Skip to main content Skip to footer

AI & Blockchain: Chemical industry insights and actions

June 05, 2019


In brief

Change is coming. Again.

AI’s value is a given. What’s stopping you from taking advantage?

AI is already proving its worth as an increasingly fundamental part of day-to-day living. Industry will soon be similarly affected.

Improve targeting

AI-based customer-specific forecasting and demand sensing support highly targeted, proactive sales—even shipping goods before customers place orders.

Boost sales

Data-driven R&D reduces price leakage through superior product quality and faster innovation cycles.

Deepen insights

A much richer understanding of customers helps identify new applications/markets for products.

Raise throughput

Advanced analytics offer greater right-first-time production, optimized change-overs and smart maintenance to reduce unplanned downtime.

Lower churn

24/7 AI-powered customer service reduces churn rates, with higher levels of data-driven service quality.

Resolve customer problems

Virtual technical sales agents support customers, resolving queries, answering questions and informing them of new offerings.

Blockchain records transactions between parties in a secure and tamper-evident way, thus creating a single source of trusted data.

Supply chain visibility

A better view of demand and consumption patterns could enable real-time optimized demand planning and production scheduling, virtually eliminating overstocks, rush orders and schedule breakers.

Product innovation

A greater understanding of how customers use products supports customer-centric innovation and individually tailored products and services.

New revenue models

New insights across the value chain will support value-based or performance-based revenue models such as chemical leasing.

Data integrity

Tamper-evident ledgers offer consistent, validated and trusted data, immediately visible and usable by all authenticated participants.

Fewer errors

“Smart contracts” embedded in the ledger could make paper-based documentation, inbound quality assurance and testing processes obsolete.

Embrace the change. Create new value.

1. Think business value

These technologies are tools, not ends in their own right. They need to be pointed at the key pain points in the business to generate real value.

2. Think bold

It’s good to have an ambitious vision. But it’s just as important to understand the technology is moving faster than most organizations can adapt to. Map out a clear change journey, including reskilling.

3. Think talent

Be aggressive in recruiting the necessary skilled resources—they’re only going to get scarcer with time.

4. Think platforms

New ways of working with data will require new platforms. It’s time to leave restrictive legacy systems behind.

5. Think holistic transformation

Avoid piecemeal implementation and ensure you can scale the technology across the business with proper governance.

About the Authors

Dr. Bernd Elser

Senior Managing Director – Global Lead for Chemicals and Natural Resources

Michael Ulbrich

Managing Director – Global Chemicals Sustainability Lead


Senior Manager – Accenture Strategy, Chemicals & Natural Resources


Manager – Accenture Strategy, Chemicals & Natural Resources

Visit our Subscription and Preference Center