Plenary Session: The Digital Transformation of Oil & Gas
The evidence is clear that we are witnessing a mass extinction event in the corporate world. As former icons like Sears, Kodak, and Westinghouse have faded into oblivion, new kinds of companies with a new kind of corporate DNA are emerging—companies like Amazon, Tesla, and Airbnb. Companies in the oil and gas industry are particularly vulnerable given the disruptive influence of price volatility, changing energy mix, and HSE concerns. Digital transformation powered by enterprise AI can address these challenges by helping oil and gas companies generate predictive insights at enterprise scale, leading to dramatic improvements in operational efficiency, safety and profitability.
In a penetrating discussion drawing on four decades in the information technology industry, Silicon Valley visionary Tom Siebel, CEO, C3.ai, described both the existential threat and the massive opportunity facing today’s oil and gas companies. Mr. Siebel also described the scope of the joint venture between Baker Hughes and C3.ai, the enterprise-scale AI applications they are bringing to market, and the game-changing benefits they can deliver to the oil and gas industry.
"We are bringing to market the considerable domain expertise, customer relationships, market reach, and experience of Baker Hughes in combination with the software capabilities of C3.ai.”