• There has been an active push for oil and gas companies to embrace the digital revolution, and as a result, the previously slow-to-adapt industry is now at the forefront of many types of emerging technology – including artificial intelligence, augmented reality, and the IIoT. Digital transformation is no longer an option that some companies are choosing to pursue: it is rapidly becoming impossible to function without strategies in place.

• Data is actually extremely cheap and very valuable in the digital age, however, 90 per cent of all data fail to influence business decision and making processes despite having often already been paid for. The endgame here is to completely transform the company’s operating model by digitalising core and support functions. This can broadly be broken down into the following areas:

    – Research and development can be helped by the leveraging of new approaches to data collection and analytics

    – New approaches to fuels and products can benefit from digital leveraging

    – End-to-end operations can change significantly with the use of data and analytics

    – Aim your services more accurately and precisely through a marketing revolution

    – The whole ecosystem of the business will tighten-up with new business models

• In order to properly capture the benefits of a digital transformation, modern oil and gas companies need to feel comfortable with the role they are playing in the digital ecosystem, must identify the other key players they need to maintain their digital presence, and need to prioritize skills and personnel acquisition for future proofing

• Inviltech and its partners can support Oil and Gas companies in managing these challenges.