The #AIEYE: #AI and #Automation as an Answer to Energy Consumption and Environmental Sustainability (NYSE: $ABB) (TSXV: $MCLD.V) (NASDAQ: $MRVL) (NASDAQ: $RAVN)

The #AIEYE: #AI and #Automation as an Answer to Energy Consumption and Environmental Sustainability (NYSE: $ABB) (TSXV: $MCLD.V) (NASDAQ: $MRVL) (NASDAQ: $RAVN)

Point Roberts WA, Vancouver BC – April 10, 2019 – Investorideas.com, a global investor news source covering Artificial Intelligence issues a special edition of The AI Eye, looking at how AI will play a significant role in energy consumption and environmental sustainability.

Read this in full at https://www.investorideas.com/news/2019/artificial-intelligence/04101AIEye-ABB-MCLD-MRVL-RAVN.asp

As global population increases and the rate of industrialization across the developing world accelerates, the problems of energy efficiency and climate change loom ominously. One thing that may be able to keep externalities caused by urbanization in check, are emerging technologies like artificial intelligence. A recent report from Technavio for instance, projects that global AI in the energy market will grow by $6.06 billion USD from 2019-2023. An analysis from Frost & Sullivan highlights some of the benefits of this trend. In the analysis, Swagath Navin Manohar, Research Analyst, Energy & Environment, outlines how AI can reduce energy waste in electricity and other sectors by providing better consumption data:

"In addition to making the electricity system intelligent and flexible, AI algorithms help utilities and energy companies understand and optimize consumer behavior and manage energy consumption across different sectors. Meanwhile, complex machine learning algorithms combined with real-time weather data from satellites, ground-based observation, and climate models can be used to forecast the electricity generated by RES like wind, solar, and ocean."

Multinational automation company ABB Ltd. (NYSE:ABB) is already putting some of these ideas into practice with their Industrial AI Accelerator program, aimed at supporting startups using AI to solve industrial challenges. The co-founder of one of those startups (Greenlytics), Sebastian Haglund El Gaidi, explained how working with ABB makes it possible to leverage AI in the service of a more efficient power grid:

“The conversations with ABB helped us realize the different areas where we can combine our capabilities and create technological synergies. Collaborating with ABB will help further develop our vision of tomorrow’s increasingly renewable, distributed and smarter grid. We already learned a lot about not only the technology but also the potential market and customer needs – and that is really important for a startup, especially in a B2B context.”

An article on The Next Web emphasizes the role AI has in identifying patterns in energy consumption data that can be used to better regulate how scarce resources like electricity can be distributed. The piece quotes Henrik Brink, the founder of Ento Labs, a company fighting climate change with artificial intelligence:

“Energy efficiency is the only really direct way of lowering emissions. And according to our initial research, there’s a huge opportunity for lowering emissions. There’s so many low hanging fruits of companies and industries that can be optimized a lot.”

A company applying this insight in a big way is Universal mCloud Corp. (OTC:MCLDF) (TSXV:MCLD), whose AssetCare platform combines AI with IoT and cloud computing technology and has found application in various markets. A key recent development has been the announcement that AssetCare connectivity has been established for the Heiwado Shopping Center in Changsha, Hunan Province, China. Done in collaboration with mCloud partner SCN Ltd., this will see management of the mall’s stores’ HVAC systems using AI and analytics, which will deliver ongoing energy savings, curbing the costly 41 percent of energy currently used by Heiwado for heating and cooling.

Furthermore, mCloud collaborates with Britwind, an affiliate of UK’s Ecotricity, to apply AssetCare analytics to improve wind turbine availability and extend the health of wind turbines in Europe and China, and mcloud is also collaborating with Fulcrum Automation Technologies on a plan to target at least 200 oil and gas assets as part of a greater strategy to access thousands of field assets in North America and the Middle East.

Semiconductor manufacturer Marvell Technology Group Ltd. (NasdaqGS:MRVL) last year demonstrated its AI SSD Controller powered by Deep Learning Accelerator technology from NVIDIA. The related press release stresses the cost-saving features of the tech via “improving efficiency, reducing power consumption, maximizing scalability and optimizing distribution of resources,” Noam Mizrahi, VP of Technology and Architecture at Marvell, said:

“Our advanced AI SSD controller proof of concept solution sets a new paradigm in utilizing available system resources more efficiently, resulting in the scalable, cost-effective data storage expected for all kinds of machine learning tasks."

