Gearing Up For Digital Transformation
The oil and gas sector (including producers, refiners, retailers, field services, regulators, and suppliers), is undergoing a major transition as it struggles to embrace digital innovation. The last major technology shift in the industry took place at the turn of the century with the mass migration to enterprise resource systems such as SAP. Today, the industry is again competing for scarce resources capable of helping with the digital transition, acerbated by the challenge that digital technologies are democratic, inexpensive, and applicable to virtually all industries.
Technologies like the internet of things, machine learning, artificial intelligence, robots, cloud computing and gamification are becoming mainstream in oil and gas, and in many other industries. Digital is one of the few tools that allows whole industries to address cost, productivity, and sustainability challenges simultaneously. These digital technologies are driving a profound wave of change and transformation across the industry, from upstream to downstream, finance to operations.
The key shortage in oil and gas is one of talent. There is simply not enough digital leadership or digital execution skills available to satisfy all the demand. You will not be able to hire the skills required either quickly enough, or in sufficient volume to fill your digital agenda. You will need to equip your existing talent with the skills they need to be successful.