AI training is essential for a profitable refining industry
The impact of AI on refining was the focus of the Downstream & Chemical Fireside Chat entitled Refining in the age of AI: from process optimisation to digital infrastructure development.
Speakers Anant Maheshwari, President and CEO of Honeywell’s Global Regions and Mohamad Ali, Senior Vice President of IBM Consulting explored the benefits of integrating the advanced technology into the industry, and why everyone should make the effort to become trained in how to use it competently.
Maheshwari began by describing how Honeywell uses AI for design and operations tasks such as real-time imaging and data processing.
“The data we gain from AI is incredibly precise,” he began. “Across the world, 800 AI imaging reactors are already being used to capture images 24 hours a day and allow experts to view them in real time. Things like this are changing the fundamental business models that refineries are built on and the way they work. It's not just about improving efficiency, it is about making refineries more profitable.”
“I fundamentally believe that every company, whether you're a manufacturing company or a software developer, will need to cut costs by 10 to 20% by 2030, otherwise you will have trouble staying in business.”
- Mohamad Ali, Senior Vice President of IBM Consulting
He went on to add that AI can also be used to combat emissions and help the sector decrease its carbon footprint. “These kinds of technologies also capture images of the atmosphere around the refineries, and identify emissions that are invisible to the human eye using infrared technology,” he continued.
“This allows us to identify cracks, pinpoint where gases are leaking from, and make better decisions about what we can do to fix these issues as soon as possible.”
However, Ali warned that while it is perfectly possible to get a good return on investment after purchasing AI technologies, companies need to implement it properly and invest in training their employees in how to use it.
“A study by the Massachusetts Institute of Technology states that 95% of all AI projects fail to deliver a return on investment. I can believe this, because a lot of companies are just throwing AI at employees and expecting them to become more productive,” he said.
Commenting on the fact that AI is helping all kinds of companies cut costs, he also added “I fundamentally believe that every company, whether you're a manufacturing company or a software developer, will need to cut costs by 10 to 20% by 2030, otherwise you will have trouble staying in business.”
Acknowledging that a lot of people are concerned about how AI will change the workforce and potentially replace some jobs, Maheshwar noted that AI should be viewed as a tool and a solution to the current shortage of talent in the industry.
“AI is an enabler,” he declared. “I would urge anybody who's still at early stages of their career to be more proactive in using AI tools and learning about them.”
During the concluding Q&A session, Ali highlighted the fact that IBM has committed to delivering free AI training to a million citizens in the Middle East, and that ADIPEC attendees were welcome to contact the team to find out more.
“I think that countries here in the Middle East have a huge opportunity to leapfrog their talents over those in other countries by training them in AI,” he stated.
“I go to some countries where most people are not that interested in AI, while for instance the UAE is hugely invested in it. If a country could get everyone in the population competent in AI, it would immediately put them a few steps ahead.”
