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April Series: Digital Transformation, Artificial Intelligence & The Future of Energy and Utilities

The Energy and Utilities Sectors stand to substantially benefit from the implementation of digital technologies. Many companies within these sectors have taken the leap to adopt technologies to streamline operations. Artificial Intelligence and the automation of benefit delivery is the key to the future of the Energy and Utilities Sectors. AI’s ability to address the similar massive scale and complex analysis of exceptionally large volumes of data in real time to reduce infrastructure strain will ultimately have a very strong impact on the entire value chain.

Over the past few weeks, within the United States, the national grid and its emphasis on being the future of the energy grid and renewables have become a hot topic. The average age of power plants in the US is approximately 30 years old the deterioration of these plants has the potential to do serious damage by putting people out of power – this is where AI steps in to stop the problem.

Increased asset reliability, outage prevention, preventative maintenance and improved customer experience are just few of the ways AI can aid the energy sector. This month, we will be conducting a deep dive into how Maestro AI can address the energy sector’s needs more specifically.

Source: i-Scoop

The trends in the application of Artificial Intelligence in Utilities will also be in discussion this month as they share many similarities to those of Energy. Based on the predictions in the above graphic, it is clear Utilities companies are turning to digital to enhance their bottom line as it is predicted that by just 2023, utilities will have digitally connected 75% of their assets.

With the implementation of Maestro AI, companies within the Utilities and Energy space will be able to capture unprecedented speed to value and bottom line improvement with ease. Subscribe to follow along this month for the April Series: Artificial Intelligence & The Future of Energy and Utilities to learn more about AI’s application in this space and our take on some of the hottest topics in 2021.

To learn more about what Maestro AI and Elutions can do for your corporation, contact us.

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Impacts: Covid-19 & Water Utilities

The COVID-19 pandemic’s lasting impact continues to strain utilities across the globe, but the Water and Sanitation Sector has had to face unique challenges. Frequent and proper handwashing is the most basic frontline defense against the spread of COVID-19, yet a quarter of the world’s population lacks access to reliable water supplies. According to the…

by SolvetheUnsolvable

Texas Interconnection, Renewable Energy Sources & Artificial Intelligence

The highly publicized and politicized Texas Winter Storm power outages sparked outrage across the United States and abroad. Many people from the public and private sector were quick to point fingers at utility providers while focusing a lions’ share of the blame on wind power. However, the blame placed on wind power was misinformed and…

by SolvetheUnsolvable

Artificial Intelligence, F&B Quality, Safety and COVID-19

The COVID-19 pandemic initiated a drastic change in consumer confidence and purchasing habits while redefining the approach to how select businesses approach their supply and demand for goods & services. The food and beverage, manufacturing and industrial processing industries continue to experience, respond to and rebound from these unexpected changes all while navigating a yet…

by SolvetheUnsolvable
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Artificial Intelligence & The Competitive Edge in Food and Beverage

The Food and Beverage Industry has been at the forefront of the technology adoption curve for many years, from more advanced robotics on the manufacturing line to 3D printed alternatives to meat, innovation is embedded in the industry. With the growth of consumer interest around nutrition, environmental, social and corporate governance and overall food safety has growing significantly in the past 15 years, companies have been focused on delivering products to increasingly demanding consumers with transparency into their products as well as their operations.

The answer for corporations has often resulted in increased in implementation of technology but with new technology comes new food and beverage options, changes in how products are manufactured and produced, increased competition and even more questions…

Innova Identifies Top 10 Food and Beverage Trends to Accelerate Innovation in 2021

While the food and beverage industry’s top concern has been and continues to be pleasing the consumer and their ever-changing needs, the questions remain:

‘how can they remain competitive in this saturated fast paced industry?’

‘will consumers be willing to try products that are produced with the assistance of technology?’

‘how can we achieve the high industry standards and remain profitable?’

‘how can we make high quality food and beverages accessible to all communities?’

As illustrated by the graphic below, implementation and application of digital infrastructure is “extremely important” to food and beverage executives. Over 40% of respondents reported that Artificial Intelligence and IOT are extremely important, a bit less than ERP or mobile technologies but this could be due to perceived complications in AI adoption. The executives also shared that their top concerns were inventory management, food safety and manufacturing process/ assembly, each of which can be addressed through the application of Artificial Intelligence.

