Artificial Intelligence Is Wading Into the Deep to Unlock More Oil
The use cases for Artificial Intelligence (AI) are growing exponentially as companies discover more ways to leverage the technology. Deepwater oil and gas production and exploration is one of the latest frontiers for AI. Leading global energy giant (NYSE: SHEL) recently unveiled a technology collaboration with AI software solutions provider SparkCognition to enhance its ability to find and produce oil from deepwater sources.
Shell is one of a growing number of oil and gas companies tapping into AI to enhance their oil and gas operations.
Shell is working with SparkCognition to "accelerate the pace of imaging and exploration of subsurface structures using generative AI technology," according to the press release detailing the collaboration. The current subsurface imaging and data analysis method costs a lot of time and money. It relies on processing terabytes of data (each equivalent to 6.5 document pages or 250,000 photos), high-performance computing, and complex physics-based algorithms to uncover oil and gas exploration opportunities.
Source Fool.com
Royal Dutch Shell B Stock
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With a target price of 24 € there is a slightly positive potential of 6.43% for Royal Dutch Shell B compared to the current price of 22.55 €.
