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How Process Industries Can Catch Up in AI
Article

How Process Industries Can Catch Up in AI

JT Clark, Joakim Kalvenes and Jason Stewart
Boston Consulting Group, 2022
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Editorial Rating

9

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  • Well Structured
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Recommendation

There was a time you could dismiss AI as being experimental, or overly techy for the physical industries of mining, chemical manufacturing, and oil and gas. That time is over. One look at the value AI has unlocked in other industries is all the proof your company should need to give artificial intelligence a chance. This Boston Consulting Group article provides solutions for overcoming some of the most daunting hurdles to AI, along with a brief overview of the benefits your company can expect from applying AI advantages to your industry.

Summary

Most mining, chemical manufacturing, and oil and gas companies have failed to adopt AI, despite its proven track record.

Applying AI to heavy industry’s most vexing problems has resulted in improved efficiency, throughput, and other metrics, along with waste reduction – all to the tune of 15% or more. Continuous process companies can no longer ignore this industry advantage, unless they want their competitors to unlock value while they fall further and further behind.

To capitalize on the AI advantage, your company must gather pertinent data, put that data within reach of the right people and convince the human workforce to embrace change.

You’ve got to get your data in front of the...

About the Authors

JT Clark, Joakim Kalvenes and Jason Stewart are professionals located in the Calgary, Chicago and Los Angeles offices of the Boston Consulting Group.

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