By predicting impending equipment failures, bp can improve reliability and reduce flaring
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Aug 03, 2020, 09:00 ET
AUSTIN, Texas, Aug. 3, 2020 /PRNewswire/ — SparkCognition, the world’s leading industrial artificial intelligence (AI) company, is pleased to announce the expansion of their relationship with bp, an integrated global energy business, to deploy AI predictive analytics in service of improving reliability and reducing carbon footprint in their operations.
SparkCognition’s SparkPredict®️ analytics solution is currently deployed on Atlantis and ETAP, two of bp’s production facilities, enabling bp to predict impending equipment failures and process vulnerabilities. Using SparkPredict, bp will be able to take action before events occur and improve maintenance activities for critical subsystems across its assets. Fewer outages means less flaring, and therefore less carbon emissions. Through the new expansion, additional facilities will be added in 2020 and 2021.
“Cutting edge technologies, like AI-based predictive analytics, are key enablers to improving the efficiency of our operations and meeting our ambition to become a net zero company by 2050 or sooner. Working collaboratively with SparkCognition, we have delivered this project in an agile way,” said Fereidoun Abbassian, vp of Transformation, Upstream Technology at bp.
With operations in 79 countries, bp plays a large part in the energy market. Prior to deployment, bp evaluated SparkCognition’s model building capabilities by sharing several years of historical data, which SparkCognition leveraged to develop models that predicted historical failures with an average of nine days advanced warning.
“We’re thrilled to have seen such results from our predictive analytics project with an exceptional collaborator like bp,” said Philippe Herve, VP of Energy at SparkCognition. “Operation efficiency and sustainability are values SparkCognition holds at its core, and we’re looking forward to driving this joint mission forward with bp over the next few years.”
To learn more about SparkCognition’s SparkPredict, visit www.sparkcognition.com/products/sparkpredict.
With award-winning machine learning technology, a multinational footprint, and expert teams focused on defense, IIoT, and finance, SparkCognition builds artificial intelligence systems to advance the most important interests of society. Our customers are trusted with protecting and advancing lives, infrastructure, and financial systems across the globe. They turn to SparkCognition to help them analyze complex data, empower decision-making, and transform human and industrial productivity. With our leading-edge artificial intelligence platforms, our clients can adapt to a rapidly changing digital landscape and accelerate their business strategies. Learn more about SparkCognition’s AI applications and why we’ve been featured in CNBC’s 2017 Disruptor 50, and recognized three years in a row on CB Insights AI 100, by visiting www.sparkcognition.com.
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Originally published on PR Newswire.