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Petrobras eyes $1 Billion in annual savings with expanded GenAI automation adoption across additional enterprise processes

Automation Anywhere, the leader in intelligent automation solutions that put artificial intelligence (AI) to work across every aspect of an organization, announced that Petrobras realized $120 million in savings within three weeks by using Automation Anywhere’s Automation Co-Pilot for Business Users to efficiently prepare and process its complex tax filings.

Petrobras is the largest energy company in South America and Brazil with more than 45,000 employees and 70 years of experience in ultra-deepwater oil and gas exploration. With their technology-forward business approach, Petrobras wanted to increase the accuracy of its tax filings and close the gap between its heavy use of AI in deepwater oil and gas exploration and production, and its limited use in administrative processes for corporate departments like procurement, finances, taxes and HR.

With the ability to work with unstructured document data and create automations using natural language, Petrobras leveraged Automation Co-Pilot for Business Users within its tax department to solve for potential inaccuracies in tax filings while adhering to the extensive and complex rules and regulations. Petrobras fed hundreds of pages of complex Brazilian tax code into a new generative AI model powered by Automation Anywhere, along with months of the company’s tax data. In three short weeks, the department uncovered $120 million dollars in savings, and ultimately automated its tax filing system and process, resulting in the ability to file taxes within three days without requiring employees to work weekends during a tax season for the first time in 15 years.

“We’re thrilled with our early results with Gen AI-powered automation to save us tens of millions of dollars in just a few short weeks,” said Carlos Barreto, CIO at Petrobras. “We’re actively working with Automation Anywhere’s intelligent automation platform to help us identify new opportunities to improve workflows across our business to improve productivity, achieve significant cost savings and improve our business results.”

After seeing its initial gains utilizing AI this past tax season, the company plans to leverage Automation Anywhere’s intelligent automation solutions to deploy generative AI in other key business departments this year. Petrobras continues to explore the adoption of other generative AI models to accelerate departmental administrative processes, including HR functions, other tax processes, procurement processes, and finance functions, anticipating more than $1 billion in annual savings.

The company is planning to use the savings to help the company transition to sustainable forms of energy over the coming years and has a strategy to develop renewable energy, including wind and solar. 

“Petrobras is an incredible success story of using automation and AI to rethink their business at every level,” said Adi Kuruganti, CPO at Automation Anywhere. “Many companies are just beginning to see how fast massive savings can be realized with generative AI-powered automation. We are excited to continue collaborating with Petrobras to scale automation throughout their company to achieve greater cost savings, with improved speed and accuracy, and empower their employees to focus on higher-value work because of AI.”

More information about Petrobras can be found at: https://petrobras.com.br/en/

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