AI could unlock $230 billion annually for upstream oil, gas sector: McKinsey

Artificial intelligence could unlock approximately $230 billion in annual value across the global upstream oil and gas sector as the technology matures and autonomous operating modes become more common, according to a report by McKinsey & Company.

The report, said AI can unlock approximately $65 billion in annual recurring value across upstream oil and gas in the near term with technologies available today, with a “credible path to $230 billion at full potential as the technology matures and autonomous operating modes become more common.”