44 minute read
16 Hot Tech Trends 2022
Hot Tech Trends Across 16 Industries
Our research has identified 16 Hot Tech Areas.
In this section, each of these 16 Hot Tech Areas have been defined.
They span across three layers – the tech layer, the process layer and the business layer. There is an intrinsic relation between the three layers e.g. focus on tech layer will have impact on the process and in turn the business layer.
A color coding has been used through the report that identifies the trend associated with each Hot Tech Area for Each Industry. Green indicates a trend that has high probability of happening, orange indicates moderate probability and grey indicates low probability.
INSIGHTFUL YEARS
Hot Tech Areas for 2022
16 Tech Areas that will See Increased Focus in 2022, Though the Intensity May Vary by Industry
New Digital Business Model
Customer Life Cycle Management Employee Life Cycle/ Learning Ecosystem Management
BUSINESS
End to End Service Delivery Capability
Omni Channel Digitalized Supply Chain Hyper Local
PROCESS
Best of Tech 2022
Business Process Automation Digital Operations/ Industry 4.0
Customer 360
Enterprise Data Management
Enterprise Analytics, AI, ML, IoT, and RPA Platform
TECH
IT Operations, Management, and Security Cloud Native Infrastructure Open Market Applications Architecture
DevOps and Automated Testing and QA
COLOR CODING
High Probability - most of the companies across sectors have done or plan to do or have clear needs – trend is in full stride
Moderate Probability – some companies or sectors have done or plan to do, or have clear needs, fully or partially - trend is in the making
Low Probability- very few companies or sectors have done or plan to do or have clear needs - the need is still latent at a broader level
Source – Coeus Age Analysis, 2022
Hot Tech Trends Across 16 Industries
#1 New Digital Business Models Shall be Experimented through 2022
Though a phenomenon across sectors, the Auto sector leads and shall continue to invest through 2022 on New Digital Business Models. Yet most of these models shall remain in the initial stages and will take time to witness traction.
Description
Growth pressures demand new business models for new revenue sources New Digital Business Model is about identifying and addressing a new revenue stream, a new market, or new products and services using a digital native strategy. It includes
New online market places
‘Build your product’ platform
New services (like auction) platform
Ecosystem Innovation
A new eCommerce P&L
A community engaging platform (e.g. for the Farmers)
On the Ground
“BFL is developing 5 proprietary marketplaces. These involve: (i) the ‘EMI store’; (ii) the ‘Insurance Marketplace’; (iii) the ‘Investment Marketplace’; (iv) ‘BFL Health’; and (v) the ‘Broking App’” (Bajaj Finance Limited, 2021) “‘Make it Yours (MiY)' programme where customers can choose new model via RE app, website and create motorcycle with their own choice of accessories. Supports service modules (Android and iOS platforms).” (Eicher Motors, 2021) “‘eDiig' Auction Platform: Auctioned 5 lakh+ vehicles to become the market leader in the online auction space.” (M&M, 2021) “Tata UniEVerse, is an entire electric mobility ecosystem, incubate electronics and software is to upscale competencies on Future Technologies, Disrupting Trends, Existing skill enhancement, Process improvement.” (Tata Motors, 2021) “We are ramping up our e-commerce business, which is a separate P&L. accountability and fully functional capabilities across sales, marketing, innovation, supply chain, and finance. D2C selling provides incredibly rich consumer data. We have tested exclusive e-commerce variants of our current brands.” (Godrej Consumer, 2021) “e-Volve: a first-in the-Zinc industry B2B online commerce platform.” (HZL, 2021) “Company is scaling up e-Choupal 4.0 - a crop-agnostic ‘phygital’ integrated agri solutions platform. This digitally powered platform seeks to empower the farming community by delivering customised solutions by synergistically integrating NextGen agri-technologies.” (ITC, 2021)
Source – Coeus Age Analysis, 2022
Banking Insurance NBFC Auto Manufacturing - Discrete Manufacturing - Process
Industry Wise
Metals and Mining Oil and Gas Power and Utilities Retail CPG Pharma Hospitals Media Logistics and Supply Chain Infrastructure & Construction
Moderate Moderate Moderate High Moderate Moderate Moderate Low Moderate Moderate Moderate Moderate Moderate Moderate Low Low
INSIGHTFUL YEARS
#2 Customer Life Cycle Management Shall Evolve Out of the CRM Drive in 2022
The Customer Life Cycle Management drive is prominent in Banking, NBFC, and Auto industries where the CRM is evolving into a cohesive CLM initiative. Best of Tech 2022
Description
Customer Life Cycle Management is an abstract layer that builds upon multiple systems (customers data, financials, operational, and social) and is aimed at using digital for
Mapping the demographics, behaviour and activities
Enabling all the customer touch points
Continuously gauging their needs and
Offering the right products and services at the right time over the life cycle Customer Life Cycle Management may start with a simple CRM but eventually evolves into a fully integrated, intelligent, and largely autonomous platform that leverages big data analytics, AI, ML, and RPA
On the Ground
“The entire customer life cycle beginning with lead generation is empowered through the use of an enterprise Customer Relationship Management (CRM) at the branches, contact centre and the digital channels.” (Mahindra and Manhindra Financial Services Limited, 2021) “Going forward, Tata Capital will continue to focus on digitizing and simplifying the complete customer lifecycle to best cater to the growing needs of the evolving customers.” (Tata Capital) “Introduced an integrated CRM platform to engage with customers throughout their lifecycle.’ (SBI, 2021) “The company is also looking to create a unified platform for customer lifecycle management – MyFortis. The solution will offer one stop shop for patients to book appointments for consultations/ diagnostics, store and view medical records, conduct tele/ video consults, medicine delivery, etc. This will be fully integrated with other Fortis digital systems including HIS, Oracle and the feedback management system.” (Fortis Healthcare, 2021) “Maruti Suzuki has identified 26 such touchpoints to work on and nearly 23 of those are fully digital” (Maruti Suzuki, 2021, online)
Source – Coeus Age Analysis, 2022
Banking Insurance NBFC Auto Manufacturing - Discrete Manufacturing - Process
Industry Wise
Metals and Mining Oil and Gas Power and Utilities Retail CPG Pharma Hospitals Media Logistics and Supply Chain Infrastructure & Construction
High Moderate High High Low Moderate Moderate Low Low Moderate Moderate Low Moderate Low Moderate Low
Hot Tech Trends Across 16 Industries
#3 Employee Life Cycle/ Learning Ecosystem Management to Evolve Out of the HRIS Drive in 2022
While enterprises across sectors have been putting an automated (and integrated) HR automation system, it is now time to evolve it into managing the entire process from hire to retire. The pandemic has also catalysed the focus on leveraging digital for learning. The use of AI, ML promises to make the process highly personalized, both in terms of content and pace. BFSI, Auto, CPG and Pharma will be progressing faster in 2022.
