ISSN: 2077-5423 (In Russian). Artificial intelligence, or rather things like machine learning and automation, which are often wrongly called artificial intelligence, is a big thing in oil and gas right now. The oil and gas business model can no longer sustain an inflated and inefficient value chain in the search for, and delivery of, hydrocarbons to the world markets. Applying digital technology to the oil and gas industries can help them reduce costs and improve efficiencies by making faster decisions … As routine tasks become automated, … The World Economic Forum also performed a detailed analysis of digital transformation in the oil and gas industry. Digital Trends in the Oil and Gas Industry // Oil. As of 2020, engineering is the digital skill with the highest level of maturity in the oil and gas industry. The potential applications for artificial intelligence and automation in the oil and gas industry are vast, from surveying and continuous monitoring, to planning and forecasting and improving safety. Innovations. Digital continues to disrupt existing (or new) business models, products, services, systems or experiences, enabled by data and technology across the enterprise. May 15, 2020 – Leading companies will use the crisis to redefine their reasons for being and their basis for distinctiveness. The challenges of implementing a digital … Seismic imaging technologies let drillers find oil and gas trapped miles underground and undersea. A decade ago, many of these technologies would have seemed like scenes from a Sci-Fi novel. 2020 Digital Operations study … According to company filings, U.S. oil and gas company Exxon Mobil ranked sixth that year, with a total 2019 revenue of some US$275 billion. Artificial intelligence (AI) is a term used to cover a wide variety of technological improvements and applications that involve machines ‘learning’ or ‘problem solving’, such as self-driving cars, understanding human speech (e.g. 2017. Oil and gas companies that respond to the ongoing industry volatility by investing in sustainable digital capabilities will be tomorrow’s winner. The uptake of digital transformation in the oil and gas industry has been slow, however. Companies will go down different paths and the strategies that succeed will … Smart oilfield’ technology. (212) 419-8286 The last decade has seen enormous advances in technology related to finding, estimating, and producing oil and gas. The oil and gas industry is no stranger to big data, technology and digital innovation. Despite efforts to revolutionise, this measure … This change will affect investor expectations for returns. Specifically, the significant price volatility as shifting geopolitical … ... Digitalization in the oil and gas … In Technology and Mobility In comparison to other sectors, the industry’s approach to digital transformation is expected to be evolutionary rather than revolutionary. Oil companies continue to invest in digital to remain competitive as the energy transition … Digital Trends in the Oil and Gas Industry. What is Industry … Rise of cyberphysical assets accelerate the evolution of work. Three-digit sales in the billions are not … As a result, oil and gas … Oil and gas companies must make the leap from the digital … As they steer through the fast-evolving environment, oil and gas companies are continuing their digital transformation journeys with a view to drive growth, productivity, efficiency, and safety across their … In the upstream oil and gas industry, digital transformation is changing how companies do business. 12. In brief Accenture’s seventh Upstream Oil and Gas Digital Trends Survey involved 255 industry professionals. 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