional $15 million in funding as an extension to its Series B, led by existing investors with participation by Tin Alley Ventures, a joint venture between Tanarra Capital and the University of Melbourne and other investors. This funding brings the total amount of the Series B round to $25.3 million USD / $38.7 million AUD. Apromore has been continuing to experience momentum, with its revenue growing by triple-digit growth rates in the last twelve months. And the new investment enables Apromore to continue delivering rapid value to its customers and will be used to support additional expansion in the US and Europe and accelerate Apromore’s AI product roadmap. The company – which is building on its digital twin capabilities and its no-code user experience – will continue to extend the platform’s capabilities with an AI-enabled optimization engine to recommend opportunities to simplify, automate, and standardize activities and workflows, and to provide conversational interfaces for efficient discovery, analysis, and simulation of end-to-end processes. The lack of as-is process visibility and the inability to model and test changes or automation before implementation can compromise promising […]

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You might also like Chinese technology giants including Huawei Technologies Co (華為) and Baidu Inc (百度) as well as start-ups are stockpiling high bandwidth memory (HBM) semiconductors from Samsung Electronics Co in anticipation of US curbs on exports of the chips to China, three sources said. The companies have ramped up their buying of the artificial intelligence (AI) capable semiconductors since early this year, helping China account for about 30 percent of Samsung’s HBM chip revenue in the first half of this year, one of the sources said. US authorities are planning to unveil an export-control package this month that would impose new restrictions on shipments Cathay Pacific announces US$11bn deal for new jets 2024-08-08 Hong Kong carrier Cathay Pacific Airways Ltd (國泰航空) yesterday said that it would buy at least 30 Airbus SE A330-900 aircraft in a deal valued at US$11 billion as it looks to build on a post-COVID-19 recovery and reach pre-pandemic passenger numbers next year. The firm made the announcement as it reported a drop in profit in the first half of the year, having moved into the black for the first time in four years last year thanks to a pickup in post-pandemic demand. […]

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Digital transformation efforts help strategic analytics teams at all types of businesses leverage the information generated to improve business results. July 12, 2024 Many companies have embraced digital transformation as one of their business strategies, but quantifying what that means is often harder than it looks. Businesses ultimately want to be more agile and nimble in responding to a changing world so they can meet customers where they are. This is often driven by their overarching desire to increase their profitability and in many cases provide shareholder wealth. As an analytics leader, you must learn what digital transformation means for you and your teams and how you can pivot your activities to meet the strategic challenges. For Further Reading: Five Best Practices to Digitally Transform Your Business What Healthcare IT Leaders Need to Know about Digital Transformation Data Shows COVID-19 Accelerates Digital Transformation of Frontline Workers First, you must understand just what a digital transformation is. Breaking the term apart can help. Transformation is defined as the induced or spontaneous change from one state to another. Businesses can go through a transformation either spontaneously (as they watch competitors and peers make changes) or it can be induced (as they […]

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(Image credit: Getty Images) Infosys has announced an expansion of its AI-focused strategic collaboration with ServiceNow to provide new end-to-end managed services to the enterprise. Building on the pair’s existing partnership, these new managed services will leverage the AI capabilities of ServiceNow’s Now Platform and Infosys’ Enterprise Service Management Café (ESM Café) to better aid organizations in their business transformations. As part of the agreement, Infosys said it will aim to accelerate the ServiceNow implementation for organizations – which include First Abu Dhabi Bank (FAB) – by “almost 30 to 40 percent” to facilitate faster time-to-value. Enterprises will have access to a suite of solutions that include licenses, services, as well as the implementation of Infosys’ ESM Café AI-powered plug-and-play offering. LATEST VIDEOS FROM itpro Channel Pro In an announcement, Umashankar Lakshmipathy, Infosys’ EVP and head of cloud, infrastructure, and security service for EMEA, said the ServiceNow platform will enable better support for enterprises and their digital transformation journeys. “Our long-standing relationship with ServiceNow and deep expertise in their platform, combined with the Infosys ESM Café, will enable companies like FAB to drive efficiency, productivity, and continuous service improvement across their enterprise,” he said. “The outcome of this collaboration […]

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Digital transformation is the fundamental rewiring of how an organization operates. The goal of a digital transformation, as outlined in the new McKinsey book Rewired: A McKinsey Guide to Outcompeting in the Age of Digital and AI (Wiley, June 20, 2023), should be to build a competitive advantage by continuously deploying tech at scale to improve customer experience and lower costs. Get to know and directly engage with senior McKinsey experts on digital transformation. Eric Lamarre is a senior partner in McKinsey’s Boston office; Harry Robinson is a senior partner in the Southern California office; Jeff Galvin is a senior partner in the Tokyo office; Kate Smaje is a senior partner in the London office; Kia Javanmardian , Naufal Khan , and Vik Sohoni are senior partners in the Chicago office; Lareina Yee is a senior partner in the Bay Area office; Richard Sellschop is a senior partner in the Stamford, Connecticut, office; Rodney Zemmel is a senior partner in the New York office; and Simon Blackburn is a senior partner in the Sydney office. Like any commonly used phrase, “digital transformation” has devolved into a catchall term that means different things to different people. That’s a problem. Digital […]