Description
Employee Life Cycle Management is an abstract concept that builds upon multiple systems (employee data, financials, operational, and social) and is aimed at using digital for
Mapping the demographics, behaviour and activities
Ensuring seamless services, from hire to retire
Continuously gauging their needs and
Offering the right content for personalized development Employee Life Cycle Management may start with a simple HRIS but eventually evolves into a fully integrated, intelligent, and largely autonomous platform that leverages big data analytics, AI, and ML Tech driven personalizing engagement and learning
Self paced learning, short burst learning content, gamification, and MOOC
Ai, ML driven personalized learning, mobile enabled Integration with the Employee Life Cycle Management initiative
On the Ground
“Launched our AI-enabled learning app encouraging ‘learning on-the-go’ and ‘peer-learning’”. (Aditya Birla Capital Limited, 2021) “The entire employee life cycle is mapped on to one of the leading Human Resource Management System (HRMS) and supplemented with other applications. (Mahindra & Mahindra Financial Services Limited, 2021) “InstA is our knowledge platform powered by Artificial Intelligence. It is a virtual assistant for Sales and Service teams. (HDFC Life, 2021) “Human Resource Information System (HRIS): brings together the entire range of HR processes and systems under a single roof, offering anytime, anywhere access to leaders and employees. (ICICIPru, 2021) “Resorted to online training, which includes e-Gurukul platform and online courses through Learning Experience Platforms (LXPs).” (Maruti Suzuki, 2021) “A new-age employee portal has been launched which provides a single window experience. We have a clear strategy of leveraging the cloud for innovation, agility and scalability.” (Asian Paints, 2021) “Online Employee Life Cycle processes enabled with “Employee self Service” and “Manager Self Service” modules empowered employees and led to an enhanced experience of HR Processes.” (Bajaj Consumer, 2021) “MentForME, a tool which enables mentor & mentees to connect digitally and Gamification as a learning methodology was also explored as a means of providing developmental opportunity.” (BASF, 2019) “In order to keep its employees motivated and trained, PI has launched the Percipio Platform that provides hundreds of e-Learning courses.” (PI Industries, 2021) “We achieved 100% compliance on conducting all our programs through Cornerstone OnDemand (CSOD), a software system which enables us to track learning of our employees.” (Hindalco, 2021)
Source – Coeus Age Analysis, 2022
Banking Insurance NBFC Auto Manufacturing - Discrete Manufacturing - Process
Industry Wise
Metals and Mining Oil and Gas Power and Utilities Retail CPG Pharma Hospitals Media Logistics and Supply Chain Infrastructure & Construction
High High High High Moderate Moderate Moderate Moderate Moderate Moderate High High Moderate Moderate Moderate Moderate
INSIGHTFUL YEARS
#4 End to End Service Delivery Capability Across the Value Chain to Emanate from Holistic Business Process Automation and Digital Operations in 2022
BFSI leads in enabling end to end (or integrated) service delivery capability, across the value chain. It reflects the maturity of digital transformation in the financial sector. Customers can avail quite a few services without any manual intervention, through multiple channels, and with the use of analytics and AI/ ML/ RPA engines. Best of Tech 2022
Description
Digitalized or Unified supply chain is an end to end linking of the suppliers – operations – channel – end user continuum rendering the following layers
Transactional layer – how transactions can be recorded digitally along the entire continuum making critical process data available
Intelligent layer – when data from transactional layers provide a visibility of the state of affairs, are subject to static or dynamic algorithms to predict and even optimize, and raise important alerts regarding actual or impending constraints
Decisional layer – the information layer allows for decisions that can be implemented with just a few clicks Unified supply chain is developed by connecting the transactional layer across multiple systems (that may be across multiple enterprises), providing data from internal or external sources, and making actions like planning possible Leverages Automation, Analytics, AI, ML, IoT, RPA, API, and Cloud
On the Ground
“PACE is an initiative to digitize end to end supply chain processes that include system generated sales forecasting with market consensus, manufacturing plan generation and simulation, inventory planning, production scheduling & prioritization, optimal utilization of manufacturing capacity & other resources.” (Cadilla, 2021) “Application programming interface (API) based solutions for our customers have been enhanced for exchanging manifest at detailed levels to ensure an automated and seamless supply chain, from pre-pick up till post-delivery; inclusive of collections.” (Blue Dart, 2021)" “Cloud-based platform provides real-time information on production and external demand to its supply chain.” (Hero MotoCorp, 2021) “Using advanced algorithms that allow us to improve our demand forecasting, inventory planning, distribution planning and transportation planning. We implemented a completely automated warehouse integrated with the S/4 HANA Extended Warehouse Management Systems.” (Asian Paints, 2021) “The launch of a Supply Chain Portal by the Company enables reduction in the man hours spent on tracking shipments, while ensuring that the customers get real time updates. The portal enables end to end visibility for all full truck load shipments via the Cloud and GPS.” (BASF, 2021) “GreenTrack™ platform to help consumers track the entire journey of the product from plantation, and the reverse journey of the value chain to help garment houses and brands”. (Grasim, 2021)
Source – Coeus Age Analysis, 2022
Banking Insurance NBFC Auto Manufacturing - Discrete Manufacturing - Process
Industry Wise
Metals and Mining Oil and Gas Power and Utilities Retail CPG Pharma Hospitals Media Logistics and Supply Chain Infrastructure & Construction
High High High Moderate Moderate High Moderate Moderate Moderate Moderate Moderate Moderate Moderate High Moderate Moderate
Hot Tech Trends Across 16 Industries
#5 Omni Channel Integration Shall be the Way Forward to Multi-Channels Strategy in 2022
Omni channel, beyond multi channel, is a logical step in channel management for the Banking and NBFC sectors. For many others like Auto, retail, and CPG the focus is still on multiple channels for marketing, sales, and services.
Description
Omni channel for sales and servicing is about being present across multiple channels, and provide continuity of experience (e.g. item selected on one channel will be fund in the cart on another channel). It requires delinking of underlying individual applications with individual channels, and building a common interface between applications and channels for a uniform play for the customer. It is customer-centric concept and hence the quality of customer data that can be linked with it (customer 360) shall determine the quality of their experience through ‘personalization’ in the form of ‘next best action or offer’. Customer could mean the end user or the intermediaries like retailers, and even employees Though leading BFSI companies have initiated the process, many others still need to embark upon the journey in 2022 and beyond.
