Automation Anywhere’s GenAI innovation helped Petrobras save $120 million and aims to achieve $1 billion in annual savings.

Automation Anywhere, a company specializing in intelligent automation solutions, has helped Petrobras, the leading South American energy company, achieve impressive savings of $120 million in just three weeks. This financial success was made possible by implementing Automation Anywhere’s Automation Co-Pilot for Business Users, which improved the efficiency of Petrobras’ complex tax filing process.

Petrobras decided to adopt a tech-forward approach to bridge the technological gap in its administrative functions. This included procurement, finance, taxes, and HR. To achieve this, Petrobras leveraged a GenAI model to process vast amounts of unstructured document data and complex Brazilian tax codes. By doing so, Petrobras enhanced the accuracy of its tax filings and revolutionized its tax filing system. Thanks to this innovation, the company was able to complete tax filings within three days, eliminating the need for weekend work during tax season for the first time in 15 years.

Carlos Barreto, Chief Information Officer of Petrobras, has expressed his excitement over the significant cost savings that were achieved through the use of GenAI-powered automation. As a result, the company is now planning to expand these intelligent automation solutions to other crucial departments. They expect to save over $1 billion annually, which will help the company shift towards sustainable energy sources such as wind and solar power.

Adi Kuruganti, Chief Product Officer at Automation Anywhere, praised Petrobras for their journey towards a successful business transformation through automation and AI. The partnership between Automation Anywhere and Petrobras is a great example of how GenAI-powered automation can lead to significant cost savings, improve operational efficiency, and allow employees to focus on more valuable tasks.