31 May 2019 09:39

Gazprom Neft hopes to boost operating profit by 150 bln rubles/year with AI

MOSCOW. May 31 (Interfax) - Gazprom Neft hopes to earn an additional 150 billion rubles of operating profit annually thanks to the help of artificial intelligence, the Russian oil company's CEO, Alexander Dyukov said at a meeting on the development of AI led by President Vladimir Putin on Thursday.

There is now demand for AI technology primarily in the banking, telecommunications and retail sectors, but the scale of this demand is limited, Dyukov said.

"Our industry, essentially, is not yet involved in creating demand for AI technology. There are objective reasons for this," he said, adding that the fuel and energy sector is capable of generating effective demand for such technology, and the solutions found by fuel and energy companies could be replicated in other sectors of industry.

"We are banking on the development of AI. Gazprom Neft has experience in the application of AI. Our digital transformation program for the company includes more than 12 key programs and over 500 projects throughout the whole value creation chain. The expected effect, by our estimates, is at least an additional 150 billion rubles of operating profit per year," Dyukov said.

"AI is not a technology of the future for us, we're using it today, sometimes on a trial basis, at many stages of our production chain. Considering the complexity of the problems that are being solved with the help of AI in the fuel and energy sector, in future our know-how could be scaled to other sectors. Therefore, Gazprom Neft is prepared to take on a leadership role in the implementation of the national strategy for the development of AI in industry," Dyukov said.

"Vladimir Vladimirovich, we are prepared to provide knowledge and groundwork and a production base for the development of AI in industry. We're prepared to take on the role of one of the leaders in the development of AI for the segment of industry," Dyukov said, addressing Putin.