On the Ground
“We have developed digital service journeys on multiple digital platforms including Web, WhatsApp, Chatbot & Voice Bot. Availability of our services on digital channels has increased significantly from 74% in FY 2019-20 to 90% in FY 2020-21.” (Aditya Birla Capital Limited, 2021) “…the Company has imagined a completely new way of conducting business and to move to providing financial products and services to its 48.6 million existing customers in a seamless manner by creating an ‘omnichannel’ framework. The omnichannel model would provide a flexibility to the customer to move between online to offline and vice versa in a frictionless manner.” (Bajaj Finance Limited, 2021) “We are focused on building a digital led omnichannel presence. Omni-channel 360-degree view of the customer comprising engagements through branch, SMS, e-mail, call centre, WhatsApp, Facebook, LinkedIn, Twitter WhatsApp and website”. (Magma Fincorp, 2021) “The Bank’s cash management business, Baroda DigiNext, provides a wide range of omni-channel digital solutions for customers for management of cash flows and liquidity.” (Bank of Baroda, 2021) “Launched an integrated omni-channel digital platform YONO, serves as a Digital Bank, an Online Market Place, and a Financial Super Store.” (SBI, 2018) “Digital 2.0 to transform customer journeys into omnichannel customer experiences.” (HDFC Bank, 2020) “Superior experience across all channels through Omni-channel platform.” (ICICI Pru, 2021)
Source – Coeus Age Analysis, 2022
Banking Insurance NBFC Auto Manufacturing - Discrete Manufacturing - Process
Industry Wise
Metals and Mining Oil and Gas Power and Utilities Retail CPG Pharma Hospitals Media Logistics and Supply Chain Infrastructure & Construction
High Moderate High Moderate Low Moderate Moderate Moderate Low Moderate Moderate Moderate Low Low Moderate Low
INSIGHTFUL YEARS
Best of Tech 2022
#6 Digitalized Supply Chain Shall Take Concrete Shape Rather Gradually Across Industries in 2022
Most of the sectors are high on operationalizing a strong digital supply chain, mostly from the perspective of sourcing right at the right time and at the right price. A full-fledged unification with other systems is what will get initiated in 2022.
Description
End to End Service Delivery is digitalizing the entire chain of activities that makes the service. Applicable for both small or big services. End to End Service Delivery involves digital enablement of the following - service request inputs, validation, documents upload, automated work flows, decision engines, auto generation, and service output. It may be completely on a self service mode or may be monitored by someone for critical decisions, but every bit is digitalized. The End to End Service Delivery may be used for multiple stakeholders – Customers, Employees, Suppliers, Dealers, Retailers, Regulators etc. The focus is shifting from small service to large service pieces. Multiple technologies across multiple systems enable an End to End Service Delivery stack (or a service platform)
On the Ground
“The core VF business related processes are undergoing technology-led transformation to launch a scalable digital platform. Using service integrations to validate the person (identity / KYC, contact detail validation etc.), financial (financial stat. ement analysis and validation etc.), and transactional (bank accounts, ACH mandate, wallets etc.) aspects of the digitization, the platform aims to deliver a high-quality experience irrespective of whether someone is a long-time customer or a first-time borrower.” (Cholamandalam Investment and Finance Company, 2021). “Bank has launched an IT based solution for loan management as PNB LenS- the Lending Solution. End to end digital lending has also been enabled through pre-approved personal loans by using data analytics.” (PNB, 2021) “Work with startups to develop a cloud-based platform for handling end to end transport desk outsourcing operations for the PTS business.” (Mahindra Logistics, 2021) “On the Microbanking underwriting front, our proclivity to enhanced automation has enabled the implementation of an endto-end digital platform integrated with the bureaus and a business rule engine for automated credit decisioning and a straight through process.” Ujjivan Small Finance Bank Ltd., 2019) One UltraTech App: This application drives unparalleled convenience and speed of daily transactions to our dealers/ retailers network across the country. Our dealers can book the orders anytime, anywhere with ease, assisted with features such as smart orders (based on previous trends) and one-click booking through favourite orders. (UltraTech, 2021)
Source – Coeus Age Analysis, 2022
Banking Insurance NBFC Auto Manufacturing - Discrete Manufacturing - Process
Industry Wise
Metals and Mining Oil and Gas Power and Utilities Retail CPG Pharma Hospitals Media Logistics and Supply Chain Infrastructure & Construction
Low Low Low High Moderate High High High Moderate Moderate High Moderate Low Low High Low
Hot Tech Trends Across 16 Industries
#7 Hyper Local Shall be a Reality as a Direct Pandemic Effect in 2022
CPG and organized retail chains are working out ways to short circuit the path to local retailers and consumers.
Description
Hyper Local marketing is demand generation, demand capture, and demand delivery in a small locality The supplies are locally procured, the replenishment is done with a super efficient back end distribution engine Many new age consumer models like cab hailing or food delivery is based upon hyper local enabled platforms COVID has given fillip to the model where consumer goods are being bought online for home delivery While incumbent CPG companies are making their existing supply chains more sharper at the last mile, there are few who are trying very innovative ways to deal with the situation
On the Ground
“Dabur tied up with MapmyIndia for a dynamic visualization of existing coverage across urban and rural geographies. Dabur also rolled out Suggested Order module – an AI / ML based algorithm that helps salesman drive the right assortment in store. The initiative was further supported by rolling out of CRS (Continuous Replenishment System) at stockist point – that enabled automation of order flow – for maintenance of right inventory and range availability at stockist point to support assortment drive.” (Dabur, 2021) “Predictive analytics enables our urban salespeople to sell the right assortment in a store. At the same time, GPS-enabled handheld terminals help us track our distribution network and uncover efficiency gaps. Analytics is also helping us improve distributor replenishment by minimising sales losses due to stock-outs.” (Godrej Industries, 2021) “Furthering our journey to create a digital customer ecosystem of connected stores, we have piloted ‘Samadhan’ our direct-to-trade order-fulfilment platform in Chennai. ‘Samadhan’ is fully integrated with our digital order capturing platform and aims to deliver speedier and reliable service to the retail outlets through warehouse automation and optimised last mile logistics.“ (HUL, 2021) “ITC has developed & implemented digital solutions for online ordering & engagement with the retailers, providing a personalised & omni-channel experience for the trade partners. Direct-to-home capability has been created in the form of ITC e-store, providing rich brand experience & online purchase options to consumers.” (ITC.2021) “Your Company expects the digitally enabled hyper-local model to be the next wave of innovation in fashion retail, which it is well-placed to capitalize on, with its strong brands, loyal customer base and a nation-wide store network.” (Aditya Birla Fashion Retail, 2020)
Source – Coeus Age Analysis, 2022
Banking Insurance NBFC Auto Manufacturing - Discrete Manufacturing - Process
Industry Wise
Metals and Mining Oil and Gas Power and Utilities Retail CPG Pharma Hospitals Media Logistics and Supply Chain Infrastructure & Construction
Low Low Low Low Low Low Low Low Low Moderate High Low Low Low Low Low
INSIGHTFUL YEARS
Best of Tech 2022
#8 Business Process Automation and Analytics Shall Broad Base Across Business Domains in All Sectors in 2022
Enterprises across sectors are broad-basing their process automation drive and making them intelligent by adding analytics capability. The drive is extending into lesser automated domains such as auditing, legal and compliance, EHS etc.
