Read Full Article Here
Oil and gas is one of the largest industrial segments and is a natural fit for AI, according to AJ Abdallat CEO of Glendale, Calif.-based Beyond Limits. Removing friction from port scheduling operations requires a rare form of machine intelligence called cognitive intelligence (or human-like reasoning). Cognitive AI is now being applied to track tankers to determine when they leave port, where they’re going, and how much petroleum or LNG they are transporting. Predicting what is being shipped, plus refinery destination and arrival times, will help traders make smarter decisions. This involves the fusion of the key cognitive capabilities of multi-agent scheduling with reactive recovery, asset management, rule compliance, diagnostics, and prognostics to ensure seamless autonomous operation.
The value an AI system can bring to the energy market is tremendous. When machine learning is applied to drilling, information from seismic vibrations, thermal gradients, strata permeability, pressure differentials, and more is collected. By analyzing this data, AI software can help geoscientists better assess variables, taking some of the guesswork out of equipment repair and failure, unplanned downtime, and even help determining potential locations of new wells. According to Abdallat, AI brings better predictive technology and efficiency to mining operations.
Related Article: 8 Examples of Artificial Intelligence (AI) in the Workplace