Raven Industries, Inc. (NasdaqGS:RAVN) reduces operating costs and improves yields using precision agriculture technology. Last year, the company partnered with Dot Technology Corp., an autonomous agriculture platform leader, to “power the autonomous farming solutions of the future”. The Raven tech-based DOT Power Platform “completes tasks autonomously and enables farmers to spend more of their time focusing on the overall operation of their farms.”

So though greater industrialization across the globe creates challenges to energy consumption and environmental sustainability, it also seems to be yielding the very technologies, such as AI and automation that are required to assuage them.

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Investorideas.com Newswire - Old School Industries Utilizing New School Tech; AI and Resource Industries Connect: (TSXV: $MCLD.V) (OTC: $SBGSY) (TSX: $STLC.TO) (TSXV: $AIIM.V)

Investorideas.com Newswire - Old School Industries Utilizing New School Tech; AI and Resource Industries Connect: (TSXV: $MCLD.V) (OTC: $SBGSY) (TSX: $STLC.TO) (TSXV: $AIIM.V)

The #AIEYE: How #AI, #IoT and Digital Tech are Transforming Resource Industries (TSXV: $MCLD.V) (OTC: $SBGSY) (TSX: $STLC.TO) (TSXV: $AIIM.V)

The #AIEYE: How #AI, #IoT and Digital Tech are Transforming Resource Industries (TSXV: $MCLD.V) (OTC: $SBGSY) (TSX: $STLC.TO) (TSXV: $AIIM.V)

Point Roberts WA, Vancouver BC – April 4, 2019 – Investorideas.com, a global investor news source covering Artificial Intelligence issues a special edition of The AI Eye, looking at how new developments in AI, IoT and the digital tech sector are now being deployed in seemingly “old-school” industries such as oil and gas and mining.

As technology progresses forward at a break-neck pace, older and more established industry sectors such as oil and gas, or mining and manufacturing are beginning to realize that utilizing these new technologies is the only way to embrace the future.  BI Intelligence predicts that global manufacturers will invest $70 Billion on IoT solutions in 2020, up from $29 Billion spent in 2015.

Universal mCloud Corp. (TSX-V: MCLD) (OTCQB: MCLDF), a leading provider of asset management solutions combining IoT, cloud computing, artificial intelligence and analytics, recently unveiled its plans to connect oil and gas field workers with real-time access to digital work assistance capabilities using the Company’s AssetCare platform delivered via head-worn, hands-free smart glasses.

Read this in full at https://www.investorideas.com/news/2019/artificial-intelligence/04041AIEye-MCLD-SBGSY-STLC-AIIM.asp

Originally developed to support field workers and maintainers in mCloud’s Smart Buildings and Wind segments, the Company expects to deliver similar capabilities within its recently announced entry into Oil and Gas through its newly-signed three-year global licensing agreement for AssetCare solutions with Fulcrum Automation Technologies (“Fulcrum”). In the oil and gas industry, mCloud estimates there are over 1.4 million field workers operating over 500,000 assets across North America whose roles would benefit from the enhanced productivity and efficiency that would come with hands-free access to AssetCare in the field.

Delivered on smart glasses, mCloud’s AssetCare platform enables workers in the field to get access to the right information at the right time combining the features of an AI-powered digital assistant with advanced 3D and mixed reality. Real-time digital work instructions enable workers to get guidance and verification as they work through complex procedures, ensuring they get jobs done right the first time. Smart work order management capabilities ensure workers focus on those field assets in most urgent need of attention.

In addition, remote assistance, provided through mCloud’s strategic arrangement with Agnity Global enables workers in the field to virtually collaborate with experts in the corporate back-office through a secure, enterprise-grade video and audio link.

“Our ability to deliver AssetCare on hands-free smart glasses lets us dramatically improve the productivity and efficiency of field workers everywhere,” said Dr. Barry Po, mCloud’s Chief Product Officer. “All across the oil and gas value chain, there are opportunities for us to enhance the way decisions are made in the field.”

Schneider Electric S.E. (OTC: SBGSY), a leader of digital transformation in energy management and automation, has recently announced the launch of Schneider Electric Exchange, the world's first cross-industry open ecosystem dedicated to solving real-world sustainability and efficiency challenges.