Description
Business process automation is a never ending agenda. It follows a hierarchy of – Core, More, In-between and Beyond
Core enterprise process like ERP, CRM, SCM
More and more aspects of organizational functioning getting automation with extensions or best of breed applications around the core
In-between micro process automation for integration
Moving beyond with mobile extensions or apps
Embedding analytics, AI/ ML for process enhancement (like Voice and Chat bots, credit or risk scores, or pre-qualified offers), or RPA for repetitive tasks like auto-checks, or linking APIs for providing data inputs Aggregating data for creating repositories, compliance, process performance measurement and enabling integrated dashboards as single source of truth The drive shall render many domains specific set of processes as E2E Service Delivery platform when a whole is automated in a meaningful way
On the Ground
“A Digital Web Application & Mobile App (M-Touch) has been developed to capture records of all field visits made by Branch Officials for recovery in NPA accounts.” (PNB, 2021) “Tata Capital is also working on the Finance Data project which will automate all regulatory reporting, Finance Management Information System, Expected Credit Loss computation for Ind AS filing.” (Tata Capital, 2021) “Integrating wealth business platform with Registrar and Transfer Agents (RTAs) and availability of current value of mutual fund investments on mobile and net banking.” (Bank of Baroda, 2021) “Use of AI-based OCR for instant document verification” (ICICIPru, 2021) “Digital intervention through the enterprise system SAP and Product Lifecycle Management (PLM) to ensure delivery of right product to right customer.” (Eicher Motors, 2021) “Mahindra's first digital employee named IRONA was launched using RPA to simulate and automate treasury's mutual fund investment operations.” (M&M, 2021) “Company has implemented SAP HANA during the first quarter and the system has been stabilised and running well.” (Bajaj Consumer, 2021) “The Company uses SAP-ERP to process financial transactions and maintain its books of accounts.” (Apollo Tyres, 2021) “We are focusing on the consolidation of various applications, integration of systems and digitalizing the manual processes.” (Hindalco, 2021) “HPCL launched ‘HP Gas Vitran’ App for the LPG delivery staff for effectively planning and managing LPG refill request from consumers” (HPCL, 2021)
Source – Coeus Age Analysis, 2022
Banking Insurance NBFC Auto Manufacturing - Discrete Manufacturing - Process
Industry Wise
Metals and Mining Oil and Gas Power and Utilities Retail CPG Pharma Hospitals Media Logistics and Supply Chain Infrastructure & Construction
High High High High High High High High High High High High High High High High
Hot Tech Trends Across 16 Industries
#9 Digital Operations Shall Gain Traction, Gradually and Organically, Across Industries in 2022
Industry 4.0 is gradually gaining ground, piece by piece. That shall continue through 2022 and 2023.
Description
Industry 4.0, the most contemporary phenomenon in industrial operations, is defined as the use of digital to collect data using IoT/ sensors, leverage data analytics/ AI/ ML technologies, manage assets and resources, and converge with the business systems for decision making Industry 4.0 is a journey that evolves over time with the following being accomplished across the length and breadth of the manufacturing and supply chain footprint:
Industrial process automation, MES
IoT/ Sensors for operational data collection
Analytics, AI, ML led discovery and autonomy
Digital twins for key assets
Integration with supply chain components
Convergence with the business system
Drives efficiency, assets utilization, services revenue generation, ecological sustenance, and employee health and safety Industry 4.0 in Indian enterprises is evolving organically, piece by piece, location by location
On the Ground
“We are leveraging digital tools such as analytics at the Global Parts Centre (GPC), Utility Cockpit in the Chittoor plant, MES, Automation etc.” (Hero MotoCorp, 2021) “Our facilities have accelerated the incorporation of technologies towards adopting the Industry 4.0 framework. This includes using cutting edge technologies, digital interventions from machines with sensors and edge analytics to sort relevant data.” (M&M, 2021) “IT platforms based on Industry 4.0 principles have been implemented in the two new paint facilities ( Real-time integration from shop floor operations into ERP and manufacturing execution systems). IoT and other sensor-based technologies have been extensively leveraged in these plants.” (Asian Paints, 2021) “As a start, your Company is developing digital-twin solutions at its Vilayat Unit for Chiller MSFE and Fibre Dryer processes.” (Grasim, 2021) “Embarked on implementation of the Golden Batch Project for one of its plants. This platform integrates with fully automated DCS plants and provides deep data driven insights into manufacturing processes. This year it has also been extended to three other plants.” (PI Industries, 2021) “Develop upcoming Dahej manufacturing plant at Gujarat as a Digital Smart Factory.” (Tata Chem, 2021) “Under Industry 4.0, and the current trend of automation and data exchange, we undertook two key developments which are cloud adoption and convergence of IT and Operation Technology.” (Hindalco, 2021) “it plans to increase distribution automation from 40% to 100% in five years while deploying advanced sensors and adopting artificial intelligence and machine learning.” (Adani Transmission, 2021) “During the reporting period the Group has partnered with IBM to implementing the IBM Watson platform. This IOT based solution helps the HVAC systems adjust to changes in external climatic conditions and occupancy levels of the store whilst meeting the desired temperatures.” (Future Lifestyle Fashion Limited, 2021)
Source – Coeus Age Analysis, 2022
Banking Insurance NBFC Auto Manufacturing - Discrete Manufacturing - Process
Industry Wise
Metals and Mining Oil and Gas Power and Utilities Retail CPG Pharma Hospitals Media Logistics and Supply Chain Infrastructure & Construction
Low Moderate Low High High High High High High High High High High Low High Moderate
INSIGHTFUL YEARS
#10 Customer 360 Shall Gain Ground in Banking, NBFC, and Auto Industries in 2022