TOP tech with food and beverage Type and process According to the RSM Digital Transfcymation Survey for the food and beverage industry. middle market executives indicated a focus on digital has become an even higher priority than cuer befcye. What's hnpcvtant to them in terms Of digital type and how do these technologies help their business processes? The top five digital applications or technologies ranked "extremely important" include: _4é_Å_, I top? Artificial intelligence (43%) Mobile technologies (48%) 5 Internet Of Supply chain tracking and monitoring (40%) Executives also ranked "to a great extent" the ways digital addressed these business processes: 40% Inventory management 40% Food safety Manufacturing process/assembly Customer service center 33% 32% Supply chain/production control Warehouse management Harnessing the power of deitalcan be cornplex and requies cyganizatimal change mulagernent and expertise to create a vision and process custcm to the needs Of the enterprise. An outskie perspective may be need ed to help evaluate and consideratims. Engage cmsultants who have deep industry experience to ensure you're getting the best digital strategy gudance. Conta us to the the nvaCt Of dist* truwfcxrnatk:n Learn map with st growth effcrts THE POWER OF BEING UNDERSTOOD AUDIT TAX CONSULTING RSM
Source: RSM

“Complications of AI adoption aside, one fact is clear: F&B companies must invest in new innovations to cut costs, grow revenue, and stay current with consumer trends.”

CIO Pride

The mainstream media has focused its coverage on the most innovative science and technology in the industry but the real benefit is derived from the operational application of Artificial Intelligence. Maestro Artificial Intelligence allows corporations to focus on internal innovation while optimizing the value chain and providing significant benefit with unmatched speed to value. In one example, Maestro AI allows plants the opportunity to reduce waste, thus furthering Net-Zero goals, while also increasing production uptime and yield to get products on the shelves.

This level of digital technology has never been more important to F&B as they are constantly tackling razor thin margins and cost as leading decision makers. Many manufacturers and producers have to question, should we build or should we buy? Many times it may seem more practical to build, especially without centralized control centers and disparate systems, but the team at Elutions has found time and again, from clients who have learned the hard way, that partnering with an industry expert is the more cost effective way forward. The way forward lies in gaining a competitive advantage by partnering with a provider like Elutions, with years of experience working with and connecting to existing systems in order to provide speed to value for clients and a true Artificial Intelligence Platform in Maestro, rather than the big tech players, who merely offer tools.

Maestro AI is proven to optimize the value chain and allow clients more flexibility to innovate while maintaining operational excellence and a competitive edge. To learn more about Maestro AI and Elutions, contact us.

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February Series: The AI Enabled Food & Bev Revolution

The global food and beverage (F&B) manufacturing industry is a behemoth, valued at 6111.1 billion dollars as of 2020 and expected to grow at a CAGR of 7% for 2021 to reach an estimated value of $7527.5 billion in 2023. Even though COVID-19 created some pretty significant supply chain issues for the F&B market it still grew in an incredibly trying year. The industry is essential to our way of life and digital technologies are essential to the survival and growth of the industry.

Artificial Intelligence has the potential to unlock complete value chain transformation for F&B manufacturers. Mckinsey reports that, “50% of [F&B manufacturing] companies that embrace AI over the next 5-7 years have the potential to double their cash flow.”

The team at Elutions says, why wait that long?

F&B Manufacturers have never been in a better position then they are now to begin rapidly digitizing their operations with AI to reduce time to market, implement automation in feedstock to increase speed and reduce yield, to reduce resource consumption and achieve Net-Zero goals and so much more. In February 2021 Solve the Unsolvable will be exploring the applications of Artificial Intelligence in the Food and Beverage Manufacturing sector.

How can AI deliver on its promises within F&B? How can AI help corporations achieve their Net-Zero goals with increased speed? How can AI combat COVID-19 in the F&B Manufacturing sector and maintain food safety goals?

Stay tuned to this month’s series to have all of these questions and more answered.

Maestro AI is proven to deliver transformational benefit for the F&B manufacturing industry across the entire value chain at unprecedented speed to value. To learn more about Maestro AI and Elutions, contact us.

