Adroit Market Research - Industry Insights

In today’s world, lubricants are playing a major role in the functioning and protection of machines and raw materials in major industrial sectors. As there is a decrease in the prices of oil, companies are using technologically advanced innovations like artificial intelligence for creating a base for enduring success. In this study, the cases discussed will describe the use of artificial intelligence and machine language in developing technologically advanced applications. It also gives information of the products that have been developed using artificial intelligence and offers information to users regarding monitoring of lubricants, product quality and product manufacturing.

In today’s world, lubricants are playing a major role in the functioning and protection of machines and raw materials in major industrial sectors. As there is a decrease in the prices of oil, companies are using technologically advanced innovations like artificial intelligence for creating a base for enduring success. In this study, the cases discussed will describe the use of artificial intelligence and machine language in developing technologically advanced applications. It also gives information of the products that have been developed using artificial intelligence and offers information to users regarding monitoring of lubricants, product quality and product manufacturing.

Lubricants are mostly used for reducing friction and offer protection for the wear & tear to boost the functioning of the machine and safeguarding the raw materials. Consequently, movement of the bearing surfaces can be created in the presence of lubricants. In contradiction, as per the current scenario, the main driving force in the market is sustainability, preservation of the resources & energy and lessening the emissions established according to the significant issues of the environment. Therefore, the inadequate resources with the responsibility of future generations are the central part of the focus for corporate action.

Additionally, lubricants are uninterruptedly attracting the consciousness of people at a faster pace, assisting the sustainability goals of social, economic and green regions. Lubricants are participating in sparing the sustainability and use of resources.

The most common type of lubricant is mineral-oil based lubricant. Additionally, mineral-oil is relentlessly an important constituent of lubricants. Components of petrochemicals with the growing derivatives of natural & harvestable raw materials from the industries of oleo-chemical are gradually been accepted owing to the ecological compatibility and advantages of technology. Mineral oils are taking long to circulate in the engine. This influences the friction in the dry parts of an engine that assist in reducing the life of the engine. In the vehicle for long-haul trucking, mineral oils take longer to warm-up and move slowly, reducing the efficacy.

As the prices of oil are reducing and the squeeze on the flow of cash, gas and oil industry is challenged to accept and enhance the performance to be lucrative during the maintenance of long-term investment and outlook of operations. Recently, gas & oil companies are unable to maintain a similar level of investment in production and exploration when the basic prices of oils were at a peak.

The consequence is a dreadful need for improving the production cost and performance per barrel. Companies have various enhancement opportunities after using the huge data produced by oil fields. Gas and oil companies can change crisis into opportunity by making the technologically advanced inventions such as artificial intelligence for building groundwork for long-term success. If instability in the price of oil is a new rule, the drive for “value over volume” is the main reason for success.

With the help of AI tools, upstream gas & oil companies can change their focus from production at all prices to manufacturing in context. Companies will have to do the management of profit and loss to enhance the production cost of each barrel. For doing this, there is the need to combine all the aspects of manufacture management, gathering data for forecasting and analysis, and influence artificial intelligence to improve the operations.

As the issues of the environmental impact of the production of energy and continuous consumption, companies of gas and oil are looking for the novel ideas for accomplishing the goals of business while decreasing the impact on the environment. Nowadays, Artificial Intelligence is assisting the oil & gas industry to increase its graph based on consumption. So to increase the growth of the lubricants market, there are various companies working on using artificial intelligence.

Case Study 1:

A GE Company, Baker Hughes (BHGE), declared a contract by Emirates National Oil Co. (ENOC) to establish a lubricant monitoring system, can be used in various industries with large machinery. VitalyX is the cloud-based system constructed to measure and detect the properties of lubricant in real time during the conversion of data into alarms and alerts for recognizing the potential concerns.

The novel monitoring system is using the improved machine learning and algorithms for creating the depiction of the health of machine and safeguard the loss of investment. An accessible dashboard can show huge data down to the level of individual asset and preserve in the shared cloud.

The development of VitalyX with ENOC makes sure to provide the technology that works in the extreme conditions of real-world and has also proved a better experience in the field. This technology is an important example of industrial internet of things like software and hardware are working together, considering sensor data to provide new insights that cannot be achieved earlier.

Case Study 2:

In the year 2015, Shell declared that it will be the first company in the sectors of lubricants to develop an AI assistant for consumers. Shell Virtual Assistant is an interactive one-stop shop on the website of Shell where distributors and customers can ask the common questions related to lubricants.

Distributors and customers can type them through an online message window, where avatars Ethan and Emma are used to replying back with the appropriate answer in seconds. The communication is the same as the chat conversation, however, instead of a living person on the other end, it is done with the help of artificial intelligence through the technology recognized as Natural Language Interaction. This technology is used in several personal assistant applications, permitting the interaction by using normal language.

The novel service of lubricant is now available to distributors and customers in the United Kingdom and the United States. It has the potential of answering questions like where to purchase and what pack sizes of lubricants are available. The service can also deliver the information regarding the technical properties of the product and present to ask for brochures, material safety data sheets (MSDS) and technical data sheets (TDS).

Additionally, Shell Virtual Assistant is making the recommendations of product on the basis of equipment of customer by connecting to Shell LubeMatch, free online service where consumers can get the appropriate lubricants for the equipment and vehicles.

Shell Virtual Assistant counterparts the corporation’s LubeAdvisor that assist consumers in improving the lubricants of machinery. It involves a Web platform, local application experts and technical helpdesk for the technical support. Actually, for the composite technical questions that cannot be answered by Shell Virtual Assistant, consumers are re-directed to Shell LubeAdvisor.

Future Prospects:

In the coming years, the company supposedly pursues to combine AI and automation in their facilities. Shell imagines that automated robots can take over the regular observational tasks and gathering of data done by human workers. Shell considers the future of AI in the industry will experience substantial growth in automated and unmanned facilities.