AI is everywhere – from the algorithms that run social media to the chatbots on retail web pages to the voice assistants on our phones, artificial intelligence is helping both businesses and consumers increase efficiency, be more productive, and sift through the ever-growing amount of information available.
Here are some ways the oil and gas industry could utilize AI to facilitate their operations.
1. Increased production
Artificial intelligence technology may be primed to help increase production at the pump. AI is able to gather and analyze data from many different sources, such as data input by field agents and gathered by digital devices, like sensors. This combined data can tell project managers and other operations personnel a lot, allowing them to prioritize things like pump repairs and adjustments, helping to speed up or increase production.
2. More accuracy
Automation is another benefit of AI. Artificial intelligence makes it much easier to track data and also compare past and previous data trends. This means finding work orders or compliance paperwork can be done faster – it also means that data can be checked against itself to suggest possible errors or missing information.
3. Better safety
Because of its excellent pattern recognition and ability to sift through large amounts of data from disparate sources, AI has helped some organizations increase their safety protocol and procedures while minimizing or reducing accidents and injuries. AI can easily tell you if more accidents are happening during certain times of the year, under certain managers, in certain regions, etc. With this information, you can not only predict what accidents or injuries may occur and when you can help reduce them over time.
AI has helped businesses all over the world be more productive while reducing errors. It’s only a matter of time before oil and gas companies are able to fully optimize the technology to their operations and use this technology to help them operate more effectively and more profitably.
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