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Oil & Gas Giants: Amidst Market Volatility, LNG Market looks to Artificial Intelligence

The Liquefied Natural Gas (LNG) market is increasingly being defined by its volatility. From increases in spot prices to intense commercial demand expectations, cargo cancellations, shipment delays and more, it is widely reported that, “unplanned maintenance at LNG export facilities from Australia to Qatar to Malaysia has led to a tighter than expected market in the second half of the year [2020].” This unplanned maintenance, combined with “pandemic prompted dramatic price swings” has led to the halt in growth in the LNG market in 2020. As a result, LNG has been looking to digital transformation to ramp up recovery, avoid stagnant growth and deliver on increasing market pressure.

While the cost of oil drops for consumers, due to social impacts of COVID-19, the LNG market is preparing for long-term implications. LNG is poised to experience more growth in comparison with the traditional use of oil and coal in consuming countries as the spot market has made LNG a more attractive option. Consumers have been incentivized by low LNG prices, relative to oil and gas prices, to make a switch.

Though the outlook for LNG growth in 2021 is quite strong at this point, the market is still unpredictable. LNG, in the position of a relative newcomer in respect to oil and coal, will benefit from swift implementation of digital in their early stages of growth. Gaining an even greater competitive edge in LNG is dependent upon digital adoption where speed to value becomes the most critical element in a technology deployment.

Source: Nobel Upstream

For years the LNG and larger Oil & Gas market have been turning towards digital technologies for their many benefits, not the least of which being promises of decreased costs and increased efficiency. However, they have never felt a more significant pressure to extract value from digital then what they are experiencing right now. Many O&G corporations that were early adopters have previously been failed by tech companies touting pie in the sky Artificial Intelligence platforms which merely turn out to be static algorithms at best. After a failure to deliver on hype and promised benefit, these tech companies have only left behind frustration and a distrust in AI’s true capabilities.

These early adopters can rest assured that the marketplace has seen a significant shift from the early days of promises and theoretical AI to concrete benefits in practiced AI. What was once seen as potential benefit is now being realized. As mentioned in the above graphic, making the best of existing technology, through the implementation of Artificial Intelligence which utilizes existing infrastructure, like Maestro, can yield significant cost savings. LNG producers, driven by everchanging costs, need to adopt Artificial Intelligence to survive in todays’ landscape.

The pandemic has been a great shock to the market but with this shock comes an exciting opportunity for change. Leaders have been given the opportunity to evaluate existing business strategies and identify opportunities for growth. LNG producers have the potential to extract significant financial value and increased profit from digital and further their growth position in the O&G market. Digital value chain transformation will afford LNG opportunities in increased flexibility and responsiveness of their production to market conditions. 

A critical element in the LNG and overall O&G journey to choosing a partner to adopt Artificial Intelligence with is the partner’s ability to deliver immediate value. Speed to value is driven by many factors but industry expertise, like that of Elutions’ Maestro, is paramount. To learn more about Maestro and individual case studies in the Oil & Gas sector, please contact us. 

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Crystal Ball 2021: AI Combatting Disruption due to COVID-19

Today’s world is increasingly surrounded by fear. Not just fear of COVID-19, but also of the unknown fears: loss of market share to a competitor, the creeping suspicion that businesses may be outperforming yours, everywhere, all the time. Business leaders need to grasp the understanding that the cost of doing nothing now, significantly outweighs the cost of taking action later.

It can be said with confidence that 2020 has been defined by COVID-19 and its impact to families, consumers and especially businesses in all industries around the globe.

Thus, our fourth and final prediction for Artificial Intelligence in 2021:

AI Combatting COVID-19 Disruption.

Crystal Ball Predictions 2021: This article emphasizes AI Combatting COVID-19 Disruptions

COVID-19’s disruption significantly impacted numerous industries, not the least of which include Chemical Manufacturing, Oil & Gas, Higher Education and more. Elutions continues to address COVID-19 related business challenges and more through Maestro’s AI capabilities. There is more pressure than ever on these corporations to make 2021 a year to rebound from demand, workforce reduction, production, shipping and more. The use of holistic end-to-end Artificial Intelligence, namely Maestro AI, provides a bright and ready solution for unmatched speed to value. 

