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Cognitive Computing: Augmenting Human Intelligence To Improve Oil and Gas Outcomes

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The severe downturn in oil prices over the past 3 years has made business transformation complicated for the upstream sector. Early in the downturn, companies were focused on cutting costs and restructuring for future growth. Many organizations are now taking advantage of gradually increasing oil prices to launch digital transformation efforts.

According to the International Data Corporation (IDC) 2018 Oil & Gas Predictions Report, by 2020, 80% of large oil and gas companies will run their business with help from cognitive/artificial-intelligence (AI) agents. The report found that 62% of users say outcomes from cognitive initiatives exceed their expectations.

Cognition quite simply refers to thinking—and cognitive systems such as IBM Watson can understand, reason, learn, and interact with us. Cognitive systems excel at understanding natural language, pattern identification, and knowledge location, and have endless capacity. This allows humans to focus on interpreting, analyzing, and adjusting designs, plans, and activities, and make decisions based on the data provided.

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Cognitive Computing: Augmenting Human Intelligence To Improve Oil and Gas Outcomes

Scott Kimbleton, SPE, IBM, and John Matson, SPE, IBM

01 April 2018

Volume: 70 | Issue: 4

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