The standard AI application will become ubiquitous. Machines will begin to understand the associated factors and generate value on their own. This new integration of AI requires action on the part of certain industries.
In 2020, global trends in the field of artificial intelligence will continue to influence metallurgy, as well as the mining, oil, and gas industries. Accelerated growth of the AI market is expected over the coming year. De facto, a huge opportunity for reducing costs and optimizing the industrial process emerges. Growth forecasts for AI markets vary between a cumulative annual growth rate (CAGR) of 31% to 54% for subsequent years.
To date, the global AI market volume stands at $ 15 billion, but growth forecasts show that it will quadruple to reach $ 72.5 billion by 2025. The digitization of industry sectors is going to continue and various technologies of the future will turn into commodities. The standard application of artificial intelligence course in Bangalore will become ubiquitous. Machines and systems will begin to understand the associated factors and generate value on their own. This new integration of AI covers all sectors and requires action from certain industries. This is the only way for them to remain competitive in the future.
Industry sectors refused to invest, despite successful early cases of AI introduction
Given the huge technical debts affecting the heavy industry, the main players have made significant investments in the introduction of the most advanced AI technologies. Successful start-ups in mining, metallurgy, oil, and gas have demonstrated the true potential of AI. As an example, Big River Steel in the United States has used AI to increase its profits in the metal industry. To reduce costs, the company has relied on demand forecasting, optimized management of supply and material and technical resources, as well as optimized production. The Renard diamond quarry in Quebec has developed an intelligent waste sorting and recycling system that improves quality and quantity during the diamond mining process. The overall cost savings from introducing AI at an early stage, savings confirmed by industry sectors, have demonstrated its potential. Despite these promising use cases, most decision-makers still refuse to make investments. We are not witnessing the democratization of AI and its rapid introduction to heavy industry.
Industrial companies work closely with technology giants for the introduction of AI solutions
Due to their lack of qualifications, industrial companies seek to collaborate with leaders in the Information Technology sector. Nearly 40 of the largest oil and gas companies have used the Microsoft Azure cloud computing service to promote AI-related projects. Large companies energy companies are seeking help from tech companies to meet their AI needs. Exxon Mobil asked IBM to develop a more realistic model of artificial intelligence course in Bangalore. BP uses Amazon AWS for its business management system, to increase system reaction speed by 40%. Schneider Electric uses machine learning capabilities to remotely manage oil and gas industry pumps using Microsoft. Total oïl has concluded a contract with Google Cloud to create an earth structure data analysis system that improves exploration and mining processes. Royal Dutch Shell uses artificial intelligence for its unmanned vehicles and robotics. Shell used Microsoft to develop AI and machine learning in exploration, mining, processing, and marketing work to improve its operational performance.
The main objective is cost savings
The main objective of artificial intelligence course in Bangalore being the saving of costs, it is above all appreciated under this precondition. According to McKinsey forecasts, over the next decade, the economy in the oil and gas sector will be worth $ 50 billion. Machine learning and AI applications create the preconditions for this prediction.
For the oil and gas industry, the low prices of 2019 are a driving force. Therefore, reducing production costs will provide any business with a competitive advantage. Preventing blowouts and reducing drilling costs will allow them to get a cheaper barrel of oil. Technical maintenance and early detection of pump failures will help avoid equipment downtime that sometimes lasts several weeks. The costs of repairing fortuitous failures are usually in the millions of dollars.
Hyper-automation covers absolutely all processes in the company
Two of the biggest trends for 2020 in strategic technology in the Gartner report are in the industrial sector. Some of these prospects seem distant, others are close to us. Today, competition is fierce in the industrial sector and every advantage obtained is carefully analyzed. Ignoring trends can be a big problem for businesses. Since learning and spreading the introduction of artificial intelligence takes a long time, any delay in taking action in 2020 should be taken into account with great care.
Transformation of personnel into a workforce with superhuman capacities
Increasing human capacities will enable staff to listen, see, and smell better. The efficiency of his work is increasing because he has access to an increased volume of information. The physical increase in capacities directly transforms the physical capacities of the employee. Thanks to these improvements, the worker can transfer, lift, or integrate. The men of this new generation, younger, will have fewer prejudices about the increase in their bodies because in private they will not be affected. Today, consumers are very much linked to their smartphones and the wide possibilities offered by their environment, such as, for example, intelligent voice assistants, which are already widely used. This entourage, even more, active and more extensive, in the years to come, will be accepted by all.