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Artificial Intelligence: 5 ways AI is disrupting Oil & Gas UK Waracle
The Oil & Gas sector is ripe for innovation, particularly when it comes to Artificial Intelligence (AI). A recent report conducted by Markets & Markets suggested that the value of AI within the Oil and Gas industry could reach a monumental $2.85 billion by 2022 – with an astonishing compound annual growth rate (CAGR) of 13%. Right now, the potential application of AI in Oil and Gas is broad and diverse, from process efficiencies and facilities management and safety, to forecasting, planning and surveying. We recently explored how augmented reality (AR) is already revolutionising the oil and gas sector and AR in the new enterprise. One fantastic example of how AI is impacting the Oil and Gas industry is a recent initiative conducted by ExxonMobil.