Turning data into chemicals and petroleum insights
How the industry is becoming cognitive
Preparing for cognitive capabilities The global chemicals and petroleum (C&P) industry is undergoing enormous change. Volatile energy prices, reserve replenishment and exploration issues, rising R&D costs, reduced production reliability, manufacturing inefficiency and safety and compliance concerns are causing upheaval in the industry. Cognitive computing is poised to help. But what exactly does it promise the industry, and how can enterprises tap into its potential? We explored these questions using input from 300 C&P executives worldwide. In this report, we look at what a subset of this group’s most financially successful organizations – the “outperformers” – are doing differently with cognitive capabilities and what other organizations can learn from their success.
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