The artificial intelligence revolution is changing the future, much like the industrial revolution before it. The current rate of AI development is captivating, cutting down on information time-lags and creating global interconnectivity that was previously unimaginable. Advancements in AI are coupled with data science just as energy is coupled with movement.
The business advantage of data science today lies in timeliness
The business advantage of data science today lies in timeliness. There are two words in ancient Greek to delineate time: Chronos, or chronological time, and Kayrros, which means an opportune moment.
In today’s fast-paced society, mobile applications and instantaneous communications distribute actionable information in seconds. Satellites orbit the earth, observing and sending images. Transponders signal position, identifying speed and tracking movement. Production reports indicate supply, refinery stocks, and market prices reflect demand. By combining and analyzing such varied forms of structured and unstructured data with the latest techniques and technology, we can bring the insight needed for better and timelier investment decision-making.
Oil and gas is the world’s largest commodity sector, accounting for 15 to 20 percent of the world GDP
Oil and gas is the world’s largest commodity sector, accounting for 15 to 20 percent of the world GDP. It is also the fastest and most reliable form of energy security. Kayrros gathers information industry-wide to compare with internal analytics in an effort to determine future market movements. We are first and foremost energy experts. Our genuine sector expertise ensures that we focus on the most useful data, while eliminating the noise. We operate at the forefront of data technology, working in a real-time world to challenge traditional thinking and create a commercial advantage.
The uses for data analysis are enormous. When a pipeline ruptures in North Dakota, Kayrros can use satellite signals to explore the extent of the damage, getting an accurate read on the thousands or millions of barrels lost. With this information, predictions can be made for the overall effect on production and supply.
Every year over 385 million Chinese citizens travel globally for the Chinese New Year. Industry in the country practically shuts down. When Kayrros analyzes this movement, it can spot a developing pattern in crude production compared to past years to portend the future.
We expect the energy sector to be dramatically disrupted with data and technology
We expect the energy sector to be dramatically disrupted with data and technology. With the speed of AI development ever improving, and satellite signaling growing faster and more powerful, we are at the beginning of a major shift in world markets.
There have been numerous disruptions in huge and stable industries over the past several years. No industry is safe, and the old ways of working are passed over by the giant called technology. Oil and gas is just the beginning. What can advanced analytics do to renewable energy?
Kayrros started in oil and gas because it is in the founders’ DNA. In current times, there is a desire to transition from carbon-intensive energy to renewables that allow societies to live sustainably. The goal is to make a unified field theory of the whole energy sector, from oil to renewables. Kayrros is looking to lead the way in monitoring the renewable energy field, which can be highly variable.
In the future, we can use remote sensing techniques to track the greenhouse gas emissions of industrial processes. Through satellite measurements, we can track the construction work on a wind farm in China that has been finished but is not connected to the power grid. By creating tools that will capture the developed capacity of solar and wind, we could track how much of the installed renewable energy capacity is used globally. And this is just the beginning.