Al chips in to save $2 billion for Tata Steel
Steel

Al chips in to save $2 billion for Tata Steel

In a surprising convergence of technology and traditional industry, Tata Steel, a prominent player in the steel manufacturing sector, has harnessed the power of data and artificial intelligence (AI) to optimize its operations and drive substantial profits. The company has recognized that, alongside essential raw materials like iron ore and coke, data plays an equally pivotal role in ensuring its profitability and sustainability.

Tata Steel embarked on this data-driven journey in 2018, setting an ambitious goal to achieve EBIDTA (Earnings Before Interest, Depreciation, Taxes, and Amortization) savings of $2 billion, primarily through leveraging its data resources. As of today, the company proudly boasts having extracted $1.4 billion in savings, a testament to the effectiveness of their data-driven strategies.

Jayanta Banerjee, Chief Innovation Officer at Tata Steel, sheds light on this unlikely alliance between AI and steel production. He explains how data and AI have become integral components, comparable in importance to traditional raw materials like iron ore and coke.

This transformative approach exemplifies how industries are evolving in the digital age, where data-driven insights and AI technologies are being harnessed to optimize processes, reduce costs, and enhance profitability in sectors previously perceived as 'physical' in nature, such as steel manufacturing.

In a surprising convergence of technology and traditional industry, Tata Steel, a prominent player in the steel manufacturing sector, has harnessed the power of data and artificial intelligence (AI) to optimize its operations and drive substantial profits. The company has recognized that, alongside essential raw materials like iron ore and coke, data plays an equally pivotal role in ensuring its profitability and sustainability. Tata Steel embarked on this data-driven journey in 2018, setting an ambitious goal to achieve EBIDTA (Earnings Before Interest, Depreciation, Taxes, and Amortization) savings of $2 billion, primarily through leveraging its data resources. As of today, the company proudly boasts having extracted $1.4 billion in savings, a testament to the effectiveness of their data-driven strategies. Jayanta Banerjee, Chief Innovation Officer at Tata Steel, sheds light on this unlikely alliance between AI and steel production. He explains how data and AI have become integral components, comparable in importance to traditional raw materials like iron ore and coke. This transformative approach exemplifies how industries are evolving in the digital age, where data-driven insights and AI technologies are being harnessed to optimize processes, reduce costs, and enhance profitability in sectors previously perceived as 'physical' in nature, such as steel manufacturing.

Next Story
Real Estate

Mahindra Lifespaces Unveils ‘Home of Positive Energy’

Mahindra Lifespaces has introduced ‘Home of Positive Energy’, a brand philosophy aimed at enhancing well-being through thoughtful design, natural light, and green spaces. The launch includes a digital video campaign (DVC) and a Mobile Experience Centre—a first-of-its-kind traveling showcase across Mumbai.CMO Abhimanyu Mathur stated, “Every Mahindra home is designed as a sanctuary that nurtures aspirations and daily life.” The campaign, developed with The Womb, emphasizes differentiation beyond location and amenities, making well-being central to Mahindra Lifespaces’ identity.With t..

Next Story
Real Estate

Mumbai Registers 11,541 Property Deals in February 2025

According to Knight Frank India, while property registrations in the Mumbai real estate market have moderated, signs of stabilisation are emerging. The market saw a 4 per cent Year-on-Year (YoY) decline in registrations, with 11,541 properties registered in February 2025, compared to 12,056 in the same period last year, based on data from the Maharashtra Inspector General of Registration (IGR).Nevertheless, stamp duty collections remained steady in February 2025, reaching Rs 8.96 billion (bn), which is almost identical to the Rs. 8.85 bn collected in February 2024. On a month-on-month comparis..

Next Story
Resources

Godrej Expands Smart Security Portfolio

Godrej Security Solutions has launched a new range of premium home lockers, blending sophisticated design with advanced security. The company aims for 20% growth in FY26 and a 70% market share in the home locker segment.The new lineup—NX Pro Slide, NX Pro Luxe, Rhino Regal, and NX Seal—features dual-mode access (digital & biometric), intelligent alarms, and space-efficient interiors. Additionally, the Defender Aurum Pro Royal Class E safe meets the BIS-certified QCO mandate for jewellers, while the AccuGold iEDX Series supports precise, non-destructive gold testing.Godrej is expanding ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?