Digitization trends and automation technologies can significantly improve efficiency of processes and efficiency of oil and gas plants. This is owing to their ability to perform seamless operations and enable informed decision-making by means of data analysis using AI-based software analytics platforms. Conventionally, the oil and gas industry has adopted traditional technologies such as fixed wing aircraft and a human work force to monitor operations. However, this does not enable precise monitoring because manual inspections are prone to error. It is also increasingly difficult to inspect hazardous and cluttered areas. This has resulted in a need to adopt disruptive technologies in the oil and gas industry.
There has been a large amount of available information in the oil and gas industry which has not been processed over time and can potentially yield actionable insights when utilized effectively. Technology convergence in oil and gas sector has witnessed adoption of several technologies such as artificial intelligence (AI), robotic process automation, Big Data analytics, advanced sensor technologies, autonomous robots and drones, which can enable effective inspection of oil rig sites, corrosion and leaks monitoring, enable predictive maintenance of equipment thereby resulting in much higher efficiency. The technology and innovation report “Technology Convergence Impacting Oil and Gas Sector” covers enabling technologies driving the future of oil and gas sector. The report captures information on technology and application landscape, key stakeholder initiatives, and growth opportunities for technologies in smarter and modern workplace.
Key questions addressed in the innovation report:
- What are the key emerging technologies that are likely to have a high impact on oil and gas sector?
- What are the benefits and applications of the technologies enabling oil and gas sector?
- How are organizations impacting the digitization trend in oil and gas sector?
- What are some key use case scenarios showcasing impact of technology adoption?
- Who are the major influencers and what are the recent technology initiatives?
- What are future growth opportunities?