Kansai Electric Power (KEPCO) and Accenture has formed a joint venture K4 Digital in Japan to help KEPCO accelerate changes in its current business processes.
Image: Accenture partners with KEPCO. Photo: Courtesy of Markus Spiske/Unsplash
The JV is also aimed at helping KEPCO create new business opportunities with digital technologies such as artificial intelligence (AI), advanced analytics and the internet of things.
KEPCO has already begun to use digital technologies to drive operational efficiencies in certain areas. For example, by analyzing data generated by smart meters, which measure customers’ electricity usage, KEPCO optimized power grid equipment and can make more-accurate forecasts of solar power production to prevent overloading the grid.
KEPCO is now strengthening these efforts with K4 Digital, which will integrate rapidly evolving digital technologies into KEPCO’s core business processes. K4 Digital will build a new analytics solutions platform to render maintenance of power station and grid equipment even more efficient and accurate. The JV will also work towards automating KEPCO’s internal processes and offering its customers more personalized experiences based on data such as individual power consumption.
The JV is 80% owned by KEPCO and 20% by Accenture, whose Applied Intelligence practice will play a pivotal role in bringing AI and data science expertise to KEPCO. The new company, whose digital strategy and transformation was developed with the help of Accenture Strategy, will start providing services for KEPCO on 1 September.
Accenture senior managing director Shinji Igarashi 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.”
Accenture announced the expansion of the Kansai office in February to help clients innovate in the digital economy, and the JV with KEPCO further demonstrates Accenture’s ongoing commitment to the region.
Source: Company Press Release