Revolutionizing the Chemical Industry with Lubrizol

Revolutionizing the Chemical Industry: Interview with CIEX 2024 speaker –Abhishek Shrivastava, VP of Innovation & Decision Science, Lubrizol

CIEX: Without giving too much away – what is the core message of your talk and what would you like delegates to

remember?

Abhishek: To continue to innovate in the chemical industry, we must work together and be amenable to change. Those who stay relevant are agile—we must think differently about data, keep sustainability at the heart of the entire value chain and work together to enable progress.

 

CIEX: What motivates you to join CIEX this year?

Abhishek: I am excited to join CIEX this year because I believe it is a great opportunity to learn from and network with some of the most innovative and forward-thinking leaders in the chemical industry. I am eager to hear about the latest trends, challenges and solutions that are shaping the future of our sector. I am also looking forward to sharing my own insights and experiences on how to drive digital transformation and sustainability in the chemical value chain. Together, we can create more value and impact for our customers, society, and the environment.

 

CIEX: With deglobalization, circularity and the energy transition as key trends currently shaping the chemical industry, what are the challenges to overcome and opportunities to harness?

Abhishek: Adapting to these trends requires building more resilient and flexible business models, as well as collaborating with stakeholders across the value chain to ensure compliance and efficiency, including:

• Leveraging digital technologies and data analytics to optimize production processes, reduce waste and emissions, and enhance customer experience. 
• Investing in innovation and R&D to develop new products and solutions that meet the evolving needs and expectations of the market.
• Accelerating the transition to renewable energy sources and low-carbon feedstocks, such as bio-based or recycled materials, to reduce the environmental footprint and improve the industry’s sustainability. 

 

CIEX: What is one project or initiative in the industry, outside of your own company and associations that really inspired you recently, and why? 

Abhishek: I am really inspired by an adjacent industry, Pharma. What inspires me is how Pharma uses data and AI to accelerate drug discovery with readily available libraries of molecules and key properties needed for docking with a target protein. It is a great example of how AI and data can be used for speed to market in other industries. 

Another example is Agricultural Tech. It is very inspiring to see the use of advanced technologies like drones and computer vision in initiatives like precision farming, leading to more sustainable farming practices.

 

CIEX: If the future of the chemical industry is high-tech, low carbon – what are 3 essential elements needed today, to realize this?

Abhishek: Three essential elements that are needed today are:

1. Innovation: The development and adoption of new technologies and processes that can reduce emissions, increase efficiency, and create value from waste streams. 
2. Collaboration: The cooperation and coordination among different stakeholders, such as key industry players, policymakers, customers, suppliers, academia, etc., to foster a supportive environment and facilitate the scaling up and deployment of low-carbon innovations.
3. Transformation: The strategic and systemic shift in the business models, markets and culture of the industry to embrace circularity, decarbonization and customer-centricity.

CIEX: Thank you very much – we look forward to hearing more at CIEX 2024 in Indianapolis!

 

 

Join us at CIEX Summit 2024 on October 23-24 in Indianapolis, USA to hear from Abhishek and other industry experts from Dow, Braskem, Cargill, Huntsman, Ashland, Levaco Chemicals, Cirba Solutions, and many more. Global chemical innovators will showcase cutting-edge technologies, organizational transformations, and mindset shifts in an evolving industry. Access the full agenda and registration details here: https://ciexsummit.com/. 

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