Artificial Intelligence (AI): Transforming the Oil and Gas Industry

Artificial Intelligence (AI) is largely helping the oil & gas industry to shape its future. AI is predicted to highly impact the oil and gas industry over the coming years. Artificial intelligence has a number of potential applications in the oil and gas industry, from surveying to planning and forecasting, and facility management to safety. AI is being used for predicting equipment failure and scheduling maintenances in oilfields. A MarketsandMarkets report estimates, the global AI in Oil & Gas Market is expected to grow at a CAGR of 12.66%, from 2017 to 2022, to reach a projected market value of USD 2.58 Billion by 2022.