Technology Trap

Modern technological advancements have without question changed and shaped the world we live, but we usually fall into the trap of thinking the technology it-self is the driver of change. It is not!

Technology provides the means by which jobs/tasks can be carried out. Technology gives us new capabilities. In the petroleum industry and even the other industries, the success of any digital transformation strategy has little to do with technology. The success highly depends on adopting business models and applications that are devised to take full ad-vantage of fit for purpose technologies.

These business models are essential parts of a business strategy that yields maximum value. Although, some observes mistakenly relate the success of many businesses to technologies and their digital strategies, the success of these businesses is highly influenced by business strategies/models that are fit for the digital age.

In the petroleum industry, the challenge will always be to identify and apply solutions that improve the investment value and sustainability of their surface and subsurface assets while applying best in class practices, implementing highest standards, managing costs and ensuring safety and security of resources, societies and the environment.

One realizes that the introduction of some technologies brings with it a great hype and possible great confusion. It is very common to hear that some technologies will disrupt certain businesses in a way or another. This clearly implies that organizations need all the complimentary enablers to ensure that their workforce have these technologies eventually impact their business. Many tech savvies, technology providers and even some operators become captivated by the romantic nature of the excessively ambitious predictions of technologies, and they usually detach themselves from real world obstacles which were realized with many new solutions specifically in the O&G domain such as cloud, Blockchain, IoT, AI, VR, AR and others.

Skeptical observers and/or pragmatic decision makers, from the oil and gas industry, will never be looking for an imaginary example in a form of technical paper or a presentation, and will never be inevitably influenced by the hype produced by media or technology providers or few exciting success stories. They will always is ask “How, Where, When, Who, What and Why?”

• What problem will it solve?
• Who wants it and who will pay for it?
• How do we apply it?
• Where and when would we apply it?
• How would people adopt to it?
• How will it help achieving business goals?
• Why do we need it?

There is no doubt that digital trans-formation and technologies have changed our life and business and have facilitated faster and more efficient services and more convenience.

To create a successful digitally transformed business, an organization has to continuously identify business improvement opportunities, customize business models, adopt and improve technologies and solutions. This journey will thrive when industry and organization leaders understand the following topics: 

• Digital Transformation is not about technologies
• Status of Digital Transformation today and a vision of it tomorrow
• The Outlook for Technological Advancements in the petroleum industry
• How Technology is changing the Oil and Gas Landscape
• The role of business leaders in Digital Transformation endeavours
• Knowledge on how to measure progress and when to change direction

Finally, current technologies are built on the culmination of previous technological advances that have been pushed by the advancements in science or pulled by economic forces. Technologies are born and definitely advancing for practical purposes to fulfil a desire or satisfy a need. These desires and needs will introduce even more technologies with potentially new applications to improve a lifestyle or a business model, to solve or avoid a problem or define new solutions.

Industry professionals must not to be overwhelmed by the hypes or excessive promotions of technologies or new big waves, but in-stead, they need to meticulously identify technologies that work and define how they could serve to make their life or business better. 

The Digital Energy Technical Section (DETS) strives to provide its members with the knowledge they require to effectively manage strategic digital transformation endeavours to extract their potential value while avoiding common shortcomings inherited within technologies, their applications and/or associated business models.

If you are already a DETS member, I hope you will become active and help us accomplish our goals; and if you are not yet a member, I ask you to join us so your voice can be heard and your contribution can make a different.

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