POSCO: Steel Manufacturer Digitally Transforms Through AI
POSCO, a giant in the steel manufacturing realm and o9 Solutions, a pioneer in AI technology, have joined forces to propel POSCO's supply chain into the digital era.
This collaboration aims to invigorate POSCO’s supply master planning with smart, AI-powered insights.
Founded in 1968 and headquartered in Pohang, South Korea, POSCO isn't just any steel manufacturer.
It's the world’s seventh-largest by production volume with a diverse portfolio that spans steel production, energy, construction, engineering, battery materials and IT services.
POSCO prides itself on sustainability and innovation, pursing five major initiatives to meet environmental and social governance (ESG) responsibilities.
These initiatives, geared to foster a more sustainable future are outlined within the GREEN framework.
A Green Future with POSCO
POSCO’s strides in eco-friendly leadership are evidenced by its commitment to the GREEN term — a reflection of its aspirations for sustainability.
Spanning nine key areas, these initiatives highlight POSCO's ambition to cultivate a sustainable industrial and social ecosystem.
The company's sustainability ethos transcends typical ESG management. POSCO strives to harmoniously grow with stakeholders and help resolve pressing social challenges.
POSCO has been pursuing broader sustainable practices since 2018.
Embracing Carbon Neutrality by 2050
With eyes on a greener horizon, POSCO has devised the '2050 Carbon Neutral Basic Roadmap'.
This plan lays out its tactics to cut carbon emissions by innovating in low-carbon steel production and developing eco-friendly product lines.
Integral to this plan is POSCO's embrace of AI, working with technology leader o9.
- Boosting the sales of low-carbon footprints products and making forward-looking investments
- Pioneering efficient processes through smart, groundbreaking technologies
- Introducing electric furnaces and bridging technologies to greenify existing processes
POSCO's partnership with o9 signifies a leap towards integrating digital solutions in its operations, focusing on enhanced planning capabilities and improved customer relations.
After a rigorous evaluation, POSCO selected o9 for its ability to blend business planning processes with smart AI-based tools, offering a seamless, user-friendly interface.
"Our AI-powered technology will enable POSCO to facilitate data-driven decisions and comprehensive scenario analysis," says Chakri Gottemukkala, Co-Founder and CEO of o9.
"This partnership underscores our shared commitment to innovation and our shared vision for truly integrated business planning, which will significantly enhance POSCO's operational efficiency and customer experience."
Termed as the enterprise’s “Digital Brain,” the o9 platform ensures that POSCO’s decisions are guided by data, employing advanced algorithms to mirror the company's operations digitally.
This AI-enhanced solution enables the evaluation of manifold 'what-if' scenarios across various business functions on a unified platform, thereby enabling holistic decision-making strategies.]
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