“Digital transformation can help the Oil and Gas industry tackle the challenges it faces and, in the longer term, create value for all its stakeholders”, states in the foreword of the report Digital Transformation Initiative, produced by the World Economic Forum in collaboration with Accenture.
Here you can read some excerpts from the document:
“Ever since the Industrial Revolution, the Oil and Gas industry has played a pivotal role in the transformation of the global economy, fuelling the world’s demand for heat, light and mobility. Today, the Oil and Gas sector has the opportunity to redefine its boundaries through digitalization.”
“Digital innovation is reshaping industries by disrupting existing business and operating models. But it is also having a profound impact on society, presenting a series of opportunities and challenges for businesses and policy-makers”.
“The Digital Transformation Initiative (DTI) is a project launched by the World Economic Forum in 2015 to serve as the focal point for new opportunities and themes arising from the latest developments in the digitalization of business and society.”
“There is growing consensus that the Oil and Gas industry is on the cusp of a new era, as a second wave of business and digital technologies looks set to reshape the sector, propelled by a series of macroeconomic, industry and technology trends.”
“Digitalization in the Oil and Gas sector has the potential to unlock greater value for industry ($945 billion) than wider society ($637 billion) over the next 10 years. The themes that create the largest impact are Digital Asset Life Cycle Management and Energizing New Energies, which together account for 90% of the value at stake.”
“The World Economic Forum is committed to helping leaders understand these implications and supporting them on the journey to shape better opportunities for business and society.”