COGNITE
26.10.2023 13:01:34 CEST | Business Wire | Press release
Today, Cosmo Energy Holdings proudly announces its partnership with Cognite, a global leader in industrial software, and the adoption of Cognite Data Fusion®️ as the foundational data platform to secure profitability and enhance competitiveness in Cosmo Energy's downstream and petrochemical business.
Cognite Data Fusion, the leading Industrial DataOps platform, will serve as the cornerstone of Cosmo Energy's Digitalization (DX) aspirations. This move bolsters competitiveness through the digital optimization of existing business operations and processes. It also contributes to the overall enhancement of company revenue by improving business efficiency through IT/DX adoption, elevating operations based on data-driven insights.
“This inspiring partnership propels us towards our DX vision of cosmological evolution, which the Cosmo Energy Group is actively envisioning,” said Noriko Rzonca, Ph.D., Chief Digital Officer Cosmo Energy Holdings. “Generative AI-driven contextualized data with Cognite empowers our operations to be safer and more optimized.”
Cognite Data Fusion contextualizes a wide range of data, including siloed IT, OT, and ET data, using AI and machine learning for automated data contextualization. This empowers experts and engineers to retrieve necessary data quickly and easily, breaking down barriers for cross-departmental data utilization and enabling data-driven plant operations. Additionally, it provides flexible support for various digitalization initiatives crucial to industry, including the digitalization of plants centered around P&ID and 3D data, the creation of digital twins, and the optimization of field operations through digital devices.
Harnessing Cognite Data Fusion for remote monitoring through digital twins, Cosmo Energy will enable remote work in plant operations, heralding a paradigm shift in working practices. Through the integration of refineries in the digital realm and the implementation of collaborative maintenance (coordinated maintenance and function consolidation) among refineries and plants, Cosmo Energy will drive more efficient operations.
Cosmo Energy will also leverage Cognite AI, the generative AI accelerator for industrial data and value realization, to streamline and expedite employee tasks by retrieving necessary data in conversation format and pinpointing relevant data, fostering a transition to highly productive tasks.
"Cognite Data Fusion will accelerate achievements to advance the digitalization of refineries and serves as the ideal platform foundation to support Cosmo Energy's DX Initiatives, said Hirokatsu Harui, Director, Executive Managing Officer, Cosmo Oil. "We eagerly anticipate the implementation of "Cognite Data Fusion®️" and "Cognite AI" to further enhance the efficiency of plant maintenance and manufacturing operations, realizing advanced tasks through data utilization."
"The robust adoption of Cognite Data Fusion paired with the industrial generative AI functions in Cognite AI will contribute to the creation of new value for Cosmo Energy,” said Dr. John Markus Lervik, co-founder and Chief Strategy & Development Officer at Cognite. “Generative AI is a revolutionary tool for enhancing employee capabilities in future business growth and to effectively leverage it, a DataOps platform capable of constructing industry-standard industrial data models and easily extracting data from public interfaces is essential. We are fully committed to partnering with Cosmo Energy in this digital transformation."
Cognite AI, featuring a groundbreaking architecture that integrates LLM (Generative AI) such as GPT3.5/4 and PaLM with Cognite's unique data modeling, search, and extended generation (RAG) functions, enhances the capabilities of general-purpose LLMs by accessing data from a company's own sources. It generates precise and advanced outputs based on a company's private industrial data within a secure and protected SaaS tenant. Furthermore, Cognite AI provides business end-users with the ability to create low-code applications using natural language.
About Cosmo Energy Group:
Cosmo Oil Co., Ltd. and Maruzen Petrochemical Co., Ltd. are part of the Cosmo Energy Group, which assumes the public mission of safely and stably supplying essential energy and chemical materials for daily life. In addition to its core businesses in petroleum and petrochemicals, the group anticipates long-term environmental changes and is expanding into renewable energy. Guided by the group's philosophy of "Harmony and Coexistence of the Earth, Humans, and Society," the company leverages its strengths to promote initiatives such as next-generation mobility society using the service station (SS) network, environmentally friendly electricity sales, and the expansion of clean energy, particularly wind power generation. Through these endeavors, including the one mentioned here, the company aims to achieve carbon neutrality by fiscal year 2050 and contribute to addressing societal issues and building a sustainable society. For more information, visit: https://www.cosmo-energy.co.jp/en/top.html
About Cognite:
Cognite is a globally recognized leader in industrial software with a clear vision: to rapidly empower industrial companies with accessible, trustworthy, and contextualized data and drive the full-scale digital transformation of asset-heavy industries. With its market-leading Industrial DataOps platform, Cognite Data Fusion®, and a comprehensive suite of Industrial Generative AI capabilities, Cognite AI, Cognite makes it easy for decision-makers to access and understand complex industrial data. Cognite Data Fusion® is a user-friendly, secure, and scalable platform that enables industrial data and domain users to collaborate quickly and safely to develop, deploy, and scale Industrial Generative AI solutions that deliver both profitability and sustainability. Visit us at www.cognite.ai and follow us on LinkedIn and Twitter.
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