ADNOC hosts inaugural artificial intelligence forum
Industry innovators consider how to realise up to $500bn of projected savings across the oil and gas industry from harnessing AI
The Abu Dhabi National Oil Company (ADNOC) hosted, today, senior oil, gas and technology leaders at the inaugural ADNOC Artificial Intelligence (AI) Forum. The event was held at ADNOC’s HQ, in its state-of-the Panorama Digital Command Center, to discuss radical industry shifts, the rise of AI and how, collectively, the industry can accelerate AI advancement to unlock new value from oil and gas resources.
“We all agree we are still only scratching the surface of how technology, and different ways of thinking, can truly unlock our full potential," said Sarah Karthigan, global AI executive at ExxonMobil. "Our plans for AI need to be bold, and if we are going to see value creation, we need not only embrace technological disruption, but also foster cultural change. We need to build organizations that have truly agile people, without compromising the strongest standards and processes the oil and gas industry is renowned for.”
The potential impact of AI on the future course and competitiveness of the oil and gas industry could be dramatic, radically changing the traditional practices and delivering new sources of value. According to the World Economic Forum, primary savings generated from robotic applications and big data analytics could total $500 billion by 2025.
“Digital innovation is delivering unparalleled levels of progress and prosperity across the world, as we enter a new age of opportunity and growth," said Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO. "ADNOC is embracing Oil and Gas 4.0 and helping to drive the 4th Industrial Age, by using AI, Big Data and Blockchain to enhance our operational efficiency, maximize our performance, drive our profitability and empower our people.
“And as we continue our transformation into a more commercially minded, performance-driven company, it will be the rapidly evolving power of technologies, like AI, that will enable us to access opportunities never before seen and ensure ADNOC not only thrives in the new energy landscape, but also leads.”
Coinciding with the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), one of the world’s leading oil and gas conferences and exhibitions, the forum focused on exploring the possibilities beyond the confines of ‘AI-Today’ to imagine the highly improbable but not actually impossible advancements of tomorrow, along with the capabilities, investments and horizons that will need to be matured if the benefits are to be realized.
“If we are to thrive in the future, we need to not only embrace but champion and evolve technologies such as AI and open our minds to consider the ‘what-ifs’ in 2030 and beyond. In this regard, today’s inaugural event demonstrated ADNOC’s leadership and sent a message from industry leaders that we are pushing the boundaries of new technologies and perspectives in our continued pursuit of maximizing the value,” said Abdulmunim Al Kindy, ADNOC upstream director and chairman of ADNOC digital transformation.
The ADNOC AI Forum was moderated by Tracy Countryman, global managing director and industry X.0 lead for Accenture’s Resources practice, who said: “Today’s event was a remarkable coming-together of global innovation and technology thought leaders in a truly impressive setting. We really stretched the boundaries of traditional thinking and a number of interesting perspectives and paths were drawn, from which clear value was present.”