Resources for Innovation Still Needed Amid Oil, Gas IT Budget Cuts
“Energy companies recognize value not only in understanding what happened but the ability to predict future and prescribe anecdotes for complex problems and discover opportunities too complicated for the human brain to process,” Niven noted.
Cognitive computing and natural language processing are in their infancy but promising technologies for oil and gas. Advanced analytics computer systems are trained using artificial intelligence and machine learning algorithms to sense, predict, infer and even reason to a certain extent, said Niven.
How will these technologies impact IT? Niven said that every energy executive he talks to wants analytics. The increasing use of analytics will draw on a variety of internal and external data sources, and require IT teams to have skills and expertise in data science and engineering.
While these technologies can help companies, they should first investigate what they want to accomplished before investing in these types of technologies, Niven said.
“It is critical to understand business purposes and objectives to achieve analytics for it to be meaningful.”
While analytics can be a powerful tool, using analytics can increase a company’s risk of a cyberattack.
Read more at: Automation of Oilfield Operations to Double by 2020
View Full Article
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
Senior Editor | Rigzone