LR bets on data science

Lloyd’s Register ponies up £10 million for big data engineering R&D at new Alan Turing Institute. AI set to 'transform’ asset safety and performance.

Lloyd’s Register (LR), through its charitable foundation, is to give the UK’s Alan Turing Institute £10 million over a five year period to support engineering applications of big data. The LR foundation has also just published a review showing how big data science can impact safety and asset performance.

The review was authored by a panel led by artificial intelligence expert Nigel Shadbolt of the University of Southampton and the Open Data Institute. One section addresses big data in the digital oilfield where ‘industry is increasingly looking to automate dangerous and expensive operations.’ Meanwhile techniques such as computational fluid dynamics (CFD) are used to improve production by modeling the complex downhole interactions between production equipment, the stressed reservoir rock and injected and produced fluids.

LRF MD Richard Clegg said, ‘We are going to see step changes in sensor technology, data-driven intelligent systems and data analytics impacting all aspects of business, from design to manufacturing, maintenance to decommissioning.’ Big data is going to bridge the gap from monitoring ‘what is’ to predicting ‘what if’. More from LR.

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