[Quiz] Emerging Technology

What Do These Emerging Technologies Mean for the Oil And Gas Industry?

The oil and gas industry is going through a period of massive change. More and more technologies are being introduced on a larger scale that are changing the way businesses operate in all sectors of the industry. This quiz will help you to deepen your understanding of how emerging technologies will shape the future of the oil and gas industry and the businesses and individuals working in it.

What Are Some of the Most Important Ways in Which Artificial Intelligence Will Change the Industry?

Artificial intelligence will dramatically improve the safety of on-site workers by enabling them to make crucial, split-second decisions based on empirical data.
A reduced amount of downtime thanks to knowledge graphs and predictive intelligence analyzing when and where maintenance will need to take place.
AI-based hardware can be used to transform ocean exploration and reduce the likelihood that businesses waste time on empty wells.

Is Machine Learning Best-Suited for Upstream, Midstream, or Downstream Oil and Gas Companies?

You may be surprised to find out that machine learning can be implemented by businesses at all stages of the process. For example, upstream businesses can benefit from improved operational efficiencies in drilling, midstream companies can benefit from data-driven predictive insights that shape how they compress and transport products, and downstream companies can benefit from implementing a range of best practices to streamline operations.

Which Employees Benefit the Most from Implementing Internet of Things?

Virtually every person working in the oil and gas industry will benefit from implementing things embedded with technology. Vehicles, equipment, wearable devices, and even buildings that are equipped with sensors and software that is capable of transmitting data. The IoT allows hitherto unprecedented amounts of data to be transmitted throughout businesses and the knock-on effect this has can be enjoyed by employees ranging from on-site engineers to senior members of staff.

Will the Industrial Internet of Things Disrupt the Industry or be Just Another Fad?

The IIot looks set to be the biggest change that the oil and gas industry will have in recent memory. Businesses that don’t implement this technology will risk being left trailing behind their competitors. For companies in the oil and gas industry, this technology represents the biggest change in a lifetime and will undeniably be the catalyst that revolutionizes the industry.

The antiquated and often extremely inefficient approach that many companies currently use to maintain assets will be phased out thanks to the IIoT and massive changes will disrupt the industry. The IIoT will definitely be a major aspect in the future of the oil and gas industry.

Can Augmented Reality Save Lives?

In short, yes. Augmented reality helps to assist employees and also predict their safety. Wearable devices can monitor important metrics that measure things such as the wearer’s heart rate and blood pressure. These metrics can be the difference between safety and disaster and should be an essential part of every oil and gas business’s operations. Augmented reality also comes with a variety of other uses including overlays that increase worker intelligence and accuracy.

The future is exciting for the oil and gas industry and with these emerging technologies at the forefront, it looks set to be unlike anything the industry has experienced before.

Can AI improve safety for on-site workers using empirical data?

Yes