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The Largest Oil Inventory Increase In History

The Largest Oil Inventory Increase In History

Oil inventories generally increase in…

Russia Replacing Oil Workers With Robots

In the not too distant future, oil workers in Russia could be supervised by an artificial intelligence program dubbed Cyclops.

Sputnik reports that the program, developed by a state program for funding high-tech research, could also be applied to other industries, including mining, transport and logistics, and financial services, among others. According to one executive involved in the program, it can be implemented anywhere where there are surveillance cameras since they are where the Cyclops gets its data from.

In the oil industry, the Cyclops program will focus on ensuring workers’ safety and preventing staff from straying away from the production cycle, among other things, the organization that was tasked with developing it—the National Technological Initiative—said in a statement.

In more practical terms, the Cyclops program will be able to detect workers without appropriate safety gear, people with unauthorized access to certain facilities, and various safety violations.

The program, according to an NTI spokesman, has already been tested at several oil companies. The development of an industrial version of the Cyclops software package will be completed in 2020,” the spokesman added.

The system was designed by a machine learning and AI company, NVI Solutions, a private business owned by the Institute for Information Transmission Problems.

Russia has been lagging behind other large economies in the adoption of artificial intelligence, but earlier this year Moscow announced a national artificial intelligence strategy that is due to be made public later this month. The first draft of the strategy was developed by Sberbank, Russia’s largest banks and one of the most vocal proponents of AI in banking.

On a global scale, artificial intelligence is playing an increasingly important role in the oil and gas industry alongside automation and other digital technologies. This role will continue to increase as companies continue to work to keep their costs as low as possible.

By Irina Slav for Oilprice.com

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