Analytical prediction: artificial intelligence may be led by the oil industry in the future

The oil industry is likely to lead in the not too distant future the use of artificial intelligence (AI) technology. I make this prediction based on the existing need that the oil industry already has and is going to incorporate so that it can handle an amount of data that is generated in the operational activities in the different departments that go from the crude oil commercialization chains, to the exploration and production processes of hydrocarbons, and without leaving aside the processes of oil refining in order to obtain derivatives such as gasoline and diesel.

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We must analyze this prediction taking into account that the main variable that influences as a primary source for the oil industry to position itself as a leading industry in the use of AI is the data generated in the same industry. As the oil activity generates a large amount of data, there are many things to investigate, do, explore and develop technologically to position the oil industry as the first energy generating industry in the use and implementation of AI.

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The first uses that have been made of artificial intelligence in the oil industry, leads me to believe that the great successes obtained will encourage large industries and oil companies to incorporate AI on a massive scale. For example, entities related to science and technology have managed to develop computers with great AI capabilities, where automated learning has taken a great role to bring solutions to areas of the oil industry, such as the area of petrophysics, which is where we want to maximize the optimization processes in relation to the search for hydrocarbons and everything related to the exploration processes.

If, successively, AI enters and is incorporated into other branches and brings benefits, surely many companies will be willing to pay for its use and implementation, of course, as long as the investment in the use of AI manages to lower production costs, especially in times when prices can fall to unthinkable historical lows.

So far, the idea of the oil industry taking a leading position in the use of AI is a mere prediction until the not too distant future, since there are industries such as the automotive industry for example that have been among the first industries to lead the use of AI for some time.

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This leadership position of the oil industry must also be analyzed taking into account the existing need to explore new offshore oil and gas fields, and that due to the inaccessibility of the locations the oil industry will have no other option but to have different equipment and machinery guided under AI technology, all this need that is already being experienced but that will increase in the future leads to contribute to the oil industry being a leader in the use of AI.

What kind of operational experiences in the oil industry lead me to reflect on this prediction?

Drilling wells is an activity in which I perform and which at the same time leaves me with a significant learning and linked to many branches of which I can humbly give my opinion for all of you.

There are operational failures for example in equipment such as the BOP valve assembly so that a fluid surge in the well and a possible explosion does not occur, these failures I think can be easily detected and with a high degree of predictability before a disaster occurs if AI technology is employed, The use of the AI can even have a favorable financial benefit when detecting this type of failure, since if the AI detects any failure associated with the BOP equipment, then the contractor that provides this type of service stops receiving the corresponding money for this service, and therefore there is a decrease in costs on the part of the state company that operates in these oil fields.

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If this prediction is positively assessed, we could ask ourselves the following question:

Where in the oil industry would the use of AI be significant?

As in all other industries, the use of AI has occurred where people have more risk to be able to carry out their operational activities at work. If we take this idea for the oil industry, we could say that where there is more risk to operate people is on the platforms, so this is the ideal place where AI would be most used.

In the future, AI can have a favorable impact on the activities carried out on oil platforms, but this is an issue that can be addressed and analyzed in the long term and that although predictions can be made, it is best not yet to speculate deeply about future economic gains by oil companies based on the use of AI.

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As a final conclusion in this analysis based on the alleged possibility that the oil industry is a leader among all industries that use AI to provide solutions for economic, environmental, safety and resource optimization benefits, I can mention that I have always been hearing about AI technology in particular, however the not so distant future and perhaps even today is when we should see an overflow use of AI in the oil industry, since it is in the present and more than anything in the future where we will see an overflow in the generation of data, so it is necessary to work on the use of AI in the oil industry with the intention of obtaining a complete development to achieve the maximum benefits of this technology.