Right now, the O&G industry relies on Business Intelligence (BI) tools. But what if we had Intelligent Industry Platforms? O&G can’t hire specialists in every field. The industry needs software that deciphers the niche knowledge and helps engineers and leadership make decisions. Intelligent Industry Platforms focus on cleaned data and AI analysis blended to create solution scenarios based on deep expert intelligence that the highly trained engineer can decipher and select from. That would be the Fourth Technological Revolution in action, in industry. O&G is feeling the generational influence of intricate new knowledge flouting the conventional way of running a business.
“Our new Intelligence Team is customizing solutions to the tough, complex problems in O&G today.” Troy Ruths, CEO of Petro.ai outlines the Petro.ai foundation, tied to creating an Intelligent Industry. "We’re operating in a world now where being agile in the marketplace is a strength and where new science means old rules are meant to be broken. O&G engineers have to work hard to stay at the front lines of understanding new models and the options that can be optimized in the geomechanical and environmental arenas.
“We’re working so highly trained engineers are equipped for a future in unconventional shale. They need to know the new breakthroughs. They need to have the calculations as part of their data reveal.”
“We’ve seen companies transformed by using our software which puts machine learning at their fingertips combined with our industry expert analysis.”
Charles Connell, VP of Product, explains further, “Petro.ai is a full-service delivery of our differentiated analysis. A user can purchase Petro.ai and they get this amazing set of tools to analyze their data. Layered into the visualizations is an expert knowledge that can help direct and develop differentiated options. Our clients want the geomechanics, the science, the analytics. Petro.ai is a way to layer expert knowledge on top of advanced BI tools and deliver these answers.”
The Intelligent Industry is an opportunity to expand our current horizons, to be a part of the statement. Klaus Schwab, Founder of the World Economic Forum, identified this need in Industry 4.0, “Our responsibilities to one another, our opportunities for self-realization, and our ability to positively impact the world are intricately tied to and shaped by how we engage with the technologies of the Fourth Industrial Revolution. This revolution is not just happening to us—we are not its victims—but rather we have the opportunity and even responsibility to give it structure and purpose.”
Building on the Third or Digital Revolution where BI software transformed data into easily digestible visualizations that promoted insight,
the Fourth Revolution technology converts those visualizations into intelligent optimization tools. These tools, as the many apps in Petro.ai, minimize prediction error with option strategies that allow for scenario optimization.
The Fourth Revolution is machine learning combined with multivariate AI analysis and underlying complex multivariate calculations. The Fourth Revolution is 3D views of in-situ revelations combined with the Petro.ai ever-expanding Intelligent Industry knowledge base.
Petro.ai, as a Fourth Technology Revolution tool, incorporates the pieces that can bridge between the physical development needs of the O&G industry and the digitized data to create real cyber-physical models that minimize prediction error and maximize option scenarios. The addition of expert analysis support in the geomechanical completes the Intelligent Industry vision and allows for the ultimate use of cloud computing and cognitive computing in the decision-making tradeoffs of oil and gas.