New Delhi, Aug. 27 -- Artificial intelligence could unlock approximately USD 230 billion in annual value across the global upstream oil and gas sector as the technology matures and autonomous operating modes become more common, according to a report by McKinsey & Company.

The report, said AI can unlock approximately USD 65 billion in annual recurring value across upstream oil and gas in the near term with technologies available today, with a "credible path to $230 billion at full potential as the technology matures and autonomous operating modes become more common."

McKinsey said the opportunity comes after a decade of digital transformation in upstream oil and gas, which delivered "real but uneven results", with improvements in efficie...