Tieto’s CEO Kimmo Alkio urges the Norwegian Oil & Gas sector to courageously advance digitalization

At the annual Subsea Valley Conference in Oslo on April 7th, Tieto’s CEO Kimmo Alkio addressed how oil and gas companies should further advance digitalization to create competitive advantages during a time when reinventing business has never been more important. In his keynote, named “the industrial effect of digitalization,” Alkio emphasized the importance of disruptive digitalization and how analytics drive efficiencies in the future within the oil & gas industry.

“We all recognize that the oil and gas industry is in a paradigm shift, creating a stronger need to increase business IT alignment and consider further ecosystems collaboration. The speed of digitalization will continue to increase and the borders between industries will open up in an unforeseen manner, creating interesting opportunities”, predicted Tieto’s CEO Kimmo Alkio during his key-note.

Alkio presented examples on how digitalization is now revolutionizing industry after industry and how the expectations from companies and consumers force innovation. As a result, new ecosystems of industries are emerging through collaboration – all enabled by technology. The development is fueled by consumers’ willingness to adopt new services faster than ever before, as well as the exponential developments in technology. Because of these technological developments, everything will happen much faster, more efficiently, on a smaller scale and in a more intelligent way.

“We are in the middle of the digital age, in which companies are exposed to the constant pressure of reinventing themselves and rapidly adopting new technologies. Now we also need courage from companies and organizations in taking the next step. It is necessary to step out of the traditional modes of operation and embrace a culture of testing and trying much more than before, as well as promote practical collaborations, just like start-ups do”, Alkio suggests.

The society is continuously getting more data-driven. Digital innovation is speeding up in numerous fields. Tieto has high expectations for the development of cognitive intelligence, a combination of artificial intelligence, machine learning, and real-time decision-making.

“Currently, cognitive intelligence is being applied by only 1% of enterprises worldwide. By 2020, it is expected that 50% of enterprises will be applying cognitive intelligence to enhance either their own business performance or their customers’ experience,” Alkio highlighted.

Tieto is the largest Nordic IT software and services company offers several market leading products and solutions to the oil and gas sector, including Energy Components, an end-to-end hydrocarbon production data management and accounting software, ProArc, a solution for Technical Document Control and Delivery Management and DaWinci, an industry solution for personnel logistics and POB management.

For further information, please contact:
Kia Haring, Head of Global Communications, kia.haring[at]tieto.com, +358 40 7653 700

Tieto aims to capture the significant opportunities of the data-driven world and turn them into lifelong value for people, business and society. We aim to be customers’ first choice for business renewal by combining our software and services capabilities with a strong drive for co-innovation and ecosystems. www.tieto.com

The Subsea Valley Conference has in just a few years established itself as one of the leading energy and technology conferences in Europe. The 2016 conference will bring together world-class speakers and highly acknowledged industry leaders to present their views on our energy future, technology, innovation, the industry and market situation. The Subsea Valley Conference 2016 will present top-level keynote sessions followed by 30-40 high-quality technical sessions, offering energy for innovation for leaders, engineers, innovators, investors, academics and politicians.

About Us

Tieto aims to capture the significant opportunities of the data-driven world and turn them into lifelong value for people, business and society. We aim to be customers’ first choice for business renewal by combining our software and services capabilities with a strong drive for co-innovation and ecosystems. Headquartered in Finland, Tieto has over 13 000 experts in close to 20 countries. Tieto’s turnover is approximately EUR 1.5 billion and shares listed on NASDAQ in Helsinki and Stockholm. www.tieto.com

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