January 9, 2019

Industrial AI Trends and Predictions for 2019




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?

Visit our website to start a conversation with us : www.flutura.com 



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