Though few industries shall take up the initiatives, many more are awakening to the need. Best of Tech 2022
Description
Customer 360 is about building a customer profile using multiple set of data, available both internally and externally Internal sources include customer profile, financial spend, and operational behaviour data External sources include social media behaviour, online actions, and third party sources like Aadhaar, PAN, IT (based on regulations) Customer 360 degree is a journey that evolves through technology’s ability to match external data points correctly with the customer cases available in a company’s database Customer 360 leverages multiple internal and external systems, and enterprise data warehouses and lakes. Customer 360 can be leveraged by other initiatives such as ‘hyper personalization’ across omni channels, next best offer, and targeted marketing; may help build digital customer personas
On the Ground
“Project ePIC (e-Platform for Indian Oil Customers) was launched by the Corporation, which envisages creating a 360-degree view of customers, integration, and standardization of marketing efforts across product lines, better handling of customer service requests including grievances and presenting a unified customer experience across various access devices such as mobile phones, tablets, and desktops.” (Indian Oil Corporation Limited, 2018) “Company has put in place a Customer 360 program, where a data warehouse has been set up for all customer transactions and interaction data for the entire base of over 30 million customers across brands.” (Aditya Birla Retail Limited (2021) “Omni-channel 360-degree view of the customer comprising engagements through branch, SMS, e-mail, call center, WhatsApp, Facebook, LinkedIn, Twitter WhatsApp and website." (Magma Fincorp, 2021) “Analytics on the Customer Data Platform (CDP) deployed helped in precision digital marketing and aided the smooth onboarding of customers.” (Asian Paints, 2021)
Source – Coeus Age Analysis, 2022
Banking Insurance NBFC Auto Manufacturing - Discrete Manufacturing - Process
Industry Wise
Metals and Mining Oil and Gas Power and Utilities Retail CPG Pharma Hospitals Media Logistics and Supply Chain Infrastructure & Construction
High Moderate High High Low Moderate Low Moderate Low Moderate Moderate Low Moderate Low Moderate Low
Hot Tech Trends Across 16 Industries
#11 Enterprise Data Management Drive Shall Be a Trend in BFSI, Auto, and CPG Sectors in 2022
The data management drive shall gain momentum in most of the industries, while few still to wake up to the need
Description
Enterprises have data scattered all around – transactional and individual systems, excel sheets, emails, conversations etc. This causes problems in building enterprise wide dashboards as it is difficult to obtain the data and also one may not even know that some data exists Data play requires a holistic approach to collect, clean, collate, structure, and enable free flow before it can be processed meaningfully The task becomes critical given multiple variety of data, coming in high volume and with high speed Enterprises need to invest in technologies such as Data Lake, Data Marts, Data Warehouse, Automated Data Engineering, and Data Storage and Back up Cloud models are becoming prominent for the ease, elasticity, agility, and cost effectiveness they provide
On the Ground
“With a scalable cloud-based Enterprise Data Warehouse (EDW) in place, BFL has now started to move raw data through ‘change data capture’ (CDC) technology from multiple online transaction processing system to a data lake. Run large workloads using Apache Spark as the compute layer. -- BFL’s entire data ecosystem and analytic workloads are now hosted on the Microsoft Azure platform.” (Bajaj Finance Limited, 2021) “DIGITAL DATA CENTER - A 360-degree view and single source of data for key metrics by building the Digital Data Centre - a. Building a data lake to capture and store all source system and non-system data; b. Develop data warehouses to manage the business specific requirements; c. Designing dashboards that show key trends and insights; d. Near real-time monitoring of key metrics; e. Enabling alerts and triggers on key metrics to enhance monitoring and reviewing (Cholamandalam, 2020). Significant progress has been made on the enterprise data repository built with the setup of a cloud-based environment to handle vast volumes of data from transactional systems as well as non-system sources.” (Cholamandalam, 2021) “Tata Capital has invested into cutting edge technologies to set up the Data Lake which acts as a backbone to provide single source of data across all reporting.” (Tata Capital, 2021) “Bank has decided to implement Enterprise Data Lake using the Hadoop framework to meet all its information and analytics needs, be it providing data for ad hoc reports, MIS, regulatory reporting or advanced analytics for delivering hyper personalization, or models for driving retention.” (Bandhan Bank, 2021) “• Google Big Query, Hadoop, Python : Using best and latest technologies available for data understanding/ processing • Data lake solution : Use of AI and ML to analyse structured and unstructured data.” (ICICIPru, 2021) “Using billions of transactions of sales billing and shopper transactions data, your Company has built a strong Data Lake that marries information across the entire journey of demand generation, capture and fulfilment - leading to sharper, timelier and more precise actionable.” (HUL, 2021) “Cloud technology is also being used to stream data from its production plants to use advanced analytics to drive greater machine efficiency.” (Apollo Tyres, 2021)
Source – Coeus Age Analysis, 2022
Banking Insurance NBFC Auto Manufacturing - Discrete Manufacturing - Process
Industry Wise
Metals and Mining Oil and Gas Power and Utilities Retail CPG Pharma Hospitals Media Logistics and Supply Chain Infrastructure & Construction
High High High Moderate Low Moderate Moderate High Moderate Moderate High Moderate Moderate Low Moderate Moderate
INSIGHTFUL YEARS
Best of Tech 2022
#12 Enterprise Analytics, AI, ML, IoT, and RPA Platform Will See Adoption Across Sectors Though by Few Enterprises in 2022
The second wave of digital will become a holistic enterprise wide capability including people, process, and tech platforms in 2022 in many industries. This shall make the process of leveraging emerging technologies broad based, efficient, and effective.
