Will Oil, Gas Companies Ramp Up Their Use of Generative AI in 2024?

Will oil and gas companies ramp up their use of generative artificial intelligence (AI) in 2024? And are some oil and gas companies reluctant to implement generative AI technology?

Those were the questions Rigzone posed to Amazon Web Services (AWS), which describes itself as the world’s most comprehensive and broadly adopted cloud, and CruxOCM, which describes itself as the future of autonomous control room operations.

“We anticipate the adoption of generative AI to increase across all industries in the coming year, including the energy and oil and gas industry,” Joseph Santamaria, the Director of Solutions Architecture for Energy and Utilities at AWS, told Rigzone, responding to the questions.

“While it’s still early days and the industry is working to define the potential impact of this transformative technology, many organizations are working with decades worth of valuable data that can be used to enhance exploration, drilling, and production operations, helping to reduce costs, risk, and carbon footprint,” he added.

“We are encouraged by what we’re seeing and hearing from our customers, with a large majority looking at adopting generative AI at some level. We have many customers quickly embracing the technology and actively developing secure generative AI enterprise capabilities, and others working on a wide range of proof of concept projects,” Santamaria went on to state.

Responding only to Rigzone’s first question, the Chief Executive Officer and Co-Founder of CruxOCM, Vicki Knott, said, “the acceleration of innovation is bound to happen as oil and gas companies increasingly leverage new technologies”. READ THE FULL ARTICLE