Metinvest, a Ukrainian metallurgical company, has been utilizing artificial intelligence (AI) and analytics to improve its processes and become more environmentally friendly. In 2021, Azovstal Iron & Steel Works, a subsidiary of Metinvest, outperformed its competitors in terms of process efficiency thanks to AI. Ukrainian specialists were also able to perform maintenance twice as fast as their counterparts in neighbouring countries using augmented reality. The company has implemented a computer vision system that has improved the quality of its products. Metinvest’s CEO, Yuriy Ryzhenkov, stated that the company is undergoing a “green” and digital transition and that IT specialists are needed to implement these changes. The company plans to invest $9 billion in its green transformation, which includes modernizing its factories to produce low-carbon steel and building a new rolling plant in Italy. The green transformation of Metinvest’s Ukrainian assets could cost about $9 billion, according to Ryzhenkov. The company is also planning to replace four coal-fired blast furnaces with new equipment to cut carbon emissions, which will require an investment of $20-30 billion in the coming years. Metinvest aims to cut greenhouse gas emissions by 15% by 2030 and by 40% by 2040.
