The spread of intelligent and connected devices, cloud computing and artificial intelligence is creating exciting new possibilities that are making the energy industry safer, more efficient, and more productive.
As energy companies look ahead to the 2020s and beyond, they face a new set of challenges. A ferociously competitive exploration and production industry in the US means that few are generating free cash flows. Increased production, made possible by digital innovations, is likely to put further downward pressure on world oil prices. Meanwhile, many forecasters think the growth in demand for oil will slow. While demand for electricity grows faster, with the rise of e-mobility creating opportunities for expansion. Pressure from investors, customers, politicians and the public is pushing some to rethink strategies to curb greenhouse gas emissions. The convergence of oil, gas and power businesses is intensifying competition. The industry’s workforce is starting to change, as new technologies create a need for skills and specialisms that are new to the industry, such as data science.
FT Digital Energy Summit USA will gather innovators and energy leaders to consider the opportunities and complexities of disruption throughout the sector, share best practices and lessons learnt in order to foster innovation and help attract new talent. The thought leadership event will explore how energy companies can respond to a fast-changing world, new opportunities and threats. The issues to be addressed will include:
- How can digital transformation strategies help oil and gas address the growing threat to current business models?
- Can digital technology provide a solution for generating profit from unconventional oil and gas?
- In a traditionally risk-averse industry with a multi-generational workforce, how can oil and gas companies compete with digital native companies?
- What is the role of digital in an energy transition towards renewable power?
- Is digital the key to becoming carbon-neutral and achieving business sustainability?