Board of Directors - 2018

AVISTA OIL is transforming itself

AVISTA OIL is transforming itself

Blockchain technology, artificial intelligence, industrialization 4.0, augmented reality, …

Opening the newspaper, these buzzwords are exactly what one reads about the future of industry. How far does the trend go, or is the progressive digitalization of industry mere science fiction? 

I can say quite clearly: No, the digitally networked age is no 'science fiction'! This complex structural change is already a reality. And the way digital data are used will also shape the future world of work more than ever before. Only that the digital age actually started much earlier. 

The large-scale PC deployment of the 1980s was one of the last century's first digital revolutions in industry. The beginning of the 1990s saw the start of the Internet's commercial phase, ultimately leading to the creation of a global, decentralized computer network that would soon enable electronic data to be sent around the entire globe in real time.  

The coming decade will continue this networking of the world. The digital transformation will affect and change the structure and culture of AVISTA OIL. But how do the new "digital rules" work for us?  This question can only be answered if we understand the advantages and risks of digitalization for AVISTA OIL. A proactive and forward-looking approach to the contents and developments of the new digital world brings opportunities and various new options in its wake. 

We will continue to work on integrating our processes and staff in the digital transformation to provide orientation and thus alleviate the fears associated with the term "digitalization" and its impacts.

The trend of being able to conclude global transactions in real time with a single click of a button has become a reality for AVISTA OIL already. But the digitalization will also help ensure the company's long-term success for all of us in the future. Because not using the opportunities of digitalization is the greatest risk faced by a growing company. To face technological change, utilize it, and thus respond to changing market conditions will always remain an objective of AVISTA OIL's corporate strategy.