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ArtificialIntelligence (AI) and MachineLearning : With the explosion of bigdata, AI and machinelearning have become increasingly important in innovation. Lastly, we are learning to combine all these tools, techniques, frameworks and methodologies. Open Innovation 2.0 (or
Extracting insights from raw data and making data-driven decisions has now become pertinent to organizations around the world. In fact, businesses driven by data insights and analytics are effectively growing at an average of more than 30 percent every year , and by 2021, they are expected to take $1.8 Final words.
Consequently, like every other sector, O&G is exploring the vast potential of ArtificialIntelligence (AI) applications to increase productivity, boost security, enhance equipment availability, maintenance, and uptime, and enable sustainable operations. This data repository is analyzed by AI algorithms in real time.
In fact, the International Data Corporation anticipates the total amount spent on digitalization globally will surpass $2.1 trillion by 2021. 2 ArtificialIntelligence (AI). 4 BigData. Today’s society generates massive amounts of data.
The Industrial IoT (IIoT), also known as the industrial internet or industrie 4.0 , employs bigdata technologies and machinelearning to exploit machine-to-machine (M2M) communication, sensor data, and automation technologies that are already in place. Industrial IoT.
Leveraging AI, BigData, IoT, and Analytics to boost data-driven decision-making. Research by Gartner suggested that oil and gas CIOs listed AI, machinelearning (ML), analytics, and industrial IoT as the top game-changing technologies in 2021. Digital Transformation Journeys in the Oil and Gas Industry.
The 2021 CIO Survey by Gartner found that 58% of the government sector respondents wish to increase IT investments in cyber/information security, 56% in cloud services/solutions, 54% in business intelligence/data analytics, 41% in process automation, and 36% in artificialintelligence/machinelearning.
The advent of conversational AI and NLP in the form of chat and voice bots has empowered banks to mimic the branch experience at scale with the ability to converse in the customer’s preferred language. Digital and mobile banking building smarter customer service operations.
between 2021 and 2026. Intelligent technology solutions like machinelearning, deep learning, AI, and IoT have shaped smart cities, driving innovation and sustainability in transportation to lessen air and noise pollution, reduce traffic congestion, and increase passenger safety.
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