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Pune, Aug. 09, 2024 (GLOBE NEWSWIRE) — Procurement Software Market Size Analysis: “According to the SNS Insider Research, The Procurement Software Market size was valued at USD 7.71 Billion in 2023 & is projected to reach USD 18.76 Billion by 2032, with an increasing CAGR of 10.40% Over the Forecast Period of 2024-2032.” Market Analysis The rising adoption of procurement software across industries where there is a need for hassle-free, simplified, and fast-moving goods purchasing in order to make the process more efficient. It has solutions intended to fix inefficiencies and maintain control over inventory. This solution allows businesses to generate and approve purchase orders, request products or services for procurement, receive matching invoices, and process online payments. Procurement software empowers companies to perform optimal purchasing and pricing activities, essential for enterprises procuring large quantities of goods. This allows companies to work with suppliers, manage events, and reports, and analyze business intelligence data for predictive and planning purposes. Procurement software is in higher demand because of the benefits it offers, such as better efficiency and transparency with the goal to support standardized production supply at optimum prices. Cirtuo in 2022, announced its introduction of digital procurement platform which includes […]

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The United Nations in Jordan prioritizes empowering youth as a key strategy in achieving the Sustainable Development Goals (SDGs). With 40.5 per cent unemployment rate among young people aged 20-24 years in Jordan, the need for equipping them with essential skills, particularly digital ones, is critical. Through various programmes, the UN works closely with young people, providing them with the tools needed to navigate and thrive in the current job market. Digital Skills Essential for Youth to Learn and Earn: Salah Al-Din’s Story Caption: 20-year-old Salah Al-Din "I would consciously observe and be fascinated with how technology can uplift communities and make life easier in so many ways. I saw an opportunity and wanted to be part of this world," says 20-year-old Salah Al-Din. Before entering university, Salah Al-Din followed his passion and joined the UN Children’s Fund (UNICEF)-supported programme- Digital Skills for a Better Future. Informed by research on the needs of the Jordanian job market, and in partnership with Jordan’s Ministry of Digital Economy and Entrepreneurship (MoDEE) and Digital Opportunity Trust (DOT), the programme aims to bridge the digital divide and enhance vulnerable young people’s employability by equipping them with demand-driven digital skills. It also links them […]

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Ogden, Utah, Aug. 09, 2024 (GLOBE NEWSWIRE) — The Catalyst Accelerator Ogden (CAO) is pleased to announce the launch of its Fall 2024 Accelerator, in collaboration with the Department of the Air Force (DAF) Digital Transformation Office (DTO). This prestigious program unites eleven innovative small businesses from across the United States to tackle a critical challenge statement focused on the Digital Modernization of the Air Force. The Digital Transformation Office has identified a pressing need for technological advancements that will modernize Air Force operations and enhance cybersecurity. Specifically, the DTO is seeking innovative solutions in areas such as AI/ML, Data Fusion and Integration, Automation, and Cybersecurity. The challenge is to develop scalable, interoperable, and secure technologies that will optimize predictive maintenance, improve situational awareness through data integration, streamline workflows via automation, and fortify the cybersecurity of Air Force systems. The Catalyst Accelerator Ogden exists to empower nontraditional technology companies by providing them with the necessary tools, mentorship, and connections to accelerate their integration into the national defense ecosystem. Throughout the program, the selected companies will work closely with subject matter experts, collaborate with government and commercial mentors, and engage in an intensive customer discovery process. This rigorous program will […]

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Evidence shows that global warming and climate change are rooted in man-made greenhouse gas emissions since the industrial age (see, for instance, IPCC, 2022). Decarbonisation of the economy has become a top policy priority in many countries in order to reach the UN’s net zero emission targets by 2050. Today, however, the world is still dramatically off-track to reach these targets, although appropriate green technologies are available for implementation (see, for instance, Rogelj et al. , 2021; Gielen et al. , 2019; Resch et al. , 2008). 2 The digital transformation refers to the massive adoption of digital technologies in all parts of society, which boosts the generation, processing, and sharing of information. This ongoing transformation (characterised, for instance, by big data, the Internet of Things [IoT], robotics, sensors, and artificial intelligence [AI]) is creating new service industries and heavily effects labour markets (Katz, 2017). At the same time, the digital revolution is capable of supporting sustainable development, but only if properly guided (Gensch et al. , 2017), since digitalised regions are more likely to succeed with the twin transition than green (only) regions (Fazio et al. , 2024). Lacking deliberate guidance, digital technologies will forge ahead and foster […]

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