Bringing XAI to EPC
Mintmesh Corporation
Creator of Rudy, a Digital Platform for the Technical Bid Evaluation Process and Knowledge Management powered by AI
The precise threshold for what counts as artificial intelligence is subject to interpretation. While people tend to use the term AI to describe machines completing tasks once performed primarily by humans, the reference point has shifted, as the domains of machines and humans increasingly overlap.
In what is known as the ‘AI effect,’ humans discount the ‘real intelligence’ with decision-making for a task, once a machine has successfully performed it.?
Organizations that are not traditional tech companies, like those in the EPC industry, are finding value with artificial intelligence and machine learning.?
Automation ? Augmentation ? Decision - Support ?
One of the biggest challenges that the EPC is currently facing is to choose when to choose between Automation | Augmentation | Decision - Support.
Mintmesh Corporation has come up with a super cool decision framework which has a proven result to assist EPC organization to decide from the three approach.
The two variables emphasized on are:
Generative AI and Imaging for Engineers
There’s a rising demand for generative AI programs like Bard by 谷歌 and ChatGPT by OpenAI , which enable users to generate content by inputting data.
The engineering and construction industries can likewise benefit from these technologies, as it makes imaging more efficient for specific projects.
As AI is being adopted into engineering at a rapid pace, it is set to become a market worth $1.3 trillion by 2032 with a compound annual growth rate of 42%.
Empowering Engineers: The role of AI in Technical Knowledge Management
Have you registered for the amazing webinar by the EPC engineers for the EPC engineers?
Sounds exciting, right ?
Chapter 4: Empowering Engineers: The role of AI in Technical Knowledge Management
Date: 7th September'23
Time: 10 am EST (7:30 pm IST)
In this webinar, our speakers, Nitin Kavade and Shammi Apurva , EPC engineer-turned-AI product specialists, will be swapping their tried and tested toolkit for the smart world of AI.
Predictive Analytics and AI: A Match Made in EPC Heaven
Everyone talks about AI, but no one actually elaborates the implementation process.
Discover the transformative role of predictive analytics and Artificial Intelligence (AI) in the Engineering, Procurement, and Construction (EPC) industry.
The free e-book addresses how these technologies like AI & LLM are equipping EPC companies to make data-driven decisions, streamline project processes, and gain a competitive edge in the market.
In simpler words: it's about using smart tech to make EPC projects smoother and more efficient.
领英推荐
Transforming Enterprise Knowledge Management using Large Language Models (LLMs)
In today's fast-paced business landscape, harnessing the power of knowledge is paramount. Explore the untapped treasure trove of historical data within enterprises, especially in EPCs (Engineering, Procurement & Construction), and understand how it can reshape your strategies.
Join us in our upcoming webinar,
Transforming Enterprise Knowledge Management using Large Language Models (LLMs)
Date: Wednesday, October 18th, 2023
Time: 10:00 AM EST (7:30 PM IST)
Keynote Speakers: Sunil Chathaveetil and Selvaganapathy C
Discover
Oceaneering Awarded International Contracts for Offshore Projects Group
Oceaneering International, Inc. announces that its Offshore Projects Group (OPG) segment has been awarded two international contracts, with combined total value in excess of $100 million.
Oceaneering has been named a consortium partner to support transportation and installation work on the Girassol Life Extension project.
The scope of work includes air and saturation diving services, project management, engineering, and procurement activities, in support of the prime contractor’s recovery and replacement of 12 risers.
Having extensive experience in Angolan offshore developments, Oceaneering will provide Angolan personnel for the project and manage the in-country operations of the consortium.
Oceaneering is expected to provide its services in various phases, to commence in late 2023, lasting into late 2025.
Técnicas Reunidas wins $560mln QatarEnergy EPC contract
QatarEnergy has awarded Tecnicas Reunidas additional Engineering, Procurement and Construction (EPC) work including the pipelines, interconnections, ancillary systems, and other supporting components for the LNG Offplot facilities for the North Field South Project.
This award reinforces the relationship between QatarEnergy and Técnicas Reunidas which is currently executing the EPC works for the expansion of the Condensate, LPG, and MEG storage, distribution, and associated facilities for the North Field Expansion Project.
Tecnicas Reunidas is also executing the EPC works for the Sulfur Handling Facility for the North Field Expansion Project in a Joint Venture with Wison Engineering Ltd.
The scope of the project also includes the commissioning of LNG Tanks, an LNG loading berth, BOG compressors, and associated equipment.
Total contract value is around 560 million USD.
Wood & Harbour Energy Agree New $330M Strategic Partnership
Wood and Harbour Energy (Harbour), the UK’s largest oil and gas producer, have entered into a new strategic partnership for UK North Sea operations agreeing a new master services agreement (MSA) and associated contracts valued at around $330 million.
Under this new agreement, Wood will provide engineering, procurement and construction (EPC) and operations and maintenance (O&M) services, including digital and decarbonisation solutions, for a number of Harbour’s offshore assets critical to UK energy security.
Steve Nicol , Wood’s Executive President of Operations, said,
We are incredibly proud to have been selected and trusted by Harbour Energy to partner with them across their North Sea assets. We share a commitment to ensuring safe, reliable and sustainable energy production and are confident our integrated digital solutions and world-leading engineering, operations and decarbonisation expertise will enable Harbour to maximise their investment and ensure the UK continues to have the energy mix it needs.
Audrey Stewart , Harbour Energy’s Vice President of Supply Chain, said,
Harbour is excited to develop our relationship with Wood and the signing of this contract is an important step forward in establishing our suite of long-term strategic partnerships across our North Sea assets. This partnership will support the employment of hundreds of people from Wood’s Operations business in Aberdeen and offshore across the two EPC and O&M contracts, with further recruitment expected in 2024.