Last week, Cognite participated in the Offshore Europe Conference which, was themed around accelerating the transition to a better energy future. Data and AI is already a central part of this shift, which was readily apparent in panel sessions, on the show floor, and in many discussions at our booth. So what was top of mind for executives and digital transformation leaders? Here are our three main takeaways and learnings from the show:
1. There’s still a data problem across Asset Performance Management
The challenge of realizing simple access to complex industrial data was felt from top to bottom, with operations managers still frustrated with the lack of a single pane of glass for decision-making to control engineers still fighting the vendor lock-in fight. Today’s digital reality is complex; operators have to make more operational decisions under uncertainty without having made significant progress in applying their data effectively.
Without an efficient way to integrate data into daily decision-making workflows, everyone involved in asset management decisions has had to make tradeoffs between risk and asset performance. Without more comprehensive operational visibility and better predictability, it will be difficult to prioritize efforts to accelerate a better energy future.
What can you do next?
- Read up on and better understand the APM data problem
- Learn how Generative AI enables intuitive, simple access to complex APM data
2. Generative AI is starting to have trust and explainability issues
The shift from Generative AI hype to its practical application is happening at record speed, and with it comes major concerns about how to trust AI output in mission critical workflows. From hallucinations to false positives, deploying machine learning systems in operational environments has always come with mixed feedback. Many operators see the potential of AI but are wary of black-box algorithms and opaque model training methods.
These trust issues are front and center in the report that DNV launched at the conference, covering the opportunities and challenges with deploying AI in the UK energy system. The good news? Data management methods and technology have advanced significantly, enabling more control, clearer data lineage, and greater explainability of AI conclusions and recommendations.
What can you do next?
- Read What you need to know about Generative AI for Industry
- Learn more about Retrieval Augmented Generation
3. Digital Mavericks have earned their place at the decision-making table
As IT/OT convergence continues to accelerate, many organizations struggle to define a proper path forward based on a strategic vision around digitalization, instead leaning into traditional change management and risk mitigation fundamentals. However, the operators making the most progress on their digitalization goals increasingly rely on the vision and expertise from a new class of operations leader, the digital maverick.
We spoke with several of these digital maverick-aligned groups that 1) recognize how data and AI have fundamentally changed operations and 2) operate from a new playbook. They believe change must happen from the data foundation and deliver tangible, quick wins and actual business value. In the long-term, these groups will increasingly influence strategic decision-making for digital platforms.
What can you do next?
- Discover if you are a digital maverick
- Read up on the modern data platform decision-making pitfalls
Now is an exciting time for offshore operators to put their digital strategies into practice, and it will be telling to see how these discussions and themes continue to evolve. Whether you’ve tried and failed already to deploy a modern industrial data and AI platform or want to get ahead of the curve, read more at cognite.com, demo our offering, or contact us to get started.