One of Houston’s biggest industries — oil and gas — and its up-and-coming technology sector (it’s the 12th largest in the country) have a bright future together when it comes to innovation. Deloitte’s Tech Trends 2021: An Energy, Resources, & Industrials Perspective rates the relevancy, for many industries, of nine trends most likely to spark disruption in over the next 18 to 24 months.
Seven of the nine trends were rated a five, or the top of the scale for relevance, for the oil and gas industry. Here’s quick look at them:
Strategy, engineered
Strategy evolves from slow and infrequent into a continuous and dynamic process, one that encourages expansive and creative thinking. Agile strategy, thoughtful architecture and product-oriented IT models are crucial here.
Core revival
A focus on core assets that uses transform-in-place methods to modernize legacy estates. New technology and techniques will speed the process.
The machine data revolution
Enabling data for machine, not human, consumption, which will allow machines to make real-time decisions that humans cannot. This trend will make use of the reams of data that now exist in legacy and core systems, using tools such as data meshes, data lakes, breaking down data silos, and reconsidering data collection.
Zero trust
The default position is denial, not trust, and will help improve cybersecurity, simplify security management and enable modern IT practices. A significant shift that includes automating manual processes and planning for transformational changes will be called for.
Rebooting the digital workplace
There’s been a fundamental shift in the way work gets done. Data will play a part in producing workspaces that are creative, productive, and cost-effective. Adapting to hybrid offices will boost productivity and enable the use of collaboration technology to better access talent around the globe.
Digital meets physical
Traditional human experiences become more digital, and digital experiences, more physical. Doing this, oil and gas companies can keep providing customers, employees, and consumers with the pandemic-era experiences they became accustomed to.
Tools for DEI
Tools to support diversity, equity, and inclusion efforts help make them more data-driven; still, leaders must manage implementation to meet their goals and avoid unintended consequences. This is especially relevant in Houston, given its status as the most diverse large city in the country.
We look forward to watching this innovation take place and turn into reality, making Houston an even more dynamic climate for oil and gas and for technology. We invite you to download and read the report for details and more information.
Amy Chronis is vice chair, U.S. oil, gas and chemicals leader and Houston managing partner at Deloitte LLP. Nate Clark is a principal in Deloitte Digital, Deloitte Consulting LLP. Clark leads the firm's U.S. energy and resources digital practice.
