The cost pressures on today’s oil and gas companies aren’t the only thing making it challenging to find, produce and distribute oil and gas and their derivative products. A loss of experienced engineers and technical staff are too. Exploration, production and allocation decisions are risky, involving huge amounts of scarce capital. For years, these decisions have been made with a combination of disparately collected and stored data and the expertise and intuition of key personnel. But, as people with this valued experience exit the business, companies must make decisions with less-than-comprehensive information.
Enter cognitive computing – technologies that can process disparate forms of data to support decisions and learn from the results. While these technologies still have a relatively young track record, cognitive computing holds great promise for helping address some of the challenges facing the oil and gas industry.
I recently talked in detail about cognitive’s promise with Bob Violino from ZDNet. Read the article How cognitive tech can help energy companies or contact me to discuss further.
About the author
Tony Mataya is a recognized speaker and industry leader in sourcing, nearshoring and IT transformation. With experience as an advisor, a service provider and a client, he brings a unique perspective and a passion for leveraging technology to drive business value to each engagement. Tony has facilitated outsourcing contracts with a total value of more than $15 billion and has worked for clients in the U.S., Europe and Latin America across the manufacturing, defense, energy, healthcare, media/entertainment and telecommunications industries. Tony has twice been named a top 50 nearshoring executive by Nearshore Americas and has been the nearshoring chair for the Outsourcing Institute.