Data Capital podcast: Can data and AI transform the oil and gas industry?

In the fourth episode of The Scotsman's Data Capital series, we discuss how data and artificial intelligence can re-shape traditional energy businesses for the future - at a time when they are under intense pressure.

Drilling down into the detail are Barry Walker and Sam Netherwood of Accenture Applied Intelligence, who examine how data and AI are helping oil and gas companies make much smarter decisions about their businesses.

Barry Walker sets the scene by highlighting fundamental changes in the business world: "When we think about the challenges energy and resources companies face, let's first think about their position in the top ten global companies back in 2009 - there were 4 energy companies. Move forward 10 years and 8 of the top 10 are data-led businesses - and resources companies have dropped out of the list."

He also explains about the smart use of data: "How can you marry this proliferation of more data and more information, all of which we cannot possibly read or understand, into small nuggets of information that can really change the way you think about something?"

Picture: Shutterstock

Sam Netherwood talks about the cultural change needed to embed smart data use in traditional businesses. He says: "Very few technologies and algorithms on their own can deliver the scale of change needed. We need the right data foundations and capabilities, the right behaviours and a data culture to really unlock the potential we have."

And he urges businesses to make change real - not just scratch the surface: "Changing behaviour is about creating conditions in which people can be incentivised to act with data differently - it's not just about training programmes and branded mouse-mats."

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