Setting a sight to become a leader in the digital steel making by 2025, Tata Steel NSE -1.91% aims at improving business practices and enhancing its digital maturity. They are expecting to achieve EBITDA improvements of USD 2 Billion.
The company has said in its latest statement, "Tata Steel has embarked on a multi-year transformation journey to become an agile, digital and intelligent enterprise and the leader in digital steelmaking by 2025.
In the process, we intend to generate EBIDTA improvements of $2 billion, enhance our digital maturity and improve our work practices to be more insightful as an organisation." Some of the technologies that are driving this digital transformation include Artificial Intelligence, Cloud and Data Analytics.
The company also stated, "Over the past couple of years, investments made to create a robust IT infrastructure have helped improve our agility. This has also enabled us to respond to the current COVID-19 situation wherein ~8,000 employees are logging into enterprise applications and ~3,500 virtual meetings are being conducted daily as a majority of our workforce continue to operate from home."
Furthermore, the company is also strengthening its network capabilities. Adding to this, the company highlighted, "Our cybersecurity cell can pre-empt a significant amount of ever-increasing intrusion attempts," it added.
Tata Steel said that it has improved its IT infrastructure with a disciplined approach in structured data capturing and hence has led to higher generation with secured storage of data and seamless transmission.
If we look at the statistics in FY 2019-2020, the company’s data generation increased its volume by 2.5 times to reach about 20 TB per month. Because of this, to drive insight-based decision-making, the company has deployed more than 100 data analytics models across processes.
Similarly, the company has also said that in order to help identify sensorisation requirements and enable predictive maintenance for mission-critical equipment, they are developing a robust MTR (Maintenance Technology Roadmap).
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