Petrochem/Utilities Industry Trends

Information Technology - Crossing Industry Lines

Issue Table of Contents

New Electronic Standards Aim to Increase Efficiency of Oil and Natural Gas Industry Transactions New Mission and Vision for API's PIDX Committee Information Technology - Crossing Industry Lines Global B2B E-Commerce Standardization Making It Possible

Information Technology (IT) is an all-pervasive global phenomenon that is enabling dramatic change to occur in virtually every industry worldwide. Fueled by the convergence that has occurred between computing and communications, many countries are investing heavily to ensure that they obtain a share of the market. Key to IT's success is the interoperability of standards and the union of several disciplines including:

• Computer science
• Software engineering
  
• Computer engineering
  
• Digital communications
  
• Information systems

Today, the term information technology is being used more and more to mean computing in conjunction with communications, as it is becoming increasingly difficult to determine where the computer stops and the communications system starts. Therefore, the people involved in the development of IT standards come from diverse industries and organizations including:

• Hardware Vendors
  Dominated by multinational corporations (MNCs), computer vendors - such as IBM, Hewlett Packard, Digital Equipment, Compaq, etc.; computer chip manufacturers - such as Intel; a host of component manufacturers in countries such as Taiwan; and some local companies who are involved in building computers
  
  
• Software Product Vendors
  Companies such as Microsoft, Oracle and small local players
  
  
• Consulting and Professional Service Providers
  Organizations that cover a wide range of services, including everything from training to strategic planning. They include large MNCs such as IBM, GSA, EDS, CSC and a number of large local companies, such as Computer Power Group, Aspect, etc.
  
  
• Telecommunications Vendors
  Organizations that provide the communications backbone to link everyone together and also provide value-added services

Innovative IT solutions provide support in numerous aspects of everyday life for both the public and business sectors. Indeed, IT standards development in all sectors of the economy will be even more significant in the next decade. A few current examples of IT uses include:

• Petrochemical
  The American Petroleum Institute sees IT technology as enabling the Petrochemical industry, as it provides the potential for expanding its markets, increasing its sales, raising customer satisfaction, strengthening distributor and supplier relationships and improving its public image.
  
  
• Medicine
  The computer plays an increasing role in the provision of new diagnostic tools. Some images of the human body can only be generated by a computer. Further, interpretations of certain pathology tests can more reliably be performed by a computer than they can by human operators.
  
  
• Manufacturing
  Today, a widely used methodology for managing factories is implemented as a group of software modules that manage various engineering, production and accounting functions throughout the plant.
  
  
• Law
  IT is used for administrative tasks needed by lawyers and courts. In the U.S., people are allowed to enter pleas, pay fines and seek court dates online. Online Dispute Resolution (ODR) advocates see a future where routine legal decisions may be made by automated systems.
  
  
• Finance
  IT facilitates inter-industry business transactions such as order placement and processing, shipping and receiving, invoicing, payment and cash applications.
  
  
• Transportation
  IT provides the intelligent link between travelers, vehicles and the infrastructure. When applied to transportation systems, these technologies can help reduce traffic congestion, reduce pollution, and improve safety and efficiency.

It is difficult to define a facet of society that has not been touched or totally changed by IT in some form or another. One of the most remarkable changes, brought on by the Internet, is that the whole IT industry is now global in nature. The cultural implications of this will undoubtedly exceed those of traditional media such as film, TV and print.

Further, IT is affecting the balance of trade for all developing and mature economies. Nearly all countries are now or will need to import/export IT components, equipment and software. The innovative individuals and organizations that are crossing industry lines to develop the IT standards will lead the way.

For More Information:
Petrochemical/Utilities IT Technology Standards and Related Publications
Petrochemical/Utilities Standards Update
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