The intelligent refinery
June 5, 2018
The next evolution of value for refineries? The Intelligent Refinery, where human and technologies like artificial intelligence (AI) combine for the best results. This applied intelligence can fuel growth and value, but the industry is still trying to determine how to get there.
Five trends depict where companies are on their journey to becoming an Intelligent Refinery—and what they can do to speed it.
of gains in market capitalization by adopting a more systematic combination of digital technologies – what we call “Industry X.O” approaches[i]
of refiners are realizing $50 million or less in value from digital technologies*
Digital is key to oil companies optimizing cross-value-chain decisions to grow margins. Digital commercial optimization needs to happen at scale and speed to create competitive advantage. Oil companies also need to combine digital technologies to improve their impact. Reskilling and redeploying the refining workforce is crucial for future competitiveness and achieving transformational value.
Companies should be aiming for a digital reinvention of their businesses where they use advanced digital technologies to transform their core operations, their worker and customer experiences and ultimately their business models. It involves making sure the right technology combination is being harnessed by industry to both lower costs and drive top-line growth.
Learn more about the intelligent refinery1How Manufacturers Can Get Faster, More Flexible, and Cheaper