The revolution in automation, sensors, algorithms, artificial intelligence, and cloud computing has redefined the impact of data on operations

How will the huge opportunities, presented by artificial intelligence, automation and data processing, drive efficiency, agility, and innovation? What will be the implications for business models of the future?

This was the theme of an insightful panel discussion that I was invited to be part of at this week’s Gastech2021.

Moderated by @Arthur Hanna, I was joined by industry peers @Peter Weckesser, @Arno Van Den Haak,?@Charles Cessot and @Damian O'Gara on the panel.

My top-three takeaways from the discussion are:

• ?The digital transformation promotes outcome-based solutions, where customers pay for the output – the service or value they receive, rather than purchasing an asset.
• Security is no longer a nice-to-have feature but a necessity; therefore, every product must have in-built security.
• Digital talent is in high demand but short supply. We need to focus on both, attracting the next generation of talent while continuously upskilling our existing team to equip ourselves for the future. ?????

?A candid and forward-looking discussion, with unanimous agreement that digital transformation will have wide-scale impact on the business models of the future.

Accelerated by the pandemic, leaders are embracing new ways of working; customers are defining value as outcome-based services; democratization of the global supply chain; embedded cybersecurity; evolving skill sets; and the need for cleaner sustainable energy sources – that’s the future of the industry. ???

In my mind, there is no doubt that in ten years’ time, the energy and industrial sectors will be faster, cleaner, and safer. Plants and operations will run with minimal outages; remote working will be dominant, and industries will be accelerating towards #net-zero. Systems will be optimized, costs reduced, problems predicted and fixed before they can take place.

At Baker Hughes, we see two forces accelerating this already rapid transformation:

1.????Covid has had a seismic impact on working cultures, supply chain operations and consumer demand. It has supercharged how technology is being used, particularly in remote operations, and we expect this will continue. ???

2.????The increasingly frequent natural disasters driven by changes in the climate. These compel us to accept the fact, that everyone needs to act - make deliberate changes and do so, fast.?

Baker Hughes has been monitoring these trends and investing in new #digital technologies for several years. We are working on innovative projects, combining our deep engineering expertise with the power of artificial intelligence, automation, and data processing. These technologies are delivering solutions for the #energy and #industrial sectors in three key areas: remote operations, industrial asset health and reliability, and assisting the #energytransition.?

Baker Hughes has been agile in how it has developed this capability; we both, develop and incubate our own technologies in our technology centers, and partner with specialist start-ups, as well as world leading businesses, as seen in our BakerHughesC3.ai and Microsoft alliances. We are designing and manufacturing technologies that can be applied for industrial energy applications like #hydrogen, #energy storage and #CCUS.?We have also made a series of strategic acquisitions, including ARMS Reliability, a leading provider of asset performance management services and Compact Carbon Capture (3C), a pioneering technology development company specializing in carbon capture solutions.?

Overall, we are constantly innovating to support the immediate challenges of today, while preparing and investing to help our customers transition to the business models of the future.

We believe that artificial intelligence, automation, and digitalization are fundamental to the future of energy and industry; and that these technologies will provide solutions for the toughest challenges in these sectors.

How can we collaborate to achieve our shared vision? Let me know how I can help. In previous posts, I’ve shared tangible examples of what we’re doing in these important areas:

1.????Remote operations services: Remote Operations at a Turning Point: New Interest, Continued Innovation

2.????Industrial asset management: Today’s digital transformation has its origins in the demand for data

3.????The energy transition: With information and insights, we are helping customers take action to address climate change

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#WeAreBakerHughes?#DigitalTransformation,?#EnergyForward, Gastech 2021