United Nations webinar: Artificial Intelligence and Natural Resource Management
I was proud to hear Powered mentioned and have our brand alongside Intel and PwC recently in a United Nations webinar hosted by Dr Robert Perrons regarding the use of Artificial Intelligence (AI) in the resource industry.
Interesting points from this discussion:
- So far, a lot of the AI applications that have happened in resource industries like oil & gas are “narrow AI” tools that are designed to do a particular job. Many of these narrow AI implementations involve solutions that were originally invented for other market segments but, because they involve fairly generic problems that affect lots of industries—like, for example, burrowing through archival documents to present today’s engineers with a comprehensive snapshot of an asset’s history—that can be repurposed for oil & gas firms without too much difficulty.
- One of the things that is coming into focus is that making bigger gains with AI in the future will probably require more domain-specific knowledge than today’s narrow AI applications are using. Known as “deep AI,” this more advanced form of AI won’t just be the kind of generic applications that have made up much of what we’ve seen in the oil & gas industry’s AI attempts so far.
- The inhabitants of Silicon Valley and companies like Google will likely not swoop in and own AI in the resource industry. Instead, the large tech firms are much better served by collaborating with innovative companies with boots already in the oil and gas patch simply because the Googles of the world will need to tap into the deep domain-specific knowledge that industry incumbents have. Taking deep AI to the next level will almost certainly entail a marriage of digital tools and context-specific know-how.
At Powered we work with several companies in the energy and resource digital space including Mipela , Tutis, Endla, and Fuelled . As always Rob’s observations are spot on. Companies like the ones we work with are all run by individuals who have a passion for the energy industry and have built digital tools to add value. Very interesting discussion, Dr. Perrons.
I am keen to hear if anyone out there has similar or alternative points of view….
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