The oil firm will use the cognitive computing system to predict solutions for its future operations, and derive insights from large volumes of unstructured and historical data saved in project reports.
Woodside science and technology senior vice-president strategy Shaun Gregory said: "We are bringing a new toolkit to the company in the form of evidence based predictive data science that will bring down costs and increase efficiencies across our organisation.
The cognitive advisory service, known as ‘Lesson Learned’, will enable Woodside to arrive at quicker operational decisions and results with improved process flow.
"Data science, underpinned by an exponentially increasing volume and variety of data and the rapidly decreasing cost of computing, is likely to be a major disruptive technology in our industry over the next decade.
"Our plan is to turn all of this data into a predictive tool where every part of our organisation will be able to make decisions based on informed and accurate insights," Gregory added.
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