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Oil and gas 4.0 will transform our business, benefit people: ADNOC CEO

"Our ambition is to extend technology's power across our entire value chain from drilling platforms to trading platforms."

Artificial Intelligence, Big Data and the Blockchain are shaping Oil and Gas 4.0, which Dr Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO, believes will make the oil and gas sector more efficient, more productive and create greater value.
"At the core of Oil and Gas 4.0 is a basic truth," Dr Al Jaber said. "While advances in technology are impacting every industry, it is time to really focus on how it can evolve the oil and gas industry. The oil and gas industry must think differently, embrace disruption and step out of its comfort zone.
"At ADNOC, we believe Artificial Intelligence, Big Data and the Blockchain will enhance our operational efficiency, maximize our performance, drive our profitability and empower our people. Meanwhile, predictive analytics will significantly reduce our operational costs.
"Our ambition is to extend technology's power across our entire value chain from drilling platforms to trading platforms."
World-renowned economist Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, explains in his book titled 'The Fourth Industrial Revolution' that "we have an opportunity to shape the 4th Industrial Revolution, which will fundamentally alter how we live and work."
He wrote: "Artificial intelligence is already all around us, from supercomputers, drones and virtual assistants to 3D printing, DNA sequencing, smart thermostats, wear able sensors and microchips smaller than a grain of sand. But this is just the beginning: nanomaterials 200 times stronger than steel and a million times thinner than a strand of hair and the first transplant of a 3D printed liver are already in development."
The Fourth Industrial Revolution, says Schwab, is more significant, and its ramifications more profound, than in any prior period of human history.