The oil and gas industry is being challenged to cut costs dramatically and be more productive while continuing to grow more complex.
The best way to keep pace with this challenge is to apply fit for purpose technologies to improve current processes. A few of the newest trends in technology – artificial intelligence (AI), robotic process automation, smart contracts and Blockchain – have received much publicity lately for improving productivity in the workplace. While these technologies might seem quite new with all the recent publicity, they have actually evolved over many years and will ultimately play a key role in improving workflow processes. It is important that companies have a good understanding of how all of this new technology will interact with their current systems.
Traditional system programming makes decisions based on a set of defined rules (rule driven decision making). Where there are no defined rules, Artificial Intelligence (AI) can make decisions (predictions actually) by interpreting available data (data driven decision making), essentially mimicking human cognitive functions such as “learning” and “problem solving”. Robotic process automation is based on the notion of AI workers. Smart contracts are less about contracts and more about the transactions or workflows resulting from those contracts that can be performed by software. This is often Blockchain technology, but it doesn’t need to be.
While the new trends can seem quite revolutionary, they can be applied in a more evolutionary manner to better help people adapt and improve their own productivity. Red Dog Systems Inc. was established specifically to help improve joint interest and royalty owner processes in the oil and gas industry by taking an evolutionary approach to technical advancement. Our people-driven solutions have helped transform industry processes for nearly two decades by automating routine transactions and workflows (e.g. coding and analysis) to free up more people time to focus on non-routine activities (e.g. complex coding and analysis).
Join us for a luncheon presentation about new technologies in the Energy Industry titled “New technology – BOTS, AI, Smart Contracts. Revolutionary or Evolutionary?” with Dave Howden, Business Development at Red Dog Systems Inc.
Thursday November 15, 2018 11:30-1:00pm at The Calgary Petroleum Club
Sponsored by EnergyLink and BOEReport.com: