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The global petrochemicals market is poised to grow from $365. 01 billion in 2020 to $429.11 billion in 2021 and to reach $477.85 billion in 2025. A major goal in the petrochemical industry is to run industrial processes at the highest economic performance throughout the life of hardware. AI can help improve process efficiencies and minimize downtime by means of predictive maintenance. It is estimated that AI can save up to 30-40% in operational costs in the petrochemical industry.

How AI Is Transforming
the Oil & Gas Industry

Many prominent players in the petrochemical industry are already utilizing AI in their solutions. For example, Shell uses AI solutions to predict downstream demand, to optimize supply chain and to recommend correct mix of oil for refineries. Many other companies are also using AI for the above mentioned and many other use cases. A major use case of AI for the petrochemical industry lies in modern machine learning methods to reduce emissions and to optimize their pipelines so as to cause minimal environmental damage. AI based methods, due to the fact they can ingest large amounts of data and discover micro patterns, are well poised to tackle such problems which have traditionally been considered quite unsolvable. Up till now, emissions and hazards have been considered a part of conducting business, but AI is well poised to change this trend and advance the petrochemical industry to new levels of efficiency and smartness.

AI Applications

Management & maintenance of oil refineries and oil pipelines is essential for stable production and supply of petroleum products. However, machinery can break in unexpected ways; hence, generally there is focus on ensuring the health of machinery through periodic manual inspections. This is generally time consuming, costly and often involves risks to health and safety of inspectors. In recent years, the paradigm of predictive maintenance has emerged which is based on the principle of using data analytics and artificial intelligence to smartly predict the health of mechanical apparatus and highlight the apparatuses which have sub par health.

Oil exploration and digging can often require putting human engineers and laborers in dangerous scenarios. AI can help reduce this risk to human life by enabling engineers to use a robot that they can reliably control from a remote site. Remote controlled robots have traditionally been used for sensory and exploratory purposes but by virtue of modern AI methods, it is now possible to task these robots to do more than that. For instance, these robots can now pick and utilize a number of effective tools in a useful way thus can be used for repair.

These robots are generally equipped with 2D cameras; a human, however, is generally used to 3D view. Our models help take the 2D view from different camera angles and then construct an accurate 3D view from these samples. Our model can thus provide a more realistic and more detailed view, as seen by the robot, to the engineer, hence, helping her make better decisions. In addition to 3D reconstruction, our AI can help robots navigate autonomously. This can significantly ease the burden off from the engineer who now no longer has to control the low-level actions, but only provide high level directions to the robot and the robot then chooses low level actions accordingly on its own. The robot is connected to a remote server and continuously sends its stream to the server where it is analyzed and any important information that may be discovered is relayed to the engineer as well.