How Will AI Be Applied To Oil & Gas? One Company Has Some Answers

The rapid growth of AI technologies and how to deploy them successfully is a crucial topic in every industry now, and the oil and gas business is no exception. For companies to remain competitive and profitable into the future, they will need to adopt fit-for-purpose AI tools that can help them optimize processes and control costs in ways that they could not have imagined a few years ago.

Few if any companies in the industry possess the staff expertise to develop tools in-house in this arena, meaning they will rely on third party contractors for this service. As I sought to learn more about the subject myself, I was able recently to interview Jimmy Fortuna, Chief Product Officer at Enverus, one of the industry’s biggest and most diverse providers of SAAS-based data analytics and consulting services. 

Enverus recently introduced an AI tool it calls Instant Analyst™, a product that works in conjunction with generative AI technologies from Amazon Web Services (AWS) to enable Enverus to analyze vast data streams to enable real-time decision-making.

“When a user asks the Enverus Instant Analyst an open-ended question, the AI-powered system searches exclusively through Enverus' vast repository of proprietary research and analytics,” Fortuna says. “This curated content, housed within the Enverus Intelligence Vault™, includes tens of thousands of documents containing valuable insights and data points specific to the energy industry. By using solely Enverus proprietary content, the Instant Analyst ensures that the answers it provides are highly relevant, accurate, and easily verifiable.”