DSDE: Emerging Technology
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US federal agencies should develop new crosscutting programs to advance the mathematical, statistical, and computational foundations underlying digital twin technologies, says a new report from the National Academies of Sciences, Engineering, and Medicine.
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The increasing demand for critical minerals—the building blocks of an electrified future—is creating opportunities for the oil and gas industry to apply its extensive knowledge, tools, and data to help meet the demand.
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It is imperative for energy companies to assess potential legal ramifications of integrating artificial intelligence into their operations.
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For today’s oil and gas companies, digital twins offer untapped potential to decarbonize the leading source of their emissions—field production.
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Energy companies now can get more oil out of the ground using vast amounts of data that makes their offshore exploration more accurate, using a satellite uplink to transmit the data from oil rigs up to space and then off to the cloud.
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The US has had a lackluster response to the emergence of the technology, currently lacking any comprehensive roadmap for adoption, which translates into a low adoption rate.
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Case studies provide evidence of achievements in corporate sustainability while pursuing the adopted United Nations Sustainable Development Goals, thus highlighting the possibilities made available by digital twin technology.
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When it comes to new projects, the technology helps companies try virtually before they buy in to the venture or commission the undertaking, as well as address any design changes or flaws.
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Declining costs to launch monitoring satellites, as well as artificial intelligence, which makes parsing terabytes of emissions data feasible, have given the oil and gas industry an emerging tool for environmental stewardship.
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This paper focuses on the application of blockchain technology and the use of distributed ledgers on process safety and integrity management.
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