"Digitization continues to revolutionize the way we work and behave. The world can no longer work in independent silos; the need for better integration and collaboration has unearthed new opportunities and solutions. Schneider Electric Exchange brings together a diverse ecosystem of digital innovators and experts, enabling the co-creation of solutions and enriching learning and speed through collective intelligence. Together this digital ecosystem creates, collaborates, and scales business growth," says Cyril Perducat, EVP IoT & Digital Offers, Schneider Electric.

Stelco Holdings Inc. (TSX: STLC) (OTC; STZHF), the owners of North America's newest and most technologically advanced integrated steelmaking facilities recently announced signing an agreement with Canvass Analytics Inc., a global leader in AI software for intelligent industrial operations to use Canvass's AI platform to transform its steel operations, improve yield and boost productivity.

Alan Kestenbaum, Executive Chairman of Stelco Inc. commented: "As a company that strives to deliver the market's highest quality products in a cost competitive manner, we are continuously looking at how we can operate better. By partnering with Canvass Analytics, we are systematically transforming our facilities into intelligent operations environments and augmenting a digitally oriented workforce in order to take the efficiency of our operations to the next level. Canvass Analytics quickly demonstrated to us the usefulness of AI in certain areas of our operations and the potential of applying AI across our operations in order to increase our profitability and competitiveness."

In the mining sector, Albert Mining Inc. (TSX-V: AIIM), using Artificial Intelligence (AI) and advanced knowledge-extraction techniques since 2005 announced on March 28^th that its technology will be used on Playfair Mining Ltd.’s RKV property (Tynset, Hedmark County area, 295.96 square kilometres), located in Southern Norway, 350 km North of Oslo. A fee will be paid to Albert for applying its CARDS (Computer Aided Resources Detection Software) system using AI and Datamining on the RKV property.

Albert Mining says its objective is to develop a new royalty stream by significantly enhancing and participating in the exploration success rate of mining.

AI is changing the future of the resource sector from agriculture to energy and mining but it also impacts almost all sectors as innovation and demand for efficiency become key ingredients for success.  In Canada and the US, the resource sector is a key contributor the economy, so the old must meet the new or face meeting the fate of the dinosaurs.

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Disclaimer/Disclosure:. https://www.investorideas.com/About/Disclaimer.asp , Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, contents creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Disclosure: More disclaimer info: This article featuring mCloud Corp. is a paid for article on Investorideas.com ( third party)

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Investorideas.com - #Energy Stocks News: Foothills Exploration Inc. (OTCQB: $FTXP) Announces MOU to Acquire ~16,387 Net Acres in Wind River Basin of Wyoming

Investorideas.com - #Energy Stocks News: Foothills Exploration Inc. (OTCQB: $FTXP) Announces MOU to Acquire ~16,387 Net Acres in Wind River Basin of Wyoming

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#Oil and #Gas News- FOOTHILLS EXPLORATION INC. (OTCQB: $FTXP) ANNOUNCES MOU TO ACQUIRE ~16,387 NET ACRES IN WYOMING’S WIND RIVER BASIN

#Oil and #Gas News- FOOTHILLS EXPLORATION INC. (OTCQB: $FTXP) ANNOUNCES MOU TO ACQUIRE ~16,387 NET ACRES IN WYOMING’S WIND RIVER BASIN 

LOS ANGELES, March 26, 2019 – Foothills Exploration, Inc. (OTCQB: FTXP) (the “Company,” or “Foothills”), an independent oil and gas exploration company engaged in the acquisition and development of oil and natural gas properties in the Rockies today announced that it has executed a memorandum of understanding for the acquisition of approximately 16,387 net acres of undeveloped oil and gas leases in the Wind River Basin in Wyoming.

Read this in full at https://www.investorideas.com/news/2019/energy/03261OTCQBFTXP.asp

"We look forward to closing on our second transaction this year, which following acquisition will complement our existing portfolio," stated Kevin Sylla, Executive Chairman of Foothills."  “This intended acquisition will add to our exploration inventory and provide us with prized high impact drilling projects for the future.  The near-term focus is on the geological and geographical delineation of this large continuous position.”

The Wind River Basin contains over 60 large oil and gas fields producing from 17 different geological formations. The leases are located in Fremont County, Wyoming.  The Paleozoic aged section is the primary objective, and the Phosphoria, Tensleep, Madison and Flathead Formations of the Paleozoic have yielded significant oil production in a number of regional fields down dip to the west, updip to the south and along structural trends farther to the west-northwest.

