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Title: TECHNOLOGIES THAT ARE SHAPING THE OIL & GAS INDUSTRY
Author: Julian Sanchez
Source: 2022 Appalachian Gas Measurement Short Course
Year Published: 2022
Abstract: The Oil & Gas industry is not known for its tendencies to embrace new technologies quickly. On the contrary, we continuously see multiple reports and world-wide industry analysis coming out of companies like McKinsey or Forrester that show how Oil & Gas is consistently the last industry vertical when it comes to digital maturity. In a way this tendency can be understood since Oil & Gas is an industry very much focused on physical goods, and improvements in equipment, processes, and people skills typically yields a greater return than the adoption of new digital technology by itself. Unfortunately, this tendency to leave digital technologies for last has become a collective badge of honor rather than a recognized area of improvement. The default mode of operation has always been to not keep an eye on new technologies unless competitors implement that technology first. As a result, nobody ends up adopting new technology for long periods of time. This mindset may have worked for the last few decades, but we need to be prepared for an abrupt awakening. Lets take a quick look at the pace in which new technology has been adopted throughout history. A good indicator to reflect the speed of adoption is to measure the time it takes for a new technology to reach 50 million users. It took 62 years for the automobile to reach 50 million people from the time of its invention in the 19th century. It took 50 years for the telephone to reach 50 million adopters while mobile phones only took 12 years to reach the same amount of people. The internet took only 7 years to reach 50 million users. Facebook took 4 years. The game Pokemon Go only needed 19 days to reach 50 million users.

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