The oil and gas company will leverage Accenture’s risk expertise to configure Ripjar’s AI technology for analysis of its supply chain
Shell gas sign. (Credit: AntonioMartin/Wikipedia.org)
Accenture and UK-based data intelligence company Ripjar have partnered with Royal Dutch Shell to improve risk screening within its global supply chain by deploying artificial intelligence (AI) technology.
Leveraging Accenture’s industry experience and risk expertise, Shell is expected to configure Ripjar’s AI technology for analysis of its supply chain.
The insights derived from the analysis will provide Shell with additional accuracy and efficiency to assess risks across its third-party supply chain transactions.
Accenture said that the AI technology embedded in the system is also expected to decrease data-reporting errors by over 80%, compared to third-party legacy systems.
Ripjar CEO Jeremy Annis said: “Global energy companies like Shell can better provide the products and services that are essential to our society with the help of a business ecosystem.
“Ripjar’s technology, enhanced by AI, can help reduce the number of steps it takes to conduct due diligence and detect risks through continuous real-time monitoring of the supply chain.”
As part of the collaboration, Accenture will also help Shell to scale the supply chain solution, with the integration of the tool on Shell’s cloud-based infrastructure on Microsoft Azure.
In addition, the AI solution offers self-service capabilities to Shell employees as they carry out due diligence on third-party vendors.
The multi-year deal builds on Accenture Ventures’ investment in Cheltenham-headquartered Ripjar in 2018.
The investment was made to expand Accenture Security’s capability in data fusion, automated analytics, and machine learning to help organisations in tackling global security challenges.
Ripjar develops software to automate the detection, investigation and monitoring of threats from criminal activity.
Labyrinth, Ripjar’s data intelligence platform, combines automation, AI and data visualisation to help financial institutions, governments and corporates analyse and mitigate threats in real-time.
Recently, Accenture announced the acquisition of Brazilian industrial robotics and automation solutions provider Pollux for an undisclosed price.
Pollux offers solutions to streamline processes associated with manufacturing and logistics.