There has never been a time in modern history like 2020 where the increasingly urgent necessity for immediate solutions to business quandaries has been met with an equally robust solution as Artificial Intelligence. In the consumer space, we see this with AI enabled chatbots as a solution to the increasing customer service demands of consumers who are now spending more time than ever online shopping.

But what about a solution to address the onslaught of shipping as a result of shifted consumer purchasing habits due to COVID-19? Maestro is leading the way, helping shipping companies optimize their process from the warehouse down to the delivery route.

Source: Gartner

For further proof that the market, as a result of COVID-19, is responding to AI in leaps and bounds, the above information from a Gartner study of IOT implementation stated that 47% of respondents will be increasing their plans to implement to reduce costs.

In the commercial space, the use of AI in the pharmaceuticals and healthcare industry is top of mind, especially with the fast-tracked COVID-19 vaccines. An already overwhelmingly positive impact of AI, due to COVID-19, is the ability to develop vaccines and medications with greater speed than ever before, leading to change in the entire process of how we develop and test new medications for the future.

But could AI be the “vaccine” all industries need to improve future demand forecasting, prevent future disruption and stabilize now?

The answer is a resounding “yes”.

The increased demand for Artificial Intelligence has already been observed in 2020 and the adoption of AI will be widely implemented in 2021. Let 2021 be a year of digital transformation with Elutions as your partner. To learn more about specific case studies of Maestro Artificial Intelligence applied, please contact us.

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Crystal Ball 2021: AI to Solve the Unsolvable

We have never been closer to the precipice of a digital future than we are right now – this future is defined by those who make the commitment to move to a digitized environment and where those who do not inevitably fall behind. The trend towards Artificial Intelligence’s commercial use and application has been on the rise for several years, making businesses that were quick to adopt its power more productive and more efficient as a result. Business leaders must take action and make the choice in order to preserve the future of their business.

As we look toward an uncertain future, our third prediction for Artificial Intelligence in 2021 is revealed:

Applying AI to solve what were previously considered to be unsolvable business challenges as well as new business challenges from the evolving world we live in.

Crystal Ball Predictions 2021: This article emphasizes Solving Unsolvable Business Challenges

Artificial Intelligence is becoming more ingrained in our society on a daily basis and, as illustrated in the graphic below, the benefits are substantial. With a predicted spend of nearly $60 Billion in 2021 on cognitive and AI systems, it is important for business leaders to consider all challenges as opportunities in order to optimize the value-chain’s performance and profitability through Artificial Intelligence.

Statistics for 2021

61% of business executives currently implementing an innovation strategy say that AI helps them identify otherwise missed opportunity in data.

AI is helping businesses solve challenges they may not have known even existed, especially with holistic solutions such as Maestro AI, able to not only determine but take action on root cause variables. Today there is increased pressure on leaders to continuously improve performance with less resources, thus creating the perfect opportunity for digital transformation.

At Elutions, AI is the missing link in addressing a business challenge that is so great that even the most proficient teams of data scientists are unable to solve it. After all, the objective of AI, and is the case with Maestro’s AI, is to continuously ensure optimized outcomes with certainty, when so many dynamic variables impact operations that point-in-time analysis is irrelevant and the required speed, scale and depth of analysis is beyond human and standard algorithmic capabilities.

The upcoming new year, 2021, will kick off a massive wave for years to come towards implementing AI in all facets of business, particularly process heavy industries. Business leaders are prepared to capitalize on the benefits of AI and improve their productivity as well as decision-making capabilities.

To learn more about solving your unsolvable business challenges and Maestro Artificial Intelligence applied, please contact us.

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Crystal Ball 2021: The Digital Leapfrog

The term “leapfrog” may evoke childhood memories of playing on the playground where the idea of leaping over your friends like a frog leaping towards its destination made more sense than conventionally walking there. But in the context of technological advancement, you may be asking yourself, “what does leapfrogging actually have to do with digital transformation or Artificial Intelligence?”

Enter our second AI prediction for 2021:

Comprehensive Artificial Intelligence platforms, such as Elutions‘ Maestro, will act as a digital leapfrog to bypass outdated systems, investments in new infrastructure and out-navigating your competitors.

