HOUSTON (Reuters) -Energy technology company SLB launched a new artificial intelligence tool on Monday to automate processes and workflows for energy companies moving to leverage AI to unlock growth.
SLB’s new technology, Tela, will be embedded into the company’s portfolio of applications and platforms, and users will interact through a simple conversational interface.
Tela agents can work in collaboration with humans or autonomously to take decisions on things like interpreting well logs, predicting drilling issues, or optimizing equipment performance.
“We’ve been very successful with this (AI) business for the last many years, and absolutely, digital will be an integral part of the success of SLB for many decades to come,” Rakesh Jaggi, SLB’s president of Digital & Integration, told Reuters.
“Today, the industry faces a dual challenge: a leaner workforce and increased technical complexity, and Tela can address both,” Jaggi said.
Faced with a slump in global crude oil prices as the OPEC+ group of oil producers has increased output, energy companies have announced thousands of job cuts this year to rein in costs while they contend with lower profits.
The digital sector has been one of the main drivers of SLB’s revenue growth, jumping 11% in the third quarter from the second quarter.
The company began reporting its digital business as a standalone division in the last quarter and forecast double-digit sales growth year-on-year for the segment.
Shares of SLB, formerly known as Schlumberger, were up 2.8% at $37.10.
(Reporting by Arathy Somasekhar in Houston; Editing by Joe Bavier)
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