Description
Emerging technologies like Big Data, Analytics, AI, ML, RPA, IoT are gaining attention by enterprise tech leaders and developers alike Though many use cases are being deployed, yet most of the actions on ground are in the form of ‘point solutions’ to solve local problems The tech know how and the tools are being identified and learnt with each individual use case In order to support a broader and deeper use of these emerging technologies, a centralized expertise in the form of people, processes, and platforms is required Many enterprises are spending on creating CoEs and on new age platform tie ups spanning long terms
On the Ground
“With over 40 million interactions and our continuous investment in NLP Bots infrastructure, BFL is now transitioning to Voice Bots channels — and has already deployed more than 25 skills on Alexa and Google Assistant.” (Bajaj Finance Limited, 2021) “Magma implemented Scienaptic (a leading AI-powered credit decision platform company) enabled an artificial intelligence (AI) /machine learning (ML) model for underwriting, collections and customer analytics. -- Implemented its proprietary digital under-writing algorithmic model called M-score, designed by deploying over 1 Mn data points spanning across 40,000+ customers across 71 cities and towns.” (Magma Fincorp, 2021) “Big Data and analytics models across several business areas and built a range of AI-based capabilities.” (HDFC Life Insurance, 2021) “Implemented Robotic Process Automation (RPA) platform for automating processes like invoice processing, gate entry and others.” (Hero MotoCorp, 2021) “Introduced a robust automated data analytics system across our plants (MES and DCS).” (Asian Pains Limited, 2021) “We have done successful pilots leveraging digital and Artificial Intelligence (AI) across manufacturing value chain of cement plant, thermal power plant, safety, mines etc.” (Ultratech, 2021) “The AI-powered Cardiovascular Disease Risk Score API is an intelligent platform that can predict cardiovascular disease risk score in the Indian population. Over 200,000 people have been screened using the AI-driven API on Microsoft Azure.” (Apollo, 2021) “SRL initiated the second phase of AI solution development engagement with Microsoft.” (Fortis, 2021) “Big Data setup has helped in getting advanced analytics on various segments of Blue Dart's operational process, Customer insights, and trends on volume/ revenue from different geographies.” (Blue Dart, 2021)
Source – Coeus Age Analysis, 2022
Banking Insurance NBFC Auto Manufacturing - Discrete Manufacturing - Process
Industry Wise
Metals and Mining Oil and Gas Power and Utilities Retail CPG Pharma Hospitals Media Logistics and Supply Chain Infrastructure & Construction
High High High High Moderate Moderate Moderate High Moderate Moderate High Moderate Moderate Moderate Moderate Moderate
Hot Tech Trends Across 16 Industries
#13 IT Operations, Management, and Security Will See Point Solution Adoption in Most of the Sectors in 2022
While some industries like BFSI, Auto, and CPG will invest holistically in 2022, others will still take a point solutions approach
Description
IT Operations and Management, IT Service Help Desk, Applications Performance Monitoring, Cyber Security and Cloud Management has a direct bearing on customer experience, both from availability and quality of service perspectives It entails use of IT processes automation to conduct daily routines and issue alerts, unified dashboards for continuous monitoring, and self managing and healing capabilities through the use of AI, ML Cyber Security is moving from covering the networks, data, data centers, applications, and end points Security Operations Center support continuous monitoring of threats and assessing effectiveness of the posture Managed Services bring in the right skills and processes that many individual enterprises may not have
On the Ground
“Implementation of Cloud Migration: Hybrid cloud strategy has been implemented for scalability in applications and systems, Today, over 87% applications are on Public and Private Cloud.” (Aditya Birla Capital, 2021) “In its endeavor towards continual improvement in the IT operations and Service Management area, IT has adopted BMC- Helix service management tool through its One Tata Operating Network platform and is estimated to Go Live by June 2020.” (Tata Capital, 2020) “Help Desk and AI bot created to provide continuous IT support.” (ICICI Lombard, 2021) “Launched e-DRIVE, a digital platform developed in-house, to transition tech-support activities traditionally involving high physical engagement to virtual medium using 3D viewer software and Microsoft tools.” (Tata Steel, 2021) “Automated asset management process to achieve 95% asset accuracy with digitalised asset registered by integrating with Security Operation Centre (SOC).” (Tata Power, 2021) “We established 24X7 Security Operations Centre (SOC). Our services are now protected with latest cyber security tools like Advanced Threat Protection, Security Intelligence Tools like SIMS, Data Leakage Prevention and Software Defined Network.” (Fortis, 2021) “Internally we utilise various IT tools such as APMS, SAP and Mercury amongst others to help us achieve operational and business excellence resulting into tangible benefits.” (Adani Ports, 2021)
Source – Coeus Age Analysis, 2022
Banking Insurance NBFC Auto Manufacturing - Discrete Manufacturing - Process
Industry Wise
Metals and Mining Oil and Gas Power and Utilities Retail CPG Pharma Hospitals Media Logistics and Supply Chain Infrastructure & Construction
High High High High Low Moderate Moderate Moderate Moderate Moderate High Moderate Moderate Moderate Moderate Low
INSIGHTFUL YEARS
Best of Tech 2022
#14 Modern and Cloud Native Infrastructure Adoption Will Remain Niche, Cloud Enabled Infrastructure Shall Gain Ground Across Sectors in 2022
While BFSI industries will invest on creating truly cloud native infrastructure, most of the other industries will be content with cloud based or cloud enabled infrastructure in 2022
Description
It is important to appreciate the difference between being cloud native and being cloud based. Cloud native architecture is one that is designed specifically for applications planning to be deployed in the cloud, and microservices are an essential part of it. Cloud native is essentially about containerbased environments. It is more about how applications are created and deployed, rathe than where.
Cloud based architecture on the other hand is one that leverages cloud for the existing applications landscape or infrastructure needs. The cloud native journey is in early stages On the other hand, the journey to cloud-based architecture for applications, infrastructure, and development platforms is spreading from few to more industries Yet, the need is rather limited to ‘new developments’, ‘fringe applications’, or ‘augmenting existing infrastructure’.
On the Ground
“The Company is in the process of migrating its Application Programme Interface (API) stack to a more robust technology infrastructure to ensure minimal latency. This will integrate consumer facing interfaces like web portals, mobility applications and BOTs to a micro services architecture hosted on a platform as a service (PaaS) infrastructure. Also, the underlying database is being migrated from relational database schema to NoSQL database for scale and high user loads.” (Bajaj Finance Limited, 2021) “The maturity of IT infrastructure has been improved through the combination of private and public cloud and use of co-location services.” (Mahindra and Mahindra Finance Limited, 2021) “The Paperboards and Specialty Papers Division has also set up a state-of-the-art Next Generation Smart and Hyperscalar Digital and Data Infrastructure at its plants, to enable real time operations control, process optimisation and quality improvements.” (ITC, 2021) “OTON (One Tata One Network) program as a part of its migration to a new cloud-based portal to be completed in CY 2021.” (Tata Chem, 2021) “Upgraded existing CDOS to make it more versatile, fast, and cloud-ready for future requirements.” (Cummins, 2021) “The Company moved ~85% of its servers to cloud over the last 3 years in one of the biggest cloud migration programmes in Asia.” (Tata Steel, 2021) “The new journey that started with the adoption of cloud-for business systems will be expanded to manufacturing and operating technology data in a scalable manner.” (Cipla, 2021) “Your Company has now moved well ahead with seamless integration of digital and linear media technologies, which no longer constitute separate domains. During the year under review, your Company moved to a new media architecture with hybrid storage attributes enabled with cloud and edge playouts and deliveries.” (Zee Entertainment, 2021)
Source – Coeus Age Analysis, 2022
Banking Insurance NBFC Auto Manufacturing - Discrete Manufacturing - Process
Industry Wise
Metals and Mining Oil and Gas Power and Utilities Retail CPG Pharma Hospitals Media Logistics and Supply Chain Infrastructure & Construction
High High High Moderate Low Moderate Moderate Moderate Moderate Moderate Moderate Moderate Moderate Moderate Moderate Low
Hot Tech Trends Across 16 Industries
#15 Open Market Applications Architecture Shall Gain Further Traction in BFSI Sector in 2022
BFSI industries shall continue investing in creating new application architecture that is open and innovation centric.