Holistic Al Digital Leapfrog Solving Unsolvable Business Challenges Combat Covid-19 Disruptions
Crystal Ball Predictions 2021: This Article Emphasizes The Digital Leapfrog

The concept of leapfrogging is not new, in fact it has been used in industrial organization and economic growth for many years. However, the concept of using new technologies, such as AI, to leapfrog various stages of technical infrastructure or development is quite revolutionary. The digital leapfrog makes the notion of gradual upgrades/ development obsolete and introduces the ability to disrupt the developmental stages with one huge leap past steps that may have otherwise taken years and significant financial investment to implement. The idea that growth must follow a linear pattern can be tossed aside with just one leap, if only a corporation is ready to make the jump.

Digital Leapfrogging has not been widely reported upon, written about or discussed by the consultancies and large tech companies of the world, for strategic reasons on their part. A simple google search will not produce much on the topic, but why?

The leading corporations of the world have made a fortune off of convincing businesses to follow the antiquated path of upgrading their “technological stack” or selling them on the notion that they need to purchase/ implement additional technology, such as data lakes, prior to adopting Artificial Intelligence. This approach has been utilized for many years as a tactic to get as much business from a single client as possible. This sales model has had a widespread impact on industrial purchasing and is ingrained in such a way that the digital leapfrog might seem impossible as it disrupts this entire process. Rest assured, the digital leapfrog is not only possible, taking the leap vastly increases a business’ speed to value.

The digital leapfrog presents the opportunity to use existing systems to “leap” past the competition, without additional cost, and into the future with Maestro Artificial Intelligence.

Our prediction is that, due to the uncertain times we are living in and the need not only for stability but also for exponential growth, the time of linear progression & upgrading the technological stack is long gone. Not only is it extremely costly to continuously invest in a tech stack, in most cases it is entirely unnecessary or made redundant when the end goal is an Artificial Intelligence implementation. In this day and age, many businesses are in desperate need of speed to value, something that only a digital leapfrog can provide.

Many industries are poised to benefit from Artificial Intelligence as a leapfrog, including Healthcare, Education, Telecom and Banking but those with the opportunity to use AI as a transformational leapfrog are Industrial & Chemical Manufacturing, Utilities and Oil & Gas corporations. Many manufacturers, utilities and O&G corporations run large, and sometimes international estates, with a multitude of plants or sites that may all have disparate systems, or existing infrastructure/ assets that varies in age, lifecycle and capability, the perfect environment for Maestro AI as a leapfrog.

It may all seem too good to be true, this is revolutionary and can be difficult to accept due to established procurement and purchasing habits that have been plaguing businesses for years, but it is possible with the right partner. Most leaders and organizations want breakthroughs but many of the large tech corporations are not willing to provide true innovation. The team at Elutions specializes in breakthroughs, using Maestro AI not only to leapfrog internal technological development with its ability to connect previously disparate assets, infrastructure and systems, but also to leapfrog past the competition with unrivaled speed to value.

In 2021 we will see a rapid increase of AI adoption as a digital leapfrog. Let 2021 be a year of digital transformation with Elutions as your partner. To learn more about specific case studies of Maestro Artificial Intelligence applied, please contact us.

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Crystal Ball 2021: A Push Towards Holistic Artificial Intelligence

According to the International Data Corporation (IDC), a premier global market research company, “Artificial Intelligence and machine learning are top of mind for most organizations today, and IDC expects that AI will be the disrupting influence changing entire industries over the next decade.” Given the important role that Artificial Intelligence will play in digital disruption in the coming decade, it’s important to define what AI really is.

There are many buzzwords in the AI space leading to confusion in the marketplace and a deep misunderstanding of what AI is and what it is capable of achieving. AI is not one thing, it’s a generalized term for software or a platform that can imitate human intelligence and can be applied in a virtually limitless number of ways. Buzzwords like, neural networks, deep learning, natural language processing and machine learning can all roll up into the tight little bow of Artificial Intelligence and they are the building blocks which an AI platform uses to “learn” for itself.

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A snapshot at how embedded AI already is in our day-to-day lives
Source

AI can be applied in many different ways. We see AI being applied in our everyday lives if we have a smartphone that uses facial recognition to unlock, an Amazon Alexa to tell us the news and through social media, take TikTok’s notoriously smart algorithms that make the platform so addictive. AI is all around us, even commercially, though the commercial space has been slower to adopt AI technologies.

