Digital Transformation: Powering the Oil and Energy Sector

By CIOReview | Thursday, May 6, 2021

Hardware and software combined solutions are most relevant developments in the oil and energy sector. Major companies are aware of the security-related specifics of the industries, and have elaborate processes that are diminishing possible vulnerabilities regarding sensitive data.

FREMONT, CA: The oil and energy sector has always been determined adopters of innovative technologies. From oil rig hardware and automated internal operations to equipment monitoring and energy delivery, the potential applications of technology in this sector has always been varied. The latest advances in the IoT, data science, and cloud computing have provided the means to make it all possible.

1. IIoT Dominated Market:

IIoT can be deployed in meteorological equipment for oil rigs. As offshore processes are hugely reliant on weather conditions, an installed smart station can employ multiple sensors to collect data, which can be propelled through the cloud to be analyzed to predict weather patterns.

2. Innovative Solutions:

Many products developed in contemporary times look promising, owing to the viable ideas behind them. For a product company, all starts with hardware inventions, while software development comprises the second stage. Each new development in technology can make the company well-distinguished on the market.

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3. Adoption of Technology:

Large firms in the energy sector have departments that probe into different directions, perform research, and look for sustainable methods to automate their operations. But they do not hurry to utilize innovations on a large scale, due to the cost of error. Before production, the reliability of the products is meticulously tested and verified.

4. Data Science for Smarter Products:

Data science and ML have also received their fair share of attention as it has become quite easy to build a smart solution that collects data from sensors for further processing and reception of the outcome.

5. Connection Issues:

The current solution to poor bandwidth problems is to perform heavy calculations, data processing, and seamless synchronization upon returning to the port. Some areas do offer communication systems with prospects of real-time 4G connections.

6. Everyone Moves to the cloud:

Cloud and other technological stacks are corporate standards for numerous enterprises in business spheres. Cloud adoption will become more relevant than ever when the area finally beats connection issues.

7. Reliability of Operations:

For the oil and energy sector, the authenticity of products and confidentiality of data are absolute necessities as the cost of error is extremely high, and human safety is the primary goal. Another critical factor is the exclusivity of the existing proprietary software within a highly competitive environment, which makes many companies remain hesitant about outsourcing their operating system (OS) development.

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