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Digitisation in the Energy Sector

Through the integration of big data, artificial intelligence (AI), and the Internet of Things (IoT), oil and gas companies are maximising efficiency and productivity levels.

One of the key market trends for the energy industry this year is a no-holds-barred approach to digital innovation. Companies have evolved from seeing digitisation as a daunting, yet necessary, undertaking, to considering it their top priority for change.

Key fact: In 2021, 85% of CIOs in the energy sector have assumed responsibility for creating a change-enabling technical platform

But collecting reams of data isn’t enough. To unlock immediate value, operators must be able to quickly analyse this data and use it to inform strategic planning.

Leading the charge of game-changing technologies for the energy sector in 2021 is AI analytics. The accuracy and capabilities of this technology are constantly evolving, making it an indispensable tool for analysing digital information and optimising operations.

Digital twins are another key market trend. Their increased integration with IoT applications, AI technology, and external ecosystems make them pivotal to strategic planning. By increasing the transparency and automation of assets, digital twins extend asset lifetime, improve operational efficiency, and maximise production.

Benefits

  • Massive efficiency gains

  • Competitive edge

  • Better decision making


Learn more insights by browsing our resource centre and learn more about digital trends shaping operator responses to the coming hydrocarbon boom and energy transition in the Innovation Forecast in Energy.

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