Automation Anywhere AI Solution Drives Savings at Petrobras
Organisations globally are today harnessing the power of generative AI (Gen AI) and automation to streamline business processes, boost productivity and efficiency and reduce costs.
Now, intelligent automation solutions leader Automation Anywhere has announced that it has helped energy giant Petrobras realise US$120m in savings within three weeks, highlighting the emerging technology’s potential across industries.
The largest energy company in South America and Brazil, Petrobras has more than 45,000 employees and 70 years of experience in ultra-deepwater oil and gas exploration. Petrobras wanted to increase the accuracy of its tax filings and close the gap between its heavy use of AI in deepwater oil and gas exploration and production and its limited use in administrative processes for corporate departments like procurement, finances, taxes and HR.
With this in mind, Petrobras leveraged Automation Co-Pilot for Business Users within its tax department to solve for potential inaccuracies in tax filings while adhering to the extensive and complex rules and regulations. Petrobras fed hundreds of pages of complex Brazilian tax code into a new Gen AI model powered by Automation Anywhere, along with months of the company's tax data. In three weeks, the department uncovered US$120m in savings, and ultimately automated its tax filing system and process, resulting in the ability to file taxes within three days without requiring employees to work weekends during a tax season for the first time in 15 years.
"We're thrilled with our early results with Gen AI-powered automation to save us tens of millions of dollars in just a few short weeks," said Carlos Barreto, CIO at Petrobras. "We're actively working with Automation Anywhere's intelligent automation platform to help us identify new opportunities to improve workflows across our business to improve productivity, achieve significant cost savings and improve our business results."
Petrobras to deploy Gen AI in other business departments
After seeing its initial gains utilising AI, the company plans to leverage Automation Anywhere's intelligent automation solutions to deploy generative AI in other key business departments this year. Petrobras continues to explore the adoption of other Gen AI models to accelerate departmental administrative processes, including HR functions, other tax processes, procurement processes, and finance functions, anticipating more than US$1bn in annual savings.
The company is planning to use the savings to help the company transition to sustainable forms of energy over the coming years and has a strategy to develop renewable energy, including wind and solar.
"Petrobras is an incredible success story of using automation and AI to rethink their business at every level," said Adi Kuruganti, CPO at Automation Anywhere. "Many companies are just beginning to see how fast massive savings can be realised with generative AI-powered automation. We are excited to continue collaborating with Petrobras to scale automation throughout their company, to achieve greater cost savings with improved speed and accuracy and empower their employees to focus on higher-value work because of AI."
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