Foothills’ acreage is located in this large undrilled area and is along the eastern flank of a deeper sub basin in the Wind River Basin proper, where a deep structural deposit called the Beaver Creek field has produced approximately 71.7 million barrels of oil and 906,473,338 MCF of gas.  The Big Sand Draw field, updip to the south, has produced some 60.8 million barrels of oil and 214,923,203 MCF of gas from multi-pay horizons generally in the Frontier, Muddy, Lakota, Morrison, Phosphoria, Tensleep and Madison formations.

We currently expect this transaction to close on or about March 28, 2019, subject to the completion of the Company’s due diligence. 

About the Company

Foothills Exploration, Inc. is a growth stage oil and gas exploration and production (E&P) company with a focus on the acquisition and development of undervalued and underdeveloped properties in the Rockies.  The Company’s principal assets are located across well-established plays in the U.S. Rocky Mountain region.  For additional information please visit the Company’s website at www.foothillspetro.com.

Forward-Looking Statements

This release includes ''forward-looking statements'' within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.  Forward-looking statements give our current expectations, opinions, belief or forecasts of future events and performance.  A statement identified by the use of forward-looking words including ''will,'' ''may,'' ''expects,'' ''projects,'' ''anticipates,'' ''plans,'' ''believes,'' ''estimate,'' ''should,'' “could,” “proposed” and certain of the other foregoing statements may be deemed forward-looking statements.  These statements are subject to risks and uncertainties and are based on the beliefs and assumptions of management, and information currently available to management. Although Foothills believes that the expectations reflected in such forward-looking statements are reasonable, these statements involve risks and uncertainties that may cause actual future activities and results to be materially different from those suggested or described in this news release.  In particular, statements, express or implied, concerning our future operating results and returns or our ability to acquire or develop proven or probable reserves, our ability to replace or increase reserves, increase production, or generate income or cash flows are forward-looking statements.  All forward-looking statements should be evaluated with the understanding of their inherent uncertainty.  Factors that could cause the Company's actual results to differ materially from those expressed or implied by forward-looking statements include, but are not limited to: risks inherent in natural gas and oil drilling and production activities, including risks of fire, explosion, blowouts, pipe failure, casing collapse, unusual or unexpected formation pressures, environmental hazards, and other operating and production risks, which may temporarily or permanently reduce production or cause initial production or test results not to be indicative of future well performance or delay the timing of sales or completion of drilling operations; delays in receipt of drilling permits; risks with respect to natural gas and oil prices, a material decline which could cause Foothills to delay or suspend planned drilling operations or reduce production levels; risks relating to the availability, timing and cost of capital to fund drilling operations that can be adversely affected by adverse drilling results, production declines and declines in natural gas and oil prices; risks relating to unexpected adverse developments in the status of properties; risks relating to the absence or delay in receipt of government approvals or third party consents; the Company's ability to identify, finance and integrate recent or future acquisitions; the volatility of the Company's stock price; and other risks described in Foothills' Annual Report on Form 10-K and other filings with the SEC, available at the SEC's website at www.sec.gov.  Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected.  The forward-looking statements in this press release are made as of the date hereof.  The Company takes no obligation to update or correct its own forward-looking statements, except as required by law, or those prepared by third parties that are not paid for by the Company.

Investor Contact

Christopher Jarvis

(424) 901-6655

ir@foothillspetro.com

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This news is published on the Investorideas.com Newswire – News that Inspires big ideas

Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp. Disclosure this news is a paid for news release on the Investorideas.com newswire by FOOTHILLS EXPLORATION  (OTC.QB:  $FTXP). Learn more about costs and our newswire service https://www.investorideas.com/News-Upload/

Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: https://www.bcsc.bc.ca/release.aspx?id=6894  Global investors must adhere to regulations of each country.

Investor Ideas Adds Recent #Nasdaq IPO Stocks- Biotech, China-Asia and Energy Sectors – ($KLDO), ( $INMB), ( $SXTC), ( $MDJH) ( $MTC), ( $NFE)

Investor Ideas Adds Recent #Nasdaq IPO Stocks- Biotech, China-Asia and Energy Sectors – ($KLDO), ( $INMB), ( $SXTC), ( $MDJH)

( $MTC), ( $NFE) 

Point Roberts, WA, Delta BC – March 22, 2019 – (Investorideas.com Newswire) Investorideas.com, a global news source and leading investor resource announces this week’s additions to its global stock directories in biotech, China-Asia and energy.

Investorideas.com is a go-to destination for retail investors and tracks companies in high-profile trading sectors and makes ongoing additions to its stock directories for its followers and members.

