- February 22, 2019
- News from the web
Digital transformation in the chemicals industry | Interview: Frank Jenner @Ernst&Young
FW: How would you describe the way digital transformation is reshaping operations across the chemicals industry? What opportunities do new technologies offer companies in this space?
Jenner: I think we need to discuss the term ‘digital transformation’ first. In terms of digitalising operations to gain further efficiency and productivity, these efforts have been largely focused on production, plant maintenance, supply chain and the like within the chemical industry. Digitalisation is taking place in two-thirds of process re-engineering activities these days. But a digital transformation will take place across the entire company, and that is something different – as in, bringing in new or adapted business models for modified or completely new revenue streams via platforms and ecosystems.
FW: What are the benefits to chemicals players which actively pursue a digital transformation process? Conversely, what are the biggest risks along the way?
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