Investments are focused and targeting value
Oil and gas companies are investing in digital based on the value that can be delivered in both the short and long term. Today, the largest portion of digital investments are targeting mobility, the Internet of Things (IoT) and cloud. Over the next 3-5 years the majority of the investments will shift to focus on Big Data/analytics and IoT with the largest percentage increase on emerging digital technology areas such as robotics, wearables and artificial intelligence.
Oil and gas companies are focusing their digital investments on areas where they see tangible business value. In the short term, given the low oil price, oil and gas companies are focusing these investments on areas that deliver more immediate benefits in cost reduction. This includes lowering the cost of operations through increased worker productivity with mobility, lower infrastructure costs through the use of cloud and better asset management through analytics. Over the next 3-5 years, investments are expected to shift to focus on areas that deliver the greatest long-term value, such as more comprehensive predictive operations management capabilities.