By now, everyone has heard of Artificial Intelligence in some capacity. Many of us still view it as something out of a science fiction novel or an apocalyptic scenario like I, Robot; something that could occur in the somewhat distant future. However, AI has already begun its transition into our world, albeit in a more subtle way than I, Robot. Artificial Intelligence exists in the processes that not only compile and analyze various types of data but are smart enough to spit out educated answers based on that information.
The thing is, yes AI has the potential to be placed into humanoid robots and whatnot, but in our current reality, it’s being used to better improve processes like data analytics and can be applied to a wide range of fields. In particular, AI is revolutionizing the oil and gas industry. You may be wondering what AI has to do with oil or gas, but it’s actually pretty clever. Let’s take a look:
1. Machine Learning
Starting from the bottom, the basics of these complicated AI systems is machine learning, which is exactly what it sounds like. This technology is so sophisticated that it’s possible to “teach” machines how to solve complex problems in a fraction of the time it would take to solve a problem old school (read: by human brain).
Using cloud-based capabilities and intricate algorithms that the machine generates on its own once it has the necessary variables, AI can quickly and accurately find subsurface faults where potential hydrocarbons may be. The machine basically takes the time and guesswork out of finding oil and gas, which is a good thing, considering it’s a nonrenewable resource and we don’t quite know what we would do if we were to run out before we found more. On another note, finding oil and gas quicker means that we can spend more time figuring out what to do with it and potential new applications.
2. Predicts Future Problems
Another thing that AI does for oil and gas companies is predict future problems far in advance. Using previous data, the machine efficiently analyzes enormous quantities of new data to map out trends and thus, predict future scenarios. This is incredibly important because playing a guessing game of sorts isn’t that efficient and being able to predict outcomes and potential roadblocks help keep companies from falling behind in the competition. AI essentially prevents stagnation and encourages innovation, which leads to profit for oil and gas companies.
Not only does AI make finding necessary resources and predicting problems much easier, but it’s more cost-effective as well. Smart software solutions are more affordable than they might sound and while some people may fear that AI will take their jobs, the reality is that, instead, it enables those qualified workers to spend more time on the analytical aspect and in turn, more time spent on analytics means more revenue.
Artificial Intelligence isn’t an army of robots here to take over the planet. Rather, it’s a complex and sophisticated mathematical entity that basically makes everyone’s lives a little easier. Oil and gas companies can work more efficiently and find hydrocarbons in a fraction of the time and also spend more time on analyzing data and thus increasing revenue. With the rising application for smart software, it doesn’t look like Artificial Intelligence is going anywhere soon, so let’s embrace it.