iSoftStone Was Invited to “2018 China Petroleum and Petrochemical IT Exchange Conference”
The 19th CPC National Congress has put forward the requirement of integrating further digital technologies including Internet, big data and AI with the real economy to transform and upgrade traditional sectors, but how to achieve that for conventional businesses like petroleum companies? The answer may be found in the statement of iSoftStone Information Technology (Group) Co., Ltd. (iSoftStone) at the “2018 China Petroleum and Petrochemical IT Exchange Conference & Exhibition”.
The conference, co-sponsored by Chinese Petroleum Society, PetroChina, Sinopec, CNOOC, Sinochem, and Yanchang Petroleum, was held to discuss around the topic of how to transform China’s petroleum and petrochemical enterprises with digital technologies, make them more intelligent and increase their capability against network threats. More than 1,000 people from the Ministry of Industry and Information Technology, and petroleum and petrochemical companies were present at the event, including Qingfa Li and Jianxiang Zhu, Senior Vice Presidents of iSoftStone, as well as Shuwu Wu, the company’s Vice President.
Shuwu Wu, at this meeting, shared his view about how to propel industrial transformation by introducing the digital solutions iSoftStone has provided for petroleum and petrochemical corporations. He was convinced that the core strategy traditional sectors should adopt for digital transformation is KTA (knowledge-thinking-action) intelligent system, that is, to achieve machine intelligence (action) through algorithm models (thinking) created based on big data (knowledge). The system can think like human brains while avoiding uncertainties of human brain analysis, increasing cognition by 20 times to make more sensible decisions.
iSoftStone, since launching the KTA system, has witnessed a huge progress its clients made in their services: 30-70% decreased decision error rate, 65% reduced sales loss due to product ineffectiveness, 5-10% and 25-40% declining costs in transportation, warehousing and supply chain management respectively, and a 20-50% drop in total inventory. This proves that iSoftStone is able to help conventional firms including those in petroleum sectors become more competitive by making them a full intelligent entity from scratch.
iSoftStone, having long been committed to enable a digitalized energy industry in China, has served many energy companies such as Yanchang Petroleum, Beijing Gas, Xinao Gas, and China Guodian. As a leading China innovative software and IT services provider, as well as a practitioner in transforming China's energy sector with digital technologies, iSoftStone will continue to provide effective packages of digital services for industries across China to help them achieve transformation and enhance competitiveness.