Accenture announces acquisition of industrial AI company Flutura

Accenture will acquire Flutura, an industrial AI company based in Bangalore, India. The company aims at enhancing its industrial AI services, allowing for improved performance of plants, refineries, and supply chains, while also assisting clients in achieving their net zero goals more quickly. The terms of the deal were not disclosed.

Flutura is comprised of approximately 110 professionals who specialize in providing industrial data science services to manufacturers and other asset-intensive companies. Their AI platform enables self-service solutions for advanced analytics, allowing teams to assess, predict, and improve the asset performance, reliability, throughput, and energy efficiency outcomes of production and manufacturing facilities. Additionally, industrial engineers and data scientists can swiftly develop digital models of industrial assets using Flutura's AI platform, which processes data from various IT and operations technology systems.

According to Senthil Ramani, the senior managing director and Accenture Applied Intelligence lead for Growth Markets, Flutura's AI capabilities enable manufacturing and asset-intensive companies to reduce emissions, energy consumption, and lost output caused by unplanned downtime of industrial assets. This acquisition will drive industrial AI-led transformation for clients across the globe, with a particular focus on Australia, South-East Asia, Japan, Africa, India, Latin America, and the Middle East.

Krishnan Raman, the CEO of Flutura, noted that their AI platform empowers engineers to respond quickly to evolving market and operating conditions, and that they are excited to scale this capability as part of Accenture and assist more industrial clients in achieving high-value outcomes in their production operations.

Research presented by Accenture at the 2023 World Economic Forum in Davos suggests that companies require robust AI capabilities to establish a digital core and improve their success. However, another Accenture study revealed that many companies are not yet fully mature in AI and have only just begun to explore its potential.