Description
Serving a customer digitally requires not just an enterprise but the entire ecosystem consisting of partners, distributors, and start ups and developers to be in synch. Even the customer must be on boarded on the digital platform for a seamless service delivery. This requires an applications architecture that allows for their easy integration with the platform. While BFSI, and other digital driven enterprises like Blue Dart, have taken the first steps towards embracing an open applications architecture, the journey is yet to evolve. Over time, we will witness them undergoing massive transformation in their applications architecture based upon microservices API Gateway is an important service that makes it easy for developers to create and publish secure APIs. The APIs will act as a front door for applications to access data and business logic. It also takes care of authorization and access control. Developers use API Gateway to invoke different serverless functions for different API calls.
On the Ground
“Today, we have a robust digital ecosystem across our Protecting, Investing and Financing businesses. Our digitalecosystem partners include leading Payment Platforms, Travel and Leisure Platforms, E-Commerce Platforms and Financial Services Aggregators.” (Aditya Birla Capital Limited, 2021) “Bank has been at the forefront of digital transformation, investing in multiple areas keeping in view the long-term perspective of making the Bank future-ready: 1. Modernisation of architecture and APIs through micro-services, 2. Refreshing of the application stack.” (Bandhan Bank, 2021) “Company has initiated the digital transformation journey and adopted open architecture on Public Cloud for its application landscape.” (Bajaj Allianze, 2021) “Launched API 2.0 platform to partner born-in-cloud digital companies to distribute insurance products. VPN and private cloud activated for customer data security.” (ICICI Lombard, 2021) “Application programming interface (API) based solutions for our customers have been enhanced for exchanging manifest at detailed levels to ensure an automated and seamless supply chain, from pre-pick up till post-delivery; inclusive of collections.” (Blue Dart, 2021) “ZEE5 has partnerships with Multiple players in the digital eco-system like telecom operators, e-commerce companies, travel and hospitality players, and e-wallets, which enable ease of access and payment for the consumers.” (Zee Entertainment, 2021)
Source – Coeus Age Analysis, 2022
Banking Insurance NBFC Auto Manufacturing - Discrete Manufacturing - Process
Industry Wise
Metals and Mining Oil and Gas Power and Utilities Retail CPG Pharma Hospitals Media Logistics and Supply Chain Infrastructure & Construction
High High High Moderate Low Low Low Low Low Low Low Low Low Moderate Moderate Low
INSIGHTFUL YEARS
Best of Tech 2022
#16 Agile Development and Automated Testing and QA Will Rather Remain Restricted to a Few Industries in 2022
Few industries are working on agile and automated development processes, but most are still not warm to the idea.
Description
Agile Methodology involves continuous iteration of development and testing in the SDLC process This software development method emphasizes on iterative, incremental, and evolutionary development DevOps is a culture that promotes collaboration between Development and Operations Team This allows deploying code to production faster and in an automated way Agile and DevOps are gaining ground in BFSI industries, yet to gain momentum in other industries
On the Ground
“• Transition and planning management • DevOps – Automation of all possible IT services • Test Automation capabilities • End-to-end Managed Services • Application Modernization • Launched Mobile Ticketing • Mobile-based inspection app called ‘SQAD’ implemented • Fully automated product costing system • App Customer Connect developed.” (L&T, 2021) “Company has invested in tools, technologies and practices for robust and expeditious ‘Development-to-Operations’ (DevOps) implementation to enable delivery of applications and services at a high velocity. Significantly strengthened its requirement discovery process; and also introduced visual designs, TechOps KPIs and advanced QA automation.” (Bajaj Finance Limited, 2021) “Created a detailed and dynamic digitization plan with adoption of Agile delivery which is being executed in a systematic manner to provide new user customer experience.” (DCB, 2021)
Source – Coeus Age Analysis, 2022
Banking Insurance NBFC Auto Manufacturing - Discrete Manufacturing - Process
Industry Wise
Metals and Mining Oil and Gas Power and Utilities Retail CPG Pharma Hospitals Media Logistics and Supply Chain Infrastructure & Construction
High Moderate High Moderate Low Low Low Low Low Low Moderate Low Low Low Low Low
Hot Tech Trends Across 16 Industries
Digital Mine@Vedanta
Vedanta is leveraging digital to transform itself into a Digital Mine. Smart Ore gives complete visibility into the end to end mining operations; Disha processes the vast amount of operational, financial and customer data for effective decision making; EVOLVE, a non ferrous metal ecommerce platform, enables it to discover the right price live; and its integration of marketing with back end procurement allows for a unified supply chain.
“Zinc International has worked in close collaboration with specialist partners GE & MineRP to create a fully integrated technological solution. This includes equipping the development phase of the mine, rather than retrofitting the systems once it is operational. The digital concept is known as ‘SMART Ore’. It is an end-to-end solution, producing continuous, live data on the mine’s production status, quality of ore and quality of concentrate and mine conditions, enabling instant decision making. It will assist the team to monitor and manage the mining contractor and adjust the blending strategy based on real-time grade reconciliation. This ensures a constant feed grade to the plant, making the process more efficient and reducing waste. In our pursuit of zero harm, the plant will also boast of a stateof-the-art Collision Awareness System.” “Project Disha, which leverages the wealth of data that the organisation has for decision-making, has started showing its results, owing to advanced analytics capabilities.”
“Scaling Growth through Smart Mining We augmented the digital touchpoints in our mines and automated additional systems and processes during the year. With the launch of the first-of-its- kind e-commerce platform for non-ferrous metals called ‘EVOLVE’, we were effectively able to reach out to MSME customers with live London Metal Exchange benchmarked prices, and as low as 1 ton delivery for zinc and lead metals with a unique offering of live pricing.”
“We have augmented our business model by integrating our procurement and marketing functions. This will result in better economies of scale, lower process redundancies, and take us closer to our customers. Today, Vedanta has a single window for the selling of key commodities, enabled by digital platforms. It will also increase cross-selling opportunities and add on to market growth and new product development.”
