Beyond Extraction

Beyond Extraction

Beyond Extraction: How AI is Set to Disrupt the Energy Industry

Artificial intelligence has transformed the extractive industries, and this dramatic change is clear to observers from [Energy Considered and] across the energy sector. The extractive and energy industries are closely interrelated, so how long will it take for the energy sector to undergo a similar transformation?

Many of the AI use-cases in the extractive industries clearly have immediate potential to disrupt the energy sector: generative AI can suggest process improvements; autonomous vehicles can gather and respond to environmental data; data analysis can provide forecasting and risk assessment; and large language models can reduce the need for human intervention.

How soon are we likely to see AI disrupt the energy industry? [Energy Considered] research suggests that companies have to be prepared to manage some aspects, such as faster decisionmaking and changes in human resource requirements, before 2030. Overcoming early challenges to AI adoption, such as setup costs, data quality, security concerns and – perhaps most importantly – cultural resistance, will set the conditions for even greater disruption after 2030.

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  • Extended editorial briefings with in-depth analysis and empirical data drawn from 5,000 of the world’s most influential commentators on the energy industry on key issues shaping the energy sector.
  • Monthly and quarterly data identifying and tracking how energy industry leaders are engaging with critical topics.
  • In depth research explaining why energy industry leaders are engaging with these key issues and providing the context and framework for further exploration.
  • Quantitative primary research conducted with responses from energy industry leaders on our panel, providing unique answers to the issues affecting the global energy industry.
  • Power BI dashboards offering dynamic exploration of 5,000 energy key opinion leaders, social and digital narrative analysed against 14 strategic and tactical energy industry metrics.
  • Expert interpretation of what these issues really mean to the industry and what decisions can be taken on the back of unprecedented empirical evidence.
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Beyond Extraction: How AI is Set to Disrupt the Energy Industry - Quarter 4 2024

Case for tracking:

Given that we were only tracking AI and robotics in Digital technologies, I have drilled down a step further to just focus on AI, expanding the scope to AI for data analytics and BI, GenAI, other LLMs, and prediction models. Although there are no specific AI algorithms or types of transformers that stick out, there are some interesting use cases especially in the primary sectors such as fracking and mining, where prediction and detection using AI help cut costs and enhance safety.

While it may seem like a general and obvious topic to track, the scope of picking up something new and radical is worth considering, especially when it is a field with a lot of noise and constant change. As we move into the age of optimization and accessibility to information like never before, energy companies have started relying on big data and the power of AI to maintain corporate reputation and to stay ahead of the competition.

Volume of Mentions from Energy Considered’s Key Opinion Leaders:

Unlock Full Access to this Insight

To continue reading this briefing and explore deeper insights, register for access to our Energy Insights Portal. Inside, you’ll find:

  • Extended editorial briefings with in-depth analysis and empirical data drawn from 5,000 of the world’s most influential commentators on the energy industry on key issues shaping the energy sector.
  • Monthly and quarterly data identifying and tracking how energy industry leaders are engaging with critical topics.
  • In depth research explaining why energy industry leaders are engaging with these key issues and providing the context and framework for further exploration.
  • Quantitative primary research conducted with responses from energy industry leaders on our panel, providing unique answers to the issues affecting the global energy industry.
  • Power BI dashboards offering dynamic exploration of 5,000 energy key opinion leaders, social and digital narrative analysed against 14 strategic and tactical energy industry metrics.
  • Expert interpretation of what these issues really mean to the industry and what decisions can be taken on the back of unprecedented empirical evidence.
See our Solutions Get in Touch

Please to access exclusive research and data-driven analysis.