Trend-1: Cambrian explosion of vertical AI solvers
More AI companies in 2019 are going to solve
ultra-specific industry problems which are narrow and deep. For example,
Flutura has created specialized drilling efficiency AI apps that reduce
invisible loss time in the upstream drilling process. These are not generic, AI
algorithms; these are deeply specialized to solve a high impact problem.
Why is this important?
As deep learning algorithms become democratized, novel
AI applications that solve a narrow and deep problem become more important than
a horizontal AI platform which needs immense tuning for the industry context.
Trend-2: AI powered business models that create new revenue pools
In 2019, the adoption of the “as-a-service” business
model will accelerate to the point where customers are not obsessed with owning
an asset but instead, consuming a service. For example, Flutura is powering
remote AI powered prognostics as a service where the end customer pays the OEM
per asset per app per month.
Why is this important?
As AI accelerates and the cost of sensors plummet, creating new revenue pools using AI is going to be an even more attractive value proposition. This convergence of trends is going to put the “AI-as-a-Service” business model on an exponential growth curve.Trend-3: AI fades into the background and autonomous operations rise to the foreground
In 2019, we are going to see AI fade into the
background and see more of autonomous equipment which self-learn with its
cognitive abilities. For example, Flutura is working with a large upstream OEM
provider to make 60% of its upstream operations autonomous by 2025.
Why is this important?
This is very important because AI is not just
generating insights to augment operations but is also playing a very active
role in recommending a front line option and executing the same through control
systems. This means higher efficiencies, lower costs and improved safety
conditions in mission critical onshore and offshore operations.
Thoughts?
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