The biggest impact on our operations will be through ongoing digital transformation towards smart, connected intelligent mines which will be safer and more productive. Key features of our future mines will be autonomous drilling, autonomous haulage, remote controlled operations and real-time asset tracking and mine monitoring. I am proud to mention we already have a prototype of such digital mine in Sindesar Khurd and we expect 80% of our entire fleet to be autonomous in the next 3 years.
Knowggets = Knowledge Nuggets! “The Smart Edge An early adopter of new technologies, Sindesar Khurd Mine (SKM) has expanded its digital footprint further to introduce a new digital way of working with the vision to increase its Overall Equipment Effectiveness by 20% during the year as part of its digitalization program – Drishti. The mine has been equipped with an optical fibre network, which was extended to a Wi-Fi enabled network for use by various utilities. This high bandwidth Wi-Fi network supports a data transfer rate of 10 GBPS. SKM has also recently commissioned an Integrated Control Room for mine and beneficiation plant operations from a single room.”
INSIGHTFUL YEARS
Best of Tech 2022
On One Page
When all the 16 tech areas are mapped for 16 industries, this is how the overall picture looks like. It clearly highlights the level of focus on digital tech priorities by industry and by tech area. We also attempted at converting it into a quantitative indicator by assigning a score to each cell by its color. The scores (Tech Evolution) are shown on the page on Digital Transformation Index.
Banking Insurance NBFC Auto Manufacturing - Discrete Manufacturing - Process Metals and Mining Oil and Gas
New Digital Business Model Moderate Moderate Moderate High Moderate Moderate Moderate Low
Customer Life Cycle Management High Moderate High High Low Moderate Moderate Low Employee Life Cycle/ Learning Ecosystem High High High High Moderate Moderate Moderate Moderate
End to End Service Delivery Capability High High High Moderate Moderate High Moderate Moderate Omni Channel High Moderate High Moderate Low Moderate Moderate Moderate
Digitalized Supply Chain Low Low Low High Moderate High High High Hyper Local Low Low Low Low Low Low Low Low Business Process Automation High High High High High High High High Digital Operations/ Industry 4.0 Low Moderate Low High High High High High Customer 360 High Moderate High High Low Moderate Low Moderate Enterprise Data Management High High High Moderate Low Moderate Moderate High Enterprise Analytics, AI, ML, IoT, and RPA Platform High High High High Moderate Moderate Moderate High IT Operations, Management, and Security High High High High Low Moderate Moderate Moderate
Modern and Cloud Native Infrastructure High High High Moderate Low Moderate Moderate Moderate
Open Market Applications Architecture High High High Moderate Low Low Low Low
Agile Development and Automated Testing and QA High Moderate High Moderate Low Low Low Low
Hot Tech Trends Across 16 Industries
Power and Utlites Retail CPG Pharma Hospitals Media Logistcs and Supply Chain Infrastructure & Constructon
New Digital Business Model Moderate Moderate Moderate Moderate Moderate Moderate Low Low
Customer Life Cycle Management Low Moderate Moderate Low Moderate Low Moderate Low
Employee Life Cycle/ Learning Ecosystem Moderate Moderate High High Moderate Moderate Moderate Moderate
End to End Service Delivery Capability Moderate Moderate Moderate Moderate Moderate High Moderate Moderate
Omni Channel Low Moderate Moderate Moderate Low
Digitalized Supply Chain Moderate Moderate High Moderate Low Hyper Local Low Moderate High Business Process Automation High Digital Operations/ Industry 4.0 High High
High High
High Low High
High Low High
High Low Moderate Low
Low Low High
Low High Low High Low Low High
High Moderate
Customer 360 Low Moderate Moderate Low Moderate Low Moderate Low
Enterprise Data Management Moderate Moderate High Moderate Moderate Low Moderate Moderate
Enterprise Analytics, AI, ML, IoT, and RPA Platform Moderate Moderate High Moderate Moderate Moderate Moderate Moderate IT Operations, Management, and Security Moderate Moderate High Moderate Moderate Moderate Moderate Low
Modern and Cloud Native Infrastructure Moderate Moderate Moderate Moderate Moderate Moderate Moderate Low Open Market Applications Architecture Low Low Low Low Low Moderate Moderate Low Agile Development and Automated Testing and QA Low Low Moderate Low Low Low Low Low
INSIGHTFUL YEARS
Best of Tech 2022
Industry 4.0@Tata Steel
Industry 4.0 is being embraced by industrial firms, step by step, in an organic manner. Today there are very few enterprises who have a clearly defined blue print and on the ground traction of that blue print. Tata Steel is one such company that has achieved the laurels of being recognized as WEF’s 4th industrial Revolution Lighthouse for leading in embracing Industry 4.0 paradigm. It has three such manufacturing sites – Jamsedhpur, Kalinganagar, and Ijmuiden.
“Further, the Company is making steady progress in using Industry 4.0 techniques in the following areas:
• Plant Operations: Digital Twins to improve process efficiency by multivariate optimisation, predictive modelling for defect detection, through-process optimisation to maximise throughput and improve yield, prescriptive modelling to reduce specific consumption of materials.
“Fostering culture of innovation and preparing the workforce for Industry 4.0
Tata Steel has been on a multi-year digitally enabled business transformation journey intending to be the leader in steel making. In the process, we have made significant investments to develop capability as well as infrastructure. The financial year 2020-21 has been a testimony to our efforts in these areas with the recognition of Tata Steel Jamshedpur steel plant as World Economic Forum’s Advanced 4th Industrial Revolution Lighthouse for displaying leadership in applying advanced technologies to drive financial and operational impact. With this new milestone, Tata Steel is one of the few enterprises with three manufacturing sites in the Global Lighthouse network, with Tata Steel Kalinganagar Plant (India) and IJmuiden (the Netherlands) being the other two sites.” • Maintenance: Smart plant maintenance through Maintenance Technology Roadmap and
Smart Asset Management System.
• Energy: Energy Management System to improve energy efficiency, power sourcing optimisation to reduce cost.
• Procurement & Supply Chain: Agile & insights based buying through price prediction & e-auctioning, digital negotiation factory, prescriptive analytics to reduce total cost to serve, advanced analytics based network optimisation for iron ore (VISTAR), unified platform for Integrated Shipping and Port Operations (ISOP), text analytics to improve export documentation cycle time.
• Marketing & Sales: Digitally enabled product sales and customer engagement across
B2C, B2SME and B2B segments through platforms like Aashiyana, DigEca and Compass, analytics powered retail sales acceleration (PARAS and ASCEND), improvement in value realisation from co-products through prescriptive and predictive analytics (AMRIT), online bidding platform for ETO inventory.
• Finance: Digital readiness for statutory changes, optimisation of cost and interests through online visibility and system-based controls.”
Knowggets = Knowledge Nuggets!