Read this in full at https://www.investorideas.com/news/2019/main/03221Stocks.asp

All new additions this week are recent Nasdaq IPO’s and include biotech, energy, and China-based companies.

New biotech stocks are clinical stage biotechnology companies involved in treatments using microbiomes and the innate immune system, respectively.

The latest China stocks include a cross-over into the life sciences sector of our biotech stocks directory, a fintech company and a real estate services company.

The newest energy company is involved in the natural gas infrastructure sector.

New Biotech Companies

Kaleido Biosciences, Inc. (NasdaqGS:KLDO) is a clinical-stage healthcare company with a differentiated, chemistry-driven approach to leveraging the potential of the microbiome organ to treat disease and improve human health. The Company has built a human-centric proprietary product platform to enable the rapid and cost-efficient discovery and development of novel Microbiome Metabolic Therapies (MMT™). MMTs are designed to modulate the metabolic output and profile of the microbiome by driving the function and distribution of the organ’s existing microbes. Kaleido is advancing a broad pipeline of MMT candidates with the potential to address a variety of diseases and conditions with significant unmet patient needs.

INmune BIO, INC. (NasdaqCM:INMB) is a publicly traded, clinical-stage biotechnology company developing therapies targeting the innate immune system to fight disease. INmune Bio is developing three product platforms: two products that reengineer the patient’s innate immune system’s response to cancer and one product to treat neuroinflammation that is currently focused on Alzheimer’s disease. INKmune is a natural killer (NK) cell therapeutic that primes the patient’s NK cells to attack minimal residual disease, the remaining cancer cells that are difficult to detect, which often cause relapse. INB03 inhibits myeloid derived suppressor cells (MDSC), which often cause resistance to immunotherapy, such as anti-PD-1 checkpoint inhibitors. XPro1595 targets neuroinflammation, which causes microglial activation and neuronal cell death. INmune Bio’s product platforms utilize a precision medicine approach for the treatment of a wide variety of hematologic malignancies, solid tumors and chronic inflammation

New China/Asia Companies

CHINA SXT PHARMACEUTICALS, INC. (NasdaqCM:SXTC) is an innovative pharmaceutical company based in China focusing on the research, development, manufacture, marketing and sales of traditional Chinese medicine tablets (the “TCMP”).

MMTEC, INC. (NasdaqCM::MTC) is a technology company in providing access to the US markets on an omnibus and DVP basis. The core business of MMTEC, INC. is to provide comprehensive, Internet-based technology services and solutions to the China local hedge funds, mutual funds, registered investment advisors, proprietary trading groups, and brokerage firms engaging in securities market transactions and settlements globally. We help these financial institutions to accelerate their integration into the overseas market by offering complete suite trading solutions, including services such as fund establishment, issuance, custody, transaction and settlement.

MDJM LTD (NasdaqCM:MDJH) is an emerging, integrated real estate services company in China. The Company offers primary real estate agency services to real estate developers including integrated marketing planning, advertising planning and strategy. The Company also provides real estate consulting services and independent training services on an as needed basis. Currently, the Company’s primary market is the Tianjin Autonomous Municipality and since 2014 the Company has expanded its market presence to other cities including Chengdu, Suzhou, and Yangzhou. Through two major development businesses, Xishe and Xishe Xianglin, coupled with existing core business, MDJM promotes the integration of urban and rural lifestyle services.

New Energy Companies:

NEW FORTRESS ENERGY LLC (NasdaqGS: NFE) is a global energy infrastructure company founded to help accelerate the world’s transition to clean energy. The company funds, builds and operates natural gas infrastructure and logistics to rapidly deliver fully integrated, turnkey energy solutions that enable economic growth, enhance environmental stewardship and transform local industries and communities. New Fortress Energy is majority-owned by a fund managed by an affiliate of Fortress Investment Group

The directories are not meant as recommendations but as a research tool to discover opportunities and trading ideas in a particular sector.

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Investorideas.com is a recognized news source publishing third party news and press releases plus we create original financial content. Learn about investing in stocks and  sector trends  from Investorideas.com with our news alerts , articles , podcasts and videos  talking about cannabis,  crypto,  technology including  AI and IoT , mining ,sports biotech, water, renewable energy and more . Investorideas.com original branded content includes the daily Crypto Corner and Podcast, Play by Play sports and stock news column, Investor Ideas #Potcasts #Cannabis News and Stocks on the Move podcast and column,  Cleantech and Climate Change Podcast and  the AI Eye Podcast and column covering developments in AI. 

