Genius of Things Houston: through the eyes of our business partners
The IBM Genius of Things (GoT) Houston event held on May 8th was an intimate event focused on the Oil and Gas Industry. The day involved IBM, business partners, and client-led sessions. Each presenter spoke in-depth about the power of digital transformation enabled by IoT, artificial intelligence (AI) and machine learning.
While enjoying this wonderfully informative event, I had the pleasure of interviewing some business partners. Each shared their perspectives on the transformation in the space. We spoke about how Oil & Gas companies can sometimes be hardware-focused and, although aware of the importance of their asset data, are at times unable to truly extract its value. We also discovered how each leader partnered with IBM to assist businesses in gaining more efficient processes and cost savings.
Let’s take a look on what these business partners had to say about challenges in the industry, how Watson IoT is transforming the industry, and how Big Blue is helping them win the hearts of clients in this space.
Challenges Facing the Oil and Gas Industry
Andrew “Andy” Scott, Chief Technology Officer of G2 Integrated Solutions, starts by stating, “The challenge that we find is that the client’s organizational structures can be vertical. This creates data silos as different groups deploy solutions that, on their own, have merit. But they don’t address end to end workflows, new regulatory compliance requirements or operational efficiencies” He reminds us that, “In order to see more adoption and advocacy for this transformative technology, we need to make an effort in progressing the industry’s culture and management in understanding the importance of data as an asset. We also need to start leveraging it for fact-based decision-making and showing the impact it can have on business performance.”
Ian Uriarte, the Founder and CEO of Timbergrove, explains that, “In the Oil and Gas industry, innovation happens at the level of the hardware since these are mostly physical processes. So there is a reluctance in adopting software as a true asset. Henceforth, companies are focused more on the expensive physical tools for oil extraction, then the actual software used to manage these tools.”
Thomas Peterson, P.Eng., PMP of OnTracks Consulting, was able to share his insights after walking me through an impressive demo. This demo showcased how Maximo Asset Health Insights connects to the IoT platform and provides reliability engineers with the health score for their assets at any given point. He states that, “in the industry, the biggest challenges for clients often lie in the status of their data, which may have data points that exist within multiple systems with no singular place to view all factors for an overall understanding.” He also adds that often times there’s “the need for an efficient workflow and a deeper need for internal enablement of how everyday users can utilize the systems.”
How Watson IoT is Transforming the Industry
A distinguished Engineer from one of the top leaders and partners in the deepwater drilling industry, remarks that, “From an AI perspective, these IBM WIoT solutions offer more visibility into the analytical portion of the data. They give our clients the ability to capture the experience acquired overtime by the working personnel.” He explains that, “as people transition to different roles or stages of life, we can now continue to leverage their shared knowledge and supplement the AI’s ability to predict and plan for asset failures or downtime.”
Jorge Martinez, a renowned Portfolio Manager at G2 Integrated Solutions, then points out that, “The main concern for our customers is how to best manage their assets’ data and what the following actions would be in order to extract the most necessary insights.” He continues stating that “with IBM’s WIoT and AI solutions, we can now accomplish this task and show the amazing business outcomes of utilizing real data.”
Why Team with IBM?
Maria Rios, President and CEO of Nation Waste Inc., is an IBM WIoT client and was recently named one of Fortune’s Most Powerful Women Entrepreneurs. She states that, “In the topic of changes within innovation and technology, we as leaders are looking to companies, such as IBM, to help us remain at the forefront of progress and be our trusted advisor in building our success in the industry.”
Uriarte relates stating, “Thankfully, with IBM, we can now show and display to these customers what the true value of IoT and AI is through PoCs (Proof of concepts), pilots, and ROI examples of increased profitability.”
Peterson goes on to confirm that “through partnering with IBM, we can now clean up their data, as well as implement and build the solution based on our clients and their vendors business rules (process).”
An overall great event with our business partners
All in all, it’s easy to realize that this event was a hit. We learned details of upcoming and existing technology. Clients and business partners shared success stories. And we got an awesome tour around the Astro’s baseball diamond. GoT Houston 2018 was about tightening the bond of true and loyal partnership between IBM, their BPs, and clients in the world of Oil and Gas. What an event!