Oil and gas companies shouldn’t fear generative artificial intelligence (AI).
That’s what Mudit Kapur, the North America Energy and Commodities Lead at Publicis Sapient, told Rigzone in an exclusive interview.
“The industry understands generative AI can’t solve all problems, but the risk is thinking the elephant has to be eaten all at once,” Kapur said, adding that “going all in on a ‘big bang’ transformational idea leads to little ROI and unfulfilled outcomes”.
“It is important to first understand what generative AI can and can’t do for them, identify some smaller but value generating quick wins, prepare clear data governance/security/compliance and output guardrails, and then execute with an agile mindset (iterate along the deployment, don’t wait until the end to tweak),” Kapur continued.
Kapur told Rigzone that Publicis Sapient is “already seeing oil and gas organizations deploy generative AI to support a gamut of activities”. These include workforce attrition mitigation, supply and trading augmentation, predictive maintenance and field worker enablement, refinery process optimization, customer engagement, regulatory agency governance, and more, Kapur highlighted.
In another exclusive interview, Vicki Knott, the Chief Executive Officer and Co-Founder of CruxOCM, echoed Kapur’s sentiment, telling Rigzone that oil and gas companies do not need to be wary of generative AI.
“The place where it will add the most immediate value is in faster document creating – i.e. meeting notes, etc,” Knott said.
“AI can make these tasks much faster, adding significant value to oil and gas companies in the sense of increased productivity,” Knott added.
Publicis Sapient describes itself as a digital business transformation partner powered by AI. CruxOCM describes itself as the future of autonomous control room operations.
Who is Using AI?
As part of the latest Dallas Fed Energy survey, which was released back in June, executives from 123 oil and gas firms were asked if they were currently using artificial intelligence.
“Executives were provided examples of traditional AI and generative AI before they responded to the question,” the survey noted.
