The use of AI by chemical companies is advancing
Chemical companies are exploring the potential of artificial intelligence (AI) and machine learning to optimize daily operations, create better customer experience and develop innovative products, while improving operational efficiency and reducing costs. Examples include using AI to simulate processes to support product development, as well as maintenance and "smart factories.".
The research on more than 1000 early interviewers of artificial intelligence shows that the use of artificial intelligence in chemical companies is advancing: 61% of the enterprises have exceeded the pilot stage and started to implement machine learning or other forms of artificial intelligence, and 91% of the enterprises strongly agree that the process of machine learning support helps them realize their previously hidden value.
Chemical companies have taken the risk, and they've seen huge gains - 72% of companies report at least a two-fold increase in some process KPIs, and 37% a five fold increase.
Three interrelated dimensions
As Accenture's Paul Daugherty and h. James Wilson further explain in "human + machine: reimagining work in the age of AI", leaders in all walks of life make use of the three interrelated dimensions of AI: human + machine: reimagining work in the age of AI
Redefine process: Rethink standardized process, make it adapt continuously and apply AI to manage process change.
Using data: Using AI and data to solve previously unsolved problems and reveal hidden patterns.
Rethinking human-computer cooperation: turning to artificial intelligence culture, retraining employees to cooperate with machines.
Only 7% of chemical companies - and 10% of cross industry enterprises - have systematically completed these three tasks. They are developing their capabilities at different rates in these areas:
17% of companies systematically use AI to re imagine processes.
31% of companies use data and AI to achieve exponential improvements.
45% of companies are rethinking how humans and machines work together.
So far, one of the main benefits of artificial intelligence in the field of chemicals is safer operation.
