Machine learning, Big Data, and automation are revolutionizing global industry – and the energy sector is no exception. Innovation is driving technological progress, boosting economic efficiency, creating smarter business operations, and leading to more resilient infrastructure. It’s why businesses and governments around the world are making advanced technology – including artificial intelligence – a top economic and national security priority.
Energy companies are implementation big data and AI in versatile ways – and the sector is growing. The market for AI software in the oil and gas industry is expected to reach a whopping $2.85 billion by 2022. Predictive analytics can monitor miles and miles of underground pipelines, while machine-learning can help fossil fuel companies drill more effectively at a lower cost through better understanding the geological structures far below the earth’s surface. New 'smart' electric grids are employing machine learning technology to integrate computers, automation, and sensors in order to respond instantaneously – and even predictively – to rapid changes in energy demand.
View all SMART GRID Bulletins click here