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It is no news that Artificial Intelligence (“AI”), interchangeably referred to as Machine Learning, has come to stay and is positively penetrating all aspects of human labour, particularly in spaces where the use of machines can augment (but not necessarily replace) human intelligence. The increasing adoption of AI across industries boasts of a fresh frontier in human advancement as well as a boost for businesses all over the world.
According to a study by Pricewaterhouse Coopers (PwC), approximately $16 trillion will be added to the worlds Gross Domestic Product (GDP) between now and 2030 on the basis of AI. As AI affects all industries and sectors, the Oil and Gas industry is not left out. This article appraises the application and efficacy of AI in the Oil and Gas industry, investigates the prospects of AI in the industry in Nigeria and identifies possible areas for improvement in the adoption and use of AI in the industry.
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