5 Reasons to utilise Industry 4.0 and How Industry 4.0 is Revolutionizing Oil & Gas & Chemicals
Today, Digital Transformation is one of the most discussed along with Big Data and Artificial Intelligence. The advanced technologies are projected to be more than US $300 trillion over the next decade. This will enable companies to leverage these technologies encompassing all their value chains. The future of Oil & Gas show challenging times specifically because companies are capital and labor intensive. The most prominent of all of the industry challenges is the oil economy that is impacted by the low oil prices, high exploration and production costs and ever-evolving Supply and Demand. This complex economy forces oil & gas companies into reducing the other costs to the extent possible to respond to shrinking margins partly caused by unconventional resources and renewables. Efficient delivery, on-spec Oil & Gas & Chemicals and ontime delivery requires product and market visibility which in turn requires digital transformation. Implementing the digital transformation in desigm, engineering, operations and maintenance will not only increase and the efficiency but also gurantees the delivery, quality, precise timing and supports portfolo growth.
The Industry 4.0 is more than just a digital transformation. Initially, deployment of Industry 4.0 will benefit the companies that are implementing it while as the transformation continues the transformation will spread latterally and colatterally to encompass and transfrom the whole industry, upstream, midstream and downstream.
The Industry 4.0 enables applications to adopt uniform communications and the uniformity minimizes the overhead through interfacing. Interfacing enables intelleigent, comprehensive and advanced Data Analytics on the Big Data that are gathered from multiple sources globally that each have different formats and are following portocols. This new type of Data Analytics invented a new operational boundary between manufacturing operations management and business planning and logistics.
Security and OPC UA: the time to act is now
To utilise benefits of Industry 4.0 companies need to select OPC UA that is based on established best practices in industry. and is " a platform independent, service-oriented architecture that inegrates all the functionality of the individual OPC Classic specifications into one extensible framework.” Security and open transportation are among the benefits of this unified approach with security being the key feature. The built-in defence in depth security features e.g., proper encryption, strict access and identity management,are required for thrival. here are the features to consider:
- “Direct data transfer to cloud via OPC UA”
- “Utilizes modern communication protocols such as MQTT, AMQP and TSN”
- “Horizontal Integration accross entire company”
- “Removes the heterogenity barrier among devices"
Artificial Intelligence and Industry 4.0
Manufacturers in every industry are implementing AI applications that has started to span all horizontal and vertical areas both macro-vertical and micro-vertical. A clear recipe for success and an ever evolving set of tools is hindering the progress and not for too long. The initial potential are emerging through enterprise sized applications, Data Mining and Analytics. These two core areas along with AI, Edge and CLoud solutions transforms the enterpise into Industry 4.0 precision. McKinsey predicts that AI is here and will disrupt our world and will have a significant impact on the way we work and our productivity.
The market has taken off already; companies have to act now and reevaluate their existing strategies to survive the wave.
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