Accenture and Kansai Electric Power Establish Joint Venture to Bring AI-Powered Analytics to the Osaka-Based Japanese Utility
The new company, K4 Digital, will help Kansai Electric Power enhance business processes, personalize customer experiences and create new business opportunities
OSAKA, Japan: Kansai Electric Power (KEPCO) (TYO: 9503), and Accenture (NYSE:ACN) have established a joint venture (JV) in Japan, K4 Digital Co., Ltd., to help KEPCO accelerate changes in its current business processes and 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 percent owned by KEPCO and 20 percent 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 Sept.1.
“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,” said Shinji Igarashi, senior managing director at Accenture who leads the company’s Resources practice in Japan. “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.
About Accenture
Accenture is a leading global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology and operations. Combining unmatched experience and specialized skills across more than 40 industries and all business functions – underpinned by the world’s largest delivery network – Accenture works at the intersection of business and technology to help clients improve their performance and create sustainable value for their stakeholders. With 449,000 people serving clients in more than 120 countries, Accenture drives innovation to improve the way the world works and lives. Visit us at www.accenture.com.
Accenture Applied Intelligence, part of Accenture Digital, applies artificial intelligence and human ingenuity at the core of business to help clients solve their most complex business problems. By deploying AI responsibly and combining it with our deep industry and analytics expertise, we enable the digital transformation of organizations, extend human capabilities, and make intelligent products and services a reality. Follow @AccentureAI and visit accenture.com/appliedintelligence.
Accenture Strategy operates at the intersection of business and technology. We bring together our capabilities in business, technology, operations and function strategy to help our clients envision and execute industry-specific strategies that support enterprise wide transformation. Our focus on issues related to digital disruption, competitiveness, global operating models, talent and leadership help drive both efficiencies and growth. For more information, follow @AccentureStrat or visit www.accenture.com/strategy.
