Aker CEO Øyvind Eriksen believes that AI is a “game-changer”. He sees opportunities for the group’s investments in the field of information technology.
– Artificial intelligence will change a lot, including organizations and companies. How premature to conclude. At the same time, it is a great opportunity that we all have to follow, understand and seize, Eriksen tells E24.
On Friday, it presented Aker’s results for the first quarter, a statement of numbers that showed shrinking values in the first three months of the year.
In a letter to Aker shareholders, he highlighted potential opportunities in artificial intelligence, a topic that has sparked interest from investors and companies.
– Our assumption is that artificial intelligence will help implement the development of new industrial facilities faster and cheaper, operate industrial facilities more efficiently and profitably, but also help promote sustainability in business, among other things by contributing to the reduction of emissions, he says.
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In the letter, Aker’s chairman called AI a potential “game-changer” that Aker companies are spending more and more time and resources to understand. Aker has operations in both oil and renewable energy, as well as several IT companies.
Eriksen asserts that AI is part of a larger investment in software and automation.
– Digitization and automation are strategic priorities at Aker that we spend a lot of time on, both as a software business owner and as a contributor to the development of our operational business.
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The Aker chief says that the result of AI in many contexts is that the machine takes over the work tasks that humans do today.
But history shows that when technology takes over jobs, the result is jobs changing, but not removing.
Referring to programs
Eriksen singles out Aker’s software companies, and points to Cognite, which has developed its own data platform for data collection and analysis, facilitating digitization across many industries.
Applications like artificial intelligence are neither more nor less intelligent than what the quality of the data indicates, he says.
Eriksen refers to the company’s most important product; Cognite Data Fusion’s data and software platform, meticulously built to provide data, quality assurance, and aggregation from industrial facilities.
The software is used, among other things, in oil and gas, energy production and distribution, as well as in the processing industry.
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Eriksen says Cognite is in dialogue with partners such as Microsoft, Accenture, SLB (formerly Schlumberger) and Saudi Aramco about the technology.
– There is a technology that needs to be built and is not fully available today. Sitting around the table and being a part of this development is educational, exciting and has great potential.
Eriksen also points to the company Aker Aize, which develops industrial software that can be used to simplify work procedures, among other things, in the oil and gas industry.
– It is almost certain that AI will also be an important technology for simplifying business processes in the future.
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