Accenture to Acquire Industrial AI Company Flutura

Accenture has agreed to acquire industrial artificial intelligence (AI) company Flutura, headquartered in Bangalore, India. Flutura will reportedly strengthen Accenture’s industrial AI services to increase the performance of plants, refineries and supply chains while also enabling clients to accomplish their net zero goals faster.

Accenture plans to bring Flutura’s capabilities to clients in the energy, chemicals, metals, mining and pharmaceutical industries. The terms of this deal were not disclosed.

Flutura’s has a team of approximately 110 professionals. The team specialises in industrial data science services for manufacturers and other asset-intensive companies. Its AI platform provides self-service solutions for advanced analytics. The solutions help process, asset management and reliability engineering teams assess, predict and improve the asset performance, reliability, throughput and energy efficiency outcomes of production and manufacturing facilities.

“Flutura democratises AI for engineers, enabling manufacturing and other asset-intensive companies with carbon intelligence to reduce emissions, energy consumption and lost output due to unplanned downtime of industrial assets. This acquisition will power industrial AI-led transformation for our clients globally and particularly in Australia, South-East Asia, Japan, Africa, India, Latin America and the Middle East,” said Senthil Ramani, senior managing director and Accenture Applied Intelligence lead for Growth Markets.

“Our AI platform enables engineers to respond with agility to everchanging market and operating conditions. We look forward to scaling this as part of Accenture and helping more industrial clients achieve high-value outcomes in their production operations,” added Krishnan Raman, chief executive officer (CEO) at Flutura.

Companies need strong AI capabilities to build a digital core and become more successful, according to research Accenture presented at the 2023 World Economic Forum in Davos. Another Accenture study found that most companies are not very AI-mature and have barely scratched the surface of the technology’s potential.