The OGC (Oil, Gas, and Chemicals) industry has witnessed turbulent times in the last few years due to disruptions in demand and supply. The prevailing dynamic business environment forced enterprises across the OGC industry to double down on digital transformation initiatives across the value chain. This would help companies become agile and future proof to deal with any possible disruptions in the future.
There is an increased adoption of technologies such as Engineering Data, AI, and Digital Twin in the space intended to drive green outcomes, improve operational efficiency, eliminate unplanned downtime, improve safety, and reduce overall costs. Significant investments have also been made in Advanced Analytics to improve demand forecasting , top line/bottom line, asset monitoring, and increase overall efficiencies.
To survive in such a competitive environment, it has become imperative for industry leaders to stay abreast of the latest developments in the relevant technologies.