12 July, 2017
Adding Artificial Intelligence To Energy Production
These are turbulent times for the energy industry, and oil and gas companies need every technology innovation they can get. Artificial intelligence (AI) might soon become one of the biggest competitive differentiators for these businesses.
As consulting firm McKensey & Company noted in an April 2017 report, soaring demand in emerging markets, new energy sources, and the expected growth of electric vehicles are among the factors disrupting the industry.
Within the oil and gas industry, AI and machine learning are already being used for processing high volume data and to achieve operational efficiency, said Arunkumar Ranganathan, associate vice president and head of the domain and process consulting groups for energy, utilities, and services at technology consulting firm Infosys.