Sarah Tamilarasan talks about Well optimization powered by Artificial intelligence and Machine Learning in the Oil and Gas industry, as there is a 200 billion dollar Performance Gap stemming from widespread inefficiencies, resulting in lost profitability.
Leveraging Artificial Intelligence / Machine Learning (AI/ML) to deliver real time, self-optimizing wells can solve this issue. AI/ML results mean that inefficiencies are predicted at scale, with the sole purpose of maximizing revenue. The key differentiator AI/ML brings to the table is the analysis of interdependencies between several datapoints in an asset, all at the click of a button. According to McKinsey Oil and Gas, AI/ML analytics applied correctly can provide returns as high 50 times the investment. Take a look at the complete post from here.