You’ve no doubt heard about bitcoin, a cyber currency based on a technology called blockchain? Well, there’s so much more to blockchain than currency, and it will eventually have a pretty dramatic impact on aspects of oil and gas. Curious? Read on.
Digital technology is advancing at a great pace, but which technologies could have an outsized impact on the oil and gas sector, particularly the high cost oil sands projects? Canada is a technologically advanced nation, and we’re facing some pretty tough challenges at the moment – all the right conditions for technology adoption.
Here’s my thoughts on five clever technologies with a place in the future of the industry.
Many industries today benefit from applying analytics to their more vexing problems. Examples include life insurance companies who try to predict customer acceptance of new insurance products, retailers who predict the sales of new outlets, cable companies who try out new cable bundles, and food companies who plan menu choices (such as an all you can eat shrimp dinner special) based on expected availability of key commodities (like shrimp).
We're all in a brave new world of digital. Banks are converting us into our own bankers by putting banking apps on smart phones and tablets, airlines are turning us into check in counters, our phones are turning into our wallets and our doctors, our cars are becoming mobile hot spots, we can log in virtually anywhere and anytime on any number of devices. Consumer digital is impacting IT departments everywhere and in every field, from banking, retail, transportation, and the public sector.