Artificial Intelligence (AI) supports the oil & gas industry in myriad ways, including asset tracking, predictive analytics, data management, etc. Oil & gas operations generate massive amounts of data—up to 2 terabytes daily in some cases. Human analysis can only uncover so much, leaving numerous opportunities in the shadows. By deploying AI software tools, these disparate data can be used to bring new insights to light. These tools can identify drilling opportunities, streamline processes, enhance workplace safety, and optimize performance.
The manufacturing industry is in the midst of a transformative period. Technological advancements are enabling unprecedented operational efficiencies and revealing previously hidden revenue opportunities. At the same time, manufacturers must contend with the baby boomer exodus, curb rising cyberthreats, and meet climate regulations.
Industrial machinery suppliers are faced with the tall task of pushing the innovation envelope, while keeping production costs at bay. Customers require machines that unlock new use cases, but at the same time don’t necessitate significant training time for employees. To strike this balance, suppliers should strongly consider the adoption of immersive engineering solutions powered by Extended Reality (XR) hardware. As ABI Research already pointed in a recent blog post, cloud-based XR platforms foster greater collaboration between engineering and design teams, reduce error rates, and accelerate the design review process.
Immersive engineering is a game-changer for industrial machinery suppliers as they aim to enhance quality and productivity, while reducing costs and their carbon footprint. Their customers, who cite machine performance improvements as a top priority, have increasingly required new tools and products as they tackle recent headwinds such as COVID-19, worker strikes, and safety recalls.
The Delaware jury's decision in favor of Qualcomm marks a pivotal moment in semiconductor industry licensing practices. Several key elements drove this outcome. Technical testimony proved crucial, particularly Dr. Annavaram's clear distinction between architecture licensing and implementation, showing only 1% commonality between Arm RTL and actual implementations. This technical clarity helped separate Arm's legitimate Intellectual Property (IP) rights from overreach in claiming ownership of independently developed innovations. The evidence of Qualcomm's substantial investment—US$1.4 billion for the NUVIA acquisition and maintaining a 300-strong engineering team—demonstrated genuine independent development, rather than mere IP exploitation.
According to the International Labour Organization (ILO), workplace accidents result in 330,000 deaths every year. At the same time, the U.S. Bureau of Labor Statistics reports that fatal work injuries are on the rise in the United States. These unfortunate statistics highlight the need for a robust safety strategy. Environmental, Health, and Safety (EHS) software has emerged as a promising technology to reduce employee risks. Safety managers in industries such as oil & gas, chemicals, mining, automotive manufacturing, and steel production are especially interested in EHS software solutions, given the hazardous nature of their work environments. These companies require safety-related data to be easily accessible for further analysis. As a result, potential sources of accidents get evaluated, staff are alerted proactively of these dangers, and the overall number of incidents can be reduced.
The International Manufacturing Technology Show (IMTS) 2024 marked another milestone in innovation, with exhibitors showcasing advancements across robotics, Artificial Intelligence (AI), data integration, cloud computing, and more. The usual big names were there to show the world what they’ve been up to, but they were accompanied by smaller startups hoping to make a big splash. The technological breakthroughs on display in Chicago this year embody the innovative spirit the manufacturing industry requires to address an aging workforce, increased demand, and supply chain complexities.
Working in a competitive industry demands that you become a data-driven organization. As a technology solution provider, effectively leveraging data can unlock significant advantages, such as driving market expansion and fostering innovation. Unfortunately, all too many companies lack an analytical approach to decision-making.
As the manufacturing landscape continues to evolve, companies are increasingly looking toward technology to bolster their operations and overcome emerging challenges. To better understand the attitudes, adoption rates, and pain points manufacturers have regarding technology, ABI Research conducted The State of Technology in the Manufacturing Industry survey.
ABI Research forecasts that aerospace manufacturers will spend US$33.6 billion on digitalization in 2024, ballooning to US$53.8 billion by 2034. This increase in digital spending represents an enormous opportunity for technology suppliers to offer solutions that can increase production volume, reduce carbon emissions, provide operational visibility, and test new product designs. The Dassault Systèmes, PTCs, and Siemens of the world will be critical facilitators of digitalizing aerospace operations, enabling firms to optimize their entire value chain and meet surging demand.