Artificial intelligence (AI) has been around for a long time. It came on the scene with a conference at Dartmouth University in 1956, the Dartmouth Summer Research Project on Artificial Intelligence, and since has hit many milestones. In 1962, the concept of an artificial neural network was proposed, and, by 1996, IBM’s Deep Blue AI computer beat world chess champion Gary Kasparov.
That progress continues, and it continues in the oil and gas industry, too. Amir Husain, the founder of SparkCognition, spoke for an OTC Live presentation and pointed out that AI struggled to make inroads on oil and gas facilities for two reasons: One, the AI was not holistic enough to encompass the many complex and changing aspects of oil and gas assets; and, two, AI is very expensive. Both of those limitations are changing.
Now, there are “lots of applications for traditional oil and gas,” Husain said. “With the added benefit of increasing efficiency, reducing environmental impact, reducing the chances of environmental disaster caused by unexpected failure of equipment, and then also creating these capabilities that help with the energy transition.”
Watch Husain’s presentation on The Coming Age of Artificial Intelligence on OTC Live here.