AI in Oil and Gas Market Size , Share and Trend

The rise of better AI and its potential has led to its growing implementation in the oil and gas sector. AI in oil and gas market was valued at USD 1.4 billion in 2016 and is expected to witness significant growth in the coming years.
Machine learning allows a computer to read, learn, and interpret data without the need for any human intervention processing it through multiple iterations in order to functions accordingly to the specific tasks. Particularly in the offshore oil and gas industry, this allows companies to monitor complex internal operations, detect, and respond to the problem, which may not have been identified by human operators. Data science in AI helps extract information and links pieces of data from the existing data sources to give a comprehensive view of the entire data. This can be used by the offshore oil and gas market for new exploration opportunities and to improve the production from the existing infrastructure.

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