http://signaloil.wpengine.com/wp-content/uploads/2015/10/Signal-Oil-logo-red-300x32.png 0 0 RSS FEED http://signaloil.wpengine.com/wp-content/uploads/2015/10/Signal-Oil-logo-red-300x32.png RSS FEED2018-08-16 03:03:102018-08-16 03:03:10How Oil & Gas Workers Are Evolving In Relation To Technology
How Oil & Gas Workers Are Evolving In Relation To Technology
Artificial Intelligence (AI) in the oil and gas industry stands to reach US$2.85 billion by 2022. Why? Because data is never special. Oil rigs may generate somewhere around 50 terabytes a year, but that kind of big data needs to be applicable to be useful and, unfortunately, humans do a terrible job of classifying things into datasets. Indeed, a good scenario will see 10% of the resulting datasets actually be beneficial.
Most competing firms are also known to have access to the same datasets. This means that how they each choose to clean up, interpret, transform into information and disseminate that data throughout the organization is where the opportunity lies. More and more organizations understand that, even though their focus is often on mitigating risk (think health and safety), risk is now necessary in order to move the needle. They are ready to change the way they treat their people and their screens, and must use AI to do it.