Question
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What role does artificial intelligence (AI) play in revamping downstream facilities that are scaling back on conventional fuels production while upgrading to capture value from new products?
Apr-2024
Answers
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Philippe Mege, Axens, Philippe.MEGE@axens.net
Proposing a client upgrade a refinery plant from a conventional market to new products is generally based on consumer preferences, market trend analyses, and regulatory changes. AI can use machine learning algorithms to analyse historical data and make predictions about future market trends. It can also help by running different market scenarios to assess potential risks and associated impacts while developing a new product. NLP can also be used to extract valuable information from unstructured data sources to get a better understanding of the market and, therefore, stay ahead of the trends.
Apr-2024
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