AI tools can drive big efficiencies in oil and gas

The role of artificial intelligence (AI) is evolving, especially in industrial organizations such as oil and gas, where data acts as a critical enabler to provide a competitive advantage. Industrial organizations operating in the fields of mining, oil, and gas; and marine, are going through a radical transformation and seeking innovative ways to optimize performance with minimized risk. The volatile and ever-competitive nature of the industrial companies demands them to identify new and innovative sustainable models to stay profitable, grow and unlock efficiencies. The situation has become more challenging in the wake of the coronavirus pandemic. According to a Capgemini research, over 50% of the European manufacturers, 30% in Japan, 28% in the USA, and 25% in South Korea implement AI solutions.