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Home  > Markets & companies  > Raw materials market  > Evonik invests in digital change

Friday, 20 September 2019
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Markets & companies, Raw materials market

Evonik invests in digital change

Monday, 10 July 2017

With an investment of several million Euros, Evonik aimes at forging ahead with the digital change in the chemical industry.

Evonik is setting aside EUR100 million for the topic of digitalisation. Source: Pixabay

Evonik is setting aside EUR100 million for the topic of digitalisation. Source: Pixabay

The company is setting aside EUR100 million for the topic of digitalisation and is also entering into a strategic partnership with IBM and the University of Duisburg-Essen. "For us as a specialty chemicals company, digitalisation brings with it a world of possibilities. Now it’s about identifying them, testing them out, and being able to put them to good use. This is why we took this initiative.” explains Christian Kullmann, chairman of the Executive Board of Evonik Industries AG.

Development of digital skills

By providing the financial means and establishing the new strategic partnerships, the specialty chemicals company is aiming to further strengthen its position in the digital world. Henrik Hahn, who coordinates digitalisation activities for the Group in his role as chief digital officer (CDO), said, "By the year 2020, we aim to see around EUR100 million going into development and testing of digital technologies and the development of digital skills. It’s not just about data and technology, but especially about new business models, solutions, services for customers, and training qualified staff.”

Cloud based technologies

The partnership with IBM will see Evonik benefit from the latest technologies and innovative projects IBM is spearheading, encompassing technologies such as cognitive and cloud based technologies such as blockchain, Internet of Things, and Industry 4.0 amongst others. The partnership also allows Evonik to tap into IBM’s R&D technological breakthroughs such as Quantum computing.

First pilot project started

In July 2017 the first pilot project will start with Evonik and IBM set to co-develop a Cognitive Evonik-specific Chemical and Life Science Knowledge Corpus based on data analysed by IBM Watson Explorer and Watson Knowledge Studio. Watson Explorer is IBM’s cognitive search and content analysis platform; Watson Knowledge Studio is the company’s cloud-based app that enables developers to identify relationships in unstructured data and can be used in Watson Explorer. The resulting insights from this solution will be made available as a Digital Advisory Services but also to be used for efficiency improvements.

Focus on people and skills

The new strategic cooperation between Evonik and the University of Duisburg-Essen (UDE) will focus on the people and skills at the center of digital transformation. Topics include, for example, interactive knowledge transfer and individually tailored training concepts in industrial practice.  The cooperation will also look into the benefits of data exchange and digital business partnerships.

Pioneer in digitalisation

Evonik sees itself as a pioneer in digitalisation within the chemical industry and in early 2017 founded Evonik Digital GmbH to develop and advance ideas in this area, even through unconventional ideas – focusing on new products and services that will also support the success of Evonik’s customers.

Also of interest

Internet of Things: "Technologies are significantly ahead of the real situation in the industry"

Digitization in the coatings industry?

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