Innovations such as robotics and automation have paved the way for more efficient, productive and intelligent industrial operations. And with these technological advancements comes the increasingly pervasive Internet of Things (IoT), which delivers increased data and sharing communication that Microsoft estimates could lead to $90bn in added value for manufacturers annually.

The rapid progress of technology, such as big data and analytics, sensors, and control systems, offers oil and gas companies the chance to automate high-cost, dangerous or error-prone tasks. Most oil and gas operators are starting to capture these opportunities and would do well to accelerate their efforts. Companies that successfully employ automation can significantly improve their bottom line.