How data is the new oil

Data lakes, like oil reservoirs, are filled with vast industrial and economic potential. And much like how we dig for oil, we must wade through data reservoirs to find the hidden AI insights within. Thus, companies without a data strategy have no AI strategy! In today’s episode of the Industry Forward podcast, host John Nixon, Global Vice President of Process Industries at Siemens Digital Industry Software (Siemens) will speak with William (Bill) Hahn, Director of Solutions Consulting at Siemens. These experts will discuss strategies to mine the insights from data lakes, how data can be as valuable as oil and the future of multidisciplinary AI for engineering applications. In this podcast you will learn: 00:56 – Why we say “data is the new oil” 05:16 – How data density is like energy density 09:16 – How, with context, the insights you gleam from data are as precious as oil 10:31 – How ontologies build a multi-persona, authoritative source of truth Connect with John Nixon on LinkedIn Connect with Bill Hahn on LinkedIn