AI in Oil and Gas

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A recent EY survey showed more than 92% of oil and gas companies are either currently investing in AI or plan to in the next two years.

Here’s our surprised face. 

😐 (We’re not surprised.)

AI has the potential to unlock efficiencies across the oil and gas value chain—from initial exploration activities all the way through to the end user. That potential is starting to be uncovered: 50% of oil and gas executives say they have already begun using AI to help solve challenges at their organizations.

AI is most powerful when it’s used in combination with other technologies, like drones, digital twins, AR/VR, IoT, etc. 

From Ericsson

Ericsson noted four core areas where AI is already revolutionizing oil and gas: 

  • Safety monitoring

  • Proactive asset maintenance

  • Upstream automation

  • Process automation 

Further advancements in cloud computing, edge computing, 5G, and processing power will boost AI’s capabilities. Because AI doesn’t operate in a vacuum (except those super smart vacuum cleaners).