Cisco has been a prominent supporter of the Rockwell Automation Fair for a number of years. The relationship has grown over time to one where both Rockwell and Cisco collaborate on developing software, solutions and products for a wide range of both IT and OT (Operational Technologies) functions within industrial and other customers.
Recently Cisco showed off some of the technologies in the oil and gas space, and Ahmed Farrag, Business Development Director from Cisco, talks about Cisco’s presence at the show in the following video.
Ahmed talks about Oil and Gas as one of Cisco’s key focus industries. He mentions the huge demand increases we’ve seen over the past few years.
That’s all changing right now.
The price of oil has plummeted to half what it was only a few months ago. With China slowing, parts of Europe close to another downturn, and oil now gushing following the huge investments that have been made in fracking and tar sands in the US, some say we have too much oil right now. Some companies are going to be worried about margins and future investments. So what’s the future?
The show’s title gives us a clue. Just as automation has helped ‘onshore’ manufacturing back to the US in many cases, automation will reduce costs over the longer term. And many processes and practices in the oil and gas industries are ripe for Automation. Blair Christie, Senior Vice President and Chief Marketing Officer at Cisco, showed a chart at a recent press review (The Internet of Everything Changes Everything – The Future of Work) that highlights that the oil and gas industry is, perhaps, the most likely industry to benefit from the Internet of Everything and automation (slide 12):
That chart holds the key to the future of the Oil and Gas industry.
With the advances that have already been made (and those yet to come) in the field of automation, along with rapid progress in collaboration and communications technologies between workers and companies, one of the keys to profits will be enabling lower costs and higher efficiencies. Cisco and it’s partners are leading the charge.