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Wednesday, 27 May 2015 00:50

IBM’s Watson enhancing decision-making for resource giant Featured

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IBM’s cognitive computing system Watson will be deployed by oil and gas company Woodside as part of the resource giant’s strategy to use predictive data science to leverage more than 30 years of collective knowledge and experience as a leading liquefied natural gas operator.

Woodside Senior vice president strategy, science and technology, Shaun Gregory, said Watson would also be used to maintain a strong competitive advantage.

Delivered via the cloud, the cognitive advisory service - ‘Lesson Learned’ – scales the knowledge of engineers making insights and information quickly accessible to a wide group, with the potential to lead to faster resolutions, improved process flow and operational outcomes.  Lesson Learned will enable Woodside’s engineering teams to ask complex questions in natural language.

Woodside Senior vice president strategy, science and technology Shaun Gregory said allowing a broad population of employees to leverage this knowledge will enhance Woodside’s collective expertise in designing, fabricating and constructing major oil and gas facilities as well as managing major turnarounds.

“We are bringing a new toolkit to the company in the form of evidence based predictive data science that will bring down costs and increase efficiencies across our organisation,” Gregory said.

 “Data science, underpinned by an exponentially increasing volume and variety of data and the rapidly decreasing cost of computing, is likely to be a major disruptive technology in our industry over the next decade.

"Our plan is to turn all of this data into a predictive tool where every part of our organisation will be able to make decisions based on informed and accurate insights."

“Here in Australia IBM Watson is transforming how banks, universities, government and now oil and gas companies capitalise on data, helping them discover completely new insights and deliver new value,” said Kerry Purcell, managing director, IBM Australia and New Zealand.

“In any area where knowledge professionals are working with an ever-increasing volume of data, Watson is fundamentally changing how these organisations operate, make decisions, drive growth and gain competitive advantage.”

Just over four years since IBM began commercialising Watson, the company says clients and partners across 25 countries and more than 20 industries now have active projects underway, using Watson to expand expertise and advance decision making.

Other applications of Watson, including in Australia are:
 
•         Watson Oncology service- The world’s largest and oldest private cancer centre, the Memorial Sloan Kettering Cancer Centre in New York City is using the service to assist the broader oncology community of physicians to determine treatment options for patients by cutting the time taken for new research and evidence to influence clinical practice globally.
 
•         A world first, Deakin University is using IBM Watson to create an intelligent digital guide for students.  The Watson technology is embedded in DeakinSync, a digital hub designed to serve students’ information needs from any location at any time of the day.
 
•         ANZ Wealth is using Watson at the Sydney Grow centre and more than 400 financial planners to power an investor engagement advisory tool.  The bank’s goal is to shorten and improve the process of providing financial advice by a matter of weeks by matching client requirements to market offers.
 
•         IP Australia, is also trialling Watson across different applications to deliver better IP rights and inventor services.
 
•         The Immigration and Border Protection portfolio are breaking new ground as it uses Watson to help analysts within the Portfolio to draw further insights from unstructured data sources such as news feeds and government reports.


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Peter Dinham

Peter Dinham - retired and is a "volunteer" writer for iTWire. He is a veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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