AI is the second key technology after IoT having the capabilities to bring out the productivity transformation in the oil & gas industry. North America represents the prominent and most advanced market of this industry. Nearly All of the top AI players in the oil & gas industry are headquartered in this region, with names such as Google, IBM, Microsoft, and Oracle. The applications of AI and machine learning (ML) in the oil & gas industry are many, and some of them can make a real difference in a sector that is pursuing to renew itself. Just by utilizing the potential of predictive analytics, big data, and ML in upstream oil & gas activities alone, costs might be slashed by $50 billion.

There are various technologies which are acting as assistive entities for AI to digitize oil & gas industry. Technologies like UAVs/Drones, NDT, Simulation, AR-VR-MR, IoT/IIoT, Robots and Connected Devices are some of them. Decreased demand and crude oil prices is the new normal of Oil & Gas industry. AI can help industry players to digitize complete value chain, reduce infra risk and OPEX. Cross-Functional governance, Physics based ML Models and Unsupervised Learning based AI suites will be the new catalysts impacting the usage of AI in Oil & Gas. In FABRIC there are more than 32 use applications and use cases mapped and evaluated by revenue for AI’s integration in Oil & Gas.

In last couple of years, launch of new technological suites and demand side investments were the key developments in this market.

For example:

From Supply Side companies like IBM, Intel, Microsoft, Accenture, Google, Oracle, Numenta, Sentient Technologies, Inbenta, General Vision, Cisco, FuGenX Technologies, Infosys, and Hortonworks are driving the wagon of AI’s integration in Oil & Gas.

Whereas, companies like China Petroleum & Chemical Corp., PetroChina Co. Ltd., Royal Dutch Shell PLC, BP PLC, Exxon Mobil Corp., Total SE, Chevron Corp., Marathon Petroleum Corp are driving the adoption of this technology in Oil & Gas industry.

FABRIC has investigated AI in oil and gas and offers 7! cross segments. Avira's market intelligence platform FABRIC has synchronized 235 high importance market activities using Machine Learning and Data Science Algorithms. We would love to exchange our methodology, datasets, and observations on the quick demo of FABRIC.

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