Generative AI will continue to gain traction in the oil and gas industry this year.
That’s what Trygve Randen, Senior Vice President of Digital Products and Solutions at SLB, outlined to Rigzone, highlighting that the technology “entered the public consciousness last year”.
“At SLB, we’ve been working with large language models (LLMs), which make up the underlying technology of generative AI, for several years,” Randen said.
“In 2024, we’ll continue to advance generative AI solutions for both our internal and customer-facing use cases,” he added.
“We’ll continue to see the scaling potential for all forms of AI grow in the year ahead and with this comes a crucial need for upskilling the industry’s workforce,” he continued.
Randen told Rigzone that AI literacy and training is an area that the industry must prioritize to take full advantage of the technology’s upside potential.
“At SLB, we’ve made this a top priority and recently launched intensive AI and technology training programs at all levels of the organization,” he said.
“We’re also looking at ways to offer similar programs to our customers,” he added.
Randen told Rigzone that both traditional and generative AI capabilities will continue to enable the industry to enhance efficiency, productivity, and sustainability.
“Generative AI, in particular, has the potential to sift through enormous amounts of data, extract useful generic patterns and find connections which were not possible before,” he said.
“If we look at our industry today, two pressing challenges are data overload and knowledge loss, largely from a workforce population nearing or at retirement age,” he added.
“At SLB, we are using generative AI to address this dual challenge via LLM’s that extract valuable insights from decades of reports, automate technical support and more,” Randen noted.
The SLB SVP told Rigzone that as AI scales, “the industry will continue to reap these benefits”.
“But it must also pay heed to data quality and AI literacy. Both are crucial AI enablers for scaling AI and deriving the highest possible ROI from the technology,” he added.
Vicki Knott, the CEO of CruxOCM, told Rigzone that she believes that, in 2024, generative AI will “continue to dominate general business functions like finance, legal, communications, and marketing since valuable business cases have been demonstrated in these areas”. READ THE FULL ARTICLE
