Aug 2, 2018

X Published : Aug 02, 2018 The joint venture's Applied Intelligence practice will be a critical factor in bringing artificial intelligence and data science skill to KEPCO Accenture and Kansai Electric Power recently announced that they have set up a joint venture in Japan. Named K4 Digital Co., Ltd., the joint venture will help KEPCO speed up changes in its existing business processes and build new business opportunities with digital technologies like advanced analytics, Internet of Things, and artificial intelligence. It must be noted that the JV is 80 percent owned by KEPCO and 20 percent by Accenture. The joint venture's Applied Intelligence practice will be a critical factor in bringing artificial intelligence and data science skill to KEPCO. The new company's digital strategy and the transformation was developed with the help of Accenture Strategy. It will start providing services for KEPCO from September 1, 2018. Shinji Igarashi, Senior Managing Director at Accenture who leads the company’s Resources practice in Japan, said , "K4 Digital will be at the core of KEPCO Group’s data utilization platform, and Accenture will provide K4 Digital with advanced insights supported by the digital expertise based in our recently expanded Kansai office. Accenture is committed to using our deep knowledge and experience in the latest digital technologies and methodologies, including AI and advanced analytics, to help KEPCO not only transform business processes but also to turn business challenges into opportunities." KEPCO has already started using digital technologies to grow operational efficiencies in certain areas. Case in point, by assessing data generated by smart meters, which calculates customers' electricity usage, KEPCO has been able to optimize power grid equipment and makes more accurate predictions about solar power production to prevent overloading the grid. The company is now fortifying these endeavors with K4 Digital, which will help integrate swiftly evolving digital technologies into KEPCO’s critical business processes. Furthermore, K4 Digital will create a new analytics solutions platform to render maintenance of power station and grid equipment even more efficient and accurate. Finally, the JV will also strive for automating KEPCO’s internal processes and giving its customers more customized experiences on the basis of data like individual power consumption. Tags