AI will help in reshaping the future of Oil & Natural Gas Industries

AI in Oil & Gas Market was USD 1.42 Billion in 2016 and is expected to grow at a CAGR of 12.66% from 2017 to 2022 to reach a market size of USD 2.85 Billion by 2022.
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Significant contribution an AI ChatBot can bring to Insurance Industry

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YoY growth in utilization of AI & its related activities in the industry
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Of overall revenue will go towards automation of current work
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Reduction in operational cost

Oil & Natural Gas industries is facing a lot of disruption due to economic, social, political & economic challenges, and AI can help them overcome these issues

Onsite ChatBot

On-site Chatbot can be used to receive unstructured input from operators in the field when performing maintenance work. The chatbots’ AI can then analyze the issues and offer effective solutions based on an archive of expertise and insight. Other AI systems can monitor drilling and pipelines to

identify potential issues, automatically shutting down operations ahead of potentially catastrophic — and costly — failures.

Deployed effectively, AI technologies could have a transformative effect on the industry, ultimately allowing oil and gas organizations to build smaller, more elite teams, that can help deliver value more effectively and efficiently, and position for growth.

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Automation is increasing accelerated processes and safe work environments, Oil and Gas Industry with automation technology is creating efficiencies, and financial sense as opportunities exist from the well head to petrol pumps. Automation helps in improving accuracy and up-time,

improving safety and reducing overall operational cost. By collecting, collating and making insights from the various data collected throughout the process, it can help to identify the bottlenecks and problems and can help in creating a tangible and measurable meaningful solution. CoRover with the help of its AI platform helped organizations in bringing down their operational costs.
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Automation

Helping the workforce by bridging the gap with AI Intelligent Solutions

Loss of talent is a significant challenge for the oil and gas sector as a whole. Oil and gas has an aging workforce with many key workers nearing retirement. AI can help automate mundane and repeatable processes that require limited cognitive attention; by removing such tasks, it can make work more

meaningful and create more opportunities for employees to leverage their creative and problem-solving skills. This will make jobs more attractive to purpose-driven generations. AI can also capture the knowledge of senior professionals to support business continuity and create “virtual instructors” and “smart agents” that can train up and advise the next generation. This is the new convergent human and machine workplace model that the sector must embrace.
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AI does not just reduce the volume of work — it also creates many opportunities for new types of jobs. These intelligent systems require a slate of new technical, design and operational skills. Entire new job categories, such as next generation programmers, data scientists and engineers,

trainers and managers for robots, AI solution architects, and intelligent system monitors, will emerge, which will appeal to younger generations. AI improves the employee value proposition by taking people out of harm’s way in an industry in which safety is a major priority.
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Creation of Skill based Jobs

Digital Transformation in the sector

Companies can use digital visualisation to access real-time data and information about operations and react to changes as they happen, as well as take pre-emptive measures to resolve problems before they happen. This information can be used to help discover potential areas for exploration, uncovering new

resources through increasing the accessibility and utility of existing data. CoRover offered AI Conversational platform helps the organization to deploy these machine bots and through its reinforced learning, it helps to churn meaningful data and help in solving complex problems.
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With the growing slowdown in Oil and Natural Gas, it is very important for them to invest at the correct place and should be measurable with the defined expected values. With the implementation of AI, ChatBots & Automation, they can measure how much efficiency it is bringing against the valuable

dollar they are spending on creating a new alternative. The analytics supported through the CoRover AI Platform helps to measure these parameters and helps you to understand the efficacy of the solutions being deployed.
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Measurable Value based ROI through Analytics

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