Oil & Gas

Positive Profits in a Net-Zero World: AI's Role in the Future of Oil & Gas

AIRED ON: May 18, 2023

Webinar Summary

The global demand for clean energy is rapidly increasing, with projections indicating that the world will add as much renewable power in the next five years as it did in the past 20. This surge is driven by various factors, including energy security concerns due to geopolitical conflicts, economic uncertainties, and the urgent need to address climate change.

In response to the 2030 Agenda for Sustainable Development set forth by the United Nations, oil and gas operators are setting aggressive goals to reduce fossil fuel consumption and greenhouse gas (GHG) emissions. Achieving these goals requires leveraging data and AI to optimize operations, enhance productivity, and reduce emissions while maintaining profitability.


SparkCognition’s Stephen Gold and Jack Leahey explain how leading oil and gas companies utilize AI to gain a competitive advantage in their sustainability efforts. Topics covered will include:

  • Reducing failure rates of aging assets by up to 20% and increasing uptime by as much as 5%.
  • Identifying sub-optimal equipment needing maintenance or replacement that are significant sources of avoidable emissions.
  • Reducing alert fatigue by up to 98% and improving worker productivity.
  • Implementing new workflows to operate electric- and fossil-fuel-powered assets side-by-side simultaneously.
  • Leveraging computer vision for real-time safety improvements and minimizing work stoppages that can result in unnecessary emissions through activities such as flaring.

About the Speakers

Stephen Gold

Stephen Gold is the Chief Marketing Officer (CMO) bringing over 30 years of experience, including B2B application software development, AI and data science, and IoT services. He previously was the General Manager of Honeywell’s $2.5B Connected enterprise, where he led the digital transformation and IoT advancement of this century-old $40B manufacturer. As Group CMO of IBM Watson, Gold was one of the principal business architects who delivered next-generation AI technology, driving over 10,000 engagements. Prior positions included CCO of HZO, CMO of SPSS, President of Aberdeen Group, and President & CEO of Azerity. Gold has also served on various private and public boards, and has been featured on various media outlets, including CNN, CNBC, Today Show, and Fox News.


Jack Leahey

Jack Leahey is the Senior Vice President of Downstream Oil & Gas at SparkCognition. He brings nearly four decades of experience across energy, research, and technology to his role, where he helps oil and gas businesses on their AI adoption and digital transformation journeys. Jack started his career as a research scientist working at NASA and Morton Thiokol, before moving into technology and energy, where he has played instrumental roles in business growth and modernization across multiple companies. Jack holds a BS in Chemistry and Computer Science from Berry College, and an MS in Physical Chemistry from the University of Alabama, Huntsville.

Watch It Now

Positive Profits in a Net-Zero World: AI’s Role in the Future of Oil & Gas is available on demand. Join us to discover how AI is being harnessed by oil and gas companies to drive operational excellence, reduce emissions, and achieve sustainable energy solutions. Hear about real-world examples and learn from industry leaders already utilizing AI for a greener future.

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