He said international oil companies are making significant investments in AI to increase operational efficiency, improve safety and contribute to the transition to a low-carbon future. Minister Puri highlighted how AI is being rapidly adopted across industries and will be instrumental in realizing Prime Minister Narendra Modi's dream of a 'Developed India' by 2047. “Indian Public Sector Undertakings (PSUs) in the energy sector are also using AI and Machine Learning (ML) to improve safety, security and operational efficiency across various locations. “Through advanced tools like demand forecasting, customer analytics and pricing analytics, AI is enhancing the overall customer experience in the energy sector,” the minister stressed.
AI-enabled mechanisms such as deep learning are being used to analyze complex seismic data to identify potential hydrocarbon reserves. Additionally, AI-based prediction of drilling complexities and real-time optimization of drilling parameters has proven effective in improving drilling efficiency and reducing operating costs. Citing the latest research from JPMorgan, the minister discussed the potential of generative AI to increase global GDP by $7-10 trillion over the next three years, which would lead to huge increases in workforce productivity and reshape the global economy.
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