The oil & gas industry continues to be a hotbed of innovation. Activity is driven by digitalisation, the drive to reduce costs and maximise production, and growing importance of technologies such as artificial intelligence, big data, and machine learning. In the last three years alone, there have been over 534,000 patents filed and granted in the oil & gas industry, according to GlobalData’s report on Artificial Intelligence in Oil & Gas: AI assisted CAD. Buy the report here.
According to GlobalData’s Technology Foresights, which uses over 256,000 patents to analyse innovation intensity for the oil & gas industry, there are 40+ innovation areas that will shape the future of the industry.
AI-assisted CAD is a key innovation area in artificial intelligence
AI has a role in CAM as well as CAD. For instance, SolidWorks CAM automatically generates a part’s manufacturing toolpath after design. CAM software uses the CAD models to generate the toolpaths that drive computer numerically controlled manufacturing machines.
GlobalData’s analysis also uncovers the companies at the forefront of each innovation area and assesses the potential reach and impact of their patenting activity across different applications and geographies. According to GlobalData, there are 30+ companies, spanning technology vendors, established oil & gas companies, and up-and-coming start-ups engaged in the development and application of AI-assisted CAD.
Key players in AI-assisted CAD – a disruptive innovation in the oil & gas industry
‘Application diversity’ measures the number of different applications identified for each relevant patent. It broadly splits companies into either ‘niche’ or ‘diversified’ innovators.
‘Geographic reach’ refers to the number of different countries each relevant patent is registered in. It reflects the breadth of geographic application intended, ranging from ‘global’ to ‘local’.
Patent volumes related to AI-assisted CAD
Source: GlobalData Patent Analytics
Leading patent filers in AI-assisted CAD include Siemens, which introduced one of the first AI-driven CAD sketching technologies known as NX™ Sketch. It helps companies to improve productivity and flexibility through sketching in a 3D environment. The tool is part of the Siemens' Xcelerator portfolio, which provides increased levels of automation, opportunities, and insights to companies through digital twins.
With the drive to continue to improve productivity, reliability and safety, more and more companies are expected to use AI-assisted CAD over the coming years. Innovations in the technology help companies to optimise the design process and remove discrepancies.
To further understand how artificial intelligence is disrupting the oil & gas industry, access GlobalData’s latest thematic research report on AI in Oil & Gas.