With the annual cost of global cybercrime already hitting $ 100 billion, the lack of risk prevention for cyber attacks is a growing concern. Right now however, funds have become a scarce commodity too. Conoco Phillips is just one example of an energy production company that slashed its 2015 spending to just half of that spent in the previous year. If this trend example continues over the next twelve months, it will become more difficult for companies to facilitate a secure E& P environment. On that note, Arthur D Little told us about its recent Digital Transformation Study in which, the research firm cited the main challenges facing the energy and utilities sector. These were lack of knowledge, a lacking sense of urgency, and goal definitions. Interestingly, for the telcos, a spike highlighted excessive complexity in terms of the industrial digital transformation. In this edition, we looked at insights from other verticals ( such as defence, manufacturing, retail, and the aeronautical sectors) about technological innovations and trends that could be useful in aiding the advancement of the digital oilfield. It is certainly going to be interesting to watch what happens over the next year; not only in terms of smart connectivity but, perhaps more importantly, how smart thinking will help to manage assets, people, security, and data traffic better against a backdrop of uncertain futures and limited budgets.
With best wishes