The commercial space has predominantly taken a more ‘piecemeal’ approach to adopting digital technologies, yet to fully capture the benefits of true artificial intelligence due to the use of discreet solutions, like advanced analytics or automation only to target a piece of their full process. There are many use cases of automation on manufacturing lines or chatbots in the customer services department but what about a holistic end-end approach?

Enter the first AI prediction for 2021

Holistic, end-end Artificial Intelligence, like Elutions’ Maestro, will replace the currently isolated approach to adoption of discreet digital technologies.

Crystal Ball Predictions 2021: This Article Emphasizes Holistic AI

Leaving behind solutions, touted as AI, that only addresses one piece of the process, like predictive maintenance, and adopting true AI that is self-learning, self-adapting and applied in an end-end approach to drive and even automate actionable intelligence across the entire value chain is the way of the future. The piecemeal approach may have worked in the past but with the new normal we are living in businesses need to begin thinking about their processes as if they were living, breathing beings.

Let’s think about it this way, if an overweight patient goes to the doctor and they are experiencing knee pain, a pain killer or a cortisol shot might address the pain right away and in the short term, but what about addressing the root cause? The doctor can see the full picture and knows that for sustained change, the patient will have to lose weight to rid themselves of their knee pain.

Now, let’s apply this analogy to a manufacturing plant, the plant is the patient and Holistic Artificial Intelligence is the doctor. A discreet solution, one that perhaps only addresses maintenance, is only able to impact one specific point in the manufacturing process, this solution can only prescribe a painkiller. However, an end-end solution is capable not only of detecting the root cause of a maintenance issue, but also addressing the pain point, it’s chain effect on the process, prescribing and in the case of Maestro, automatically implementing a holistic solution.

A great approach for businesses to best take advantage of AI, whether they are a University, Manufacturer or an Oil and Gas corporation is to focus on outcomes and addressing pain points. Businesses must focus deeply on their individual challenges and use Artificial Intelligence to address them as a whole. For example, many manufacturers experience asset downtime and plant failure as a major site challenge, a challenge that can be addressed and significantly reduced, if not eliminated entirely, with a holistic end-end AI approach.

In 2021 we will see a rapid increase of AI adoption to address a host of challenges across the entire value chain. Let 2021 be a year of digital transformation with Elutions as your partner. To learn more about specific case studies of Maestro Artificial Intelligence applied, please contact us.

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December Series- A Look into the Crystal Ball: Artificial Intelligence in 2021

It’s hard to believe that another year has come and gone, given how strange 2020 has been, but here we are in December looking back on a trying year for many and looking forward to 2021. The team at Elutions, and Solve the Unsolvable, are looking into our Crystal Ball to make our predictions for Artificial Intelligence and the Digital Landscape in 2021. Get excited, because AI is trending up again in 2021.

Some of the large trends we see for 2021 include, a move away from discreet solutions to a holistic end-end approach, using AI as a digital leapfrog to reduce spending, using AI to address previously unsolvable problems, new use cases and finally AI as a way to continue to combat disruption from COVID-19.

A Look into the Crystal Ball: AI in 2021

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National Chemistry Week Celebration!

Each year in the United States, since the late 1980s, the American Chemical Society (ACS) has designated a week, National Chemistry Week (NCW), to celebrate and promote to the public the positive changes in the Chemical Industry. This year’s NCW theme is “Sticking with Chemistry” with a focus on Glues and Adhesives, something that touches all of our lives, almost daily and especially the lives of children. While the ACS predominantly focuses on educating elementary and secondary school children, we would like to share our thought leadership with businesses around the globe.

As a company with several partnerships within the Chemical Industry, including a membership in the Chemicals Industry Association in the United Kingdom, Elutions is excited to share the positive changes we, and Artificial Intelligence in general, have made through Chemical Themed articles celebrating this year’s National Chemistry Week from October 18th through October 24th.

Please check out our upcoming articles on Monday 10/19, Wednesday 10/21, and Friday 10/23 about the positive changes being made, specifically in the Chemical Manufacturing Industry, through Artificial Intelligence and our AI platform, Maestro.

To learn more about Maestro, please contact us.

Up Next for NCW: Digitization and Chemical Manufacturing

Stay up-to-date on this series and all of our industry disrupting insights!

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