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#AI Tech Increasingly Leveraged in the Oil & Gas Industry; (NASDAQ: $NVDA) (TSXV: $MCLD.V) (OTCQB: $MCDLP) (NYSE: $ACN) (NYSE: $RDS_A)

#AI Tech Increasingly Leveraged in the Oil & Gas Industry; (NASDAQ: $NVDA) (TSXV: $MCLD.V) (OTCQB: $MCDLP) (NYSE: $ACN) (NYSE: $RDS_A)

Point Roberts WA, Vancouver BC – February 28, 2019 – Investorideas.com, a global investor news source covering Artificial Intelligence issues a special edition of The AI Eye, looking at advancements in artificial intelligence in 2019 and beyond.

Artificial Intelligence (AI) technology is penetrating many industry verticals in various ways, and the oil & gas sector is no exception. Recent data from market research site Mordor Intelligence reveals that the AI in the oil & gas market will exhibit a compound annual growth rate (CAGR) of 12.14 percent from 2018-2023. And as the technology improves, the array of applications correspondingly increases, ranging from “streamlining the overall production process” to “controlling the wastage across the endpoints”.

Read this in full at https://www.investorideas.com/news/2019/technology/02281AI-OilGas.asp

An instance of a comprehensive AI solution in the space is the collaboration between NVIDIA Corporation (NasdaqGS:NVDA) and Baker Hughes, a GE Company.  A blog post from NVIDIA claims that the two companies’ partnership “spans the operations of oil companies. And it does so using the full breadth of our AI solutions”.

This includes NVIDIA DGX-1 AI supercomputers in data centers for model training; NVIDIA DGX Stations for supercomputing at the desk side — or even on remote offshore platforms where bandwidth is limited; and NVIDIA Jetson AI supercomputers-on-a-module for real-time, continuous deep learning and inferencing at the edge.

More recently, Universal mCloud Corp. (TSXV:MCLD.V) (OTCQB:MCLDP), an AI Analytics, IoT connected asset care cloud solution company, signed a three-year global licensing agreement with Fulcrum Automation Technologies Ltd to deploy the former’s AssetCare platform in the oil, gas, and refining industries, targeted at $15 million USD. According to their website, mCloud’s AssetCare works “through a combination of AI-driven control and optimization, and mobile asset management capabilities delivered on smartphones, tablets, and digital eyewear”. Explaining the platform, mCloud President and CEO Russ McMeekin said:

"We created AssetCare with the objective to serve a diverse portfolio of critical assets. The application of AssetCare in the oil, gas and refining markets presents a strong opportunity for mCloud to broaden its reach, achieve higher margins and address the industry's need for deep energy analytics. mCloud will leverage its Founders' decades of experience working with many of the global Fortune 50 companies in the market and will greatly benefit from Fulcrum's strong presence in the industry."

Accenture (NYSE:ACN), which boasts over 40 years of collaboration with software company SAP SE, recently announced plans to co-develop the latter’s SAP S/4HANA Cloud solution designed to help oil and gas companies significantly cut operational costs and create new revenue opportunities. According to the announcement, the SAP S/4HANA is a: “portfolio of intelligent cloud services that set new industry standards with more transparency into operations and cash flow through cutting-edge technologies including artificial intelligence (AI), mobility and blockchain”.

Frank Westerhof, general manager of Enterprise Platforms at Shell (NYSE:RDS-A), who are providing input for the cloud solution said:

“Delivery of oil and gas industry requirements within SAP S/4HANA Cloud will enable us to accelerate our strategy towards a standard SaaS ERP platform. We are very happy to see SAP collaborate with Accenture to develop these industry requirements, given Accenture’s 40 years of experience in the oil and gas industry.”

And Shell, one of the five biggest oil & gas companies in the world, have themselves had considerable involvement with AI. A report from the Wall Street Journal last year said Shell: “will use technology from C3 IoT and Microsoft Corp.’s Azure to predict when maintenance is needed on compressors, valves, and other equipment; help steer drill bits through shale deposits; and improve the safety of employees and customers. Shell also is using artificial intelligence tools from Bonsai, a company Microsoft bought earlier this year that builds software to help computers run autonomously”.

Like many other industry verticals, AI is advancing in the oil & gas sector with considerable speed and vigor, and even from within the industry, as with Shell.

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