Artificial Intelligence (AI) technologies are being increasingly used in the Oil and Gas (O&G) industry to optimize production, reduce operational costs and maximize efficiency. According to a Markets and Markets report, AI in the global oil and gas market is expected to grow from an estimated USD 1.57 billion in 2017 to USD 2.85 billion by 2022, at a CAGR of 12.66%. The oil and gas enterprises are seeking novel approaches to address the issues that plague the industry at present. In view of the falling fuel prices, concerns over the environmental impact of energy production and personnel safety, companies are leveraging technological innovations such as AI to optimize processes and maximize the returns on investment. In this report, we present insights and trends related to the AI technologies used in the Oil and Gas industry, through a study of patents related to petroleum exploration and refining technology segments.

A new wave of technologies is changing every aspect of human life–from online shopping and scheduling a ride with Uber to completing wells and managing reservoirs. The stuff of science fiction is becoming science fact. The HR Discussion team, via this article, aims to inform young professionals (YPs) about three trends that will change the way we will work in the future. These three trends are introduced in the form of three key questions for YPs. Everything– and everyone–will be measured, recorded, analyzed, and rated.

But Mr. Neece's former job as a well logger--measuring well conditions thousands of feet underground--was gone. Those duties are increasingly being overseen remotely and handled by automation. Technology has already transformed labor needs in most of the world's manufacturing. It's now upending the energy business, foretelling the end for one of the last sectors in America where blue-collar workers could depend on jobs paying six-figure salaries. "Our industry has had a lot of people making $150,000 out in the field," said Kathryn Humphrey, who spent two decades at BP PLC before retiring from the company's digital oil field program in 2013.