Yahoo Finance Shell (SHEL), SparkCognition Collaborate for AI Technology
Shell plc (SHEL) recently announced a technical collaboration with SparkCognition, a pioneer in artificial intelligence (AI) software solutions optimized for business, in order to quicken the pace of imaging and study of subsurface structures using generative AI technology.
The companies intend to enhance the efficiency and speed of exploratory processes, resulting in improved productivity and higher success rates, by applying cutting-edge AI algorithms to analyze enormous volumes of data and automate the analysis.
Traditional subsurface imaging and data processing methods are time-consuming and costly, requiring terabytes of data, high-performance computation and complicated physics-based algorithms to analyze and discover exploration potential. Deep learning is used in Shell and SparkCognition's patented generative AI method to produce trustworthy subsurface pictures with a far less number of seismic shots — as little as 1% in successfully completed field trials — than is typically required while maintaining subsurface image quality. This provides significant prospects for HPC cost reduction and process acceleration, opening the door to new uses and more innovation.
The chairman of SparkCognition, Lord John Browne, stated that innovations, like the use of AI for exploration, are crucial to cater to the world's rising energy needs and lessen carbon imprint.
According to Shell's vice president of innovation and performance, Gabriel Guerra, partnering with SparkCognition and leveraging their expertise in generative AI opens an exciting opportunity to deliver a new wave of innovations at Shell. This technological collaboration is an extension of the company's broader digital transformation plan, which aims to use innovative technologies to enhance safety, effectiveness and sustainability throughout operations.
The patented AI approach of oil and gas exploration is being used to tackle other challenging issues where saving time and data may have a significant impact, such as on-shore exploration, satellite imaging of weather patterns, national security, and threat assessment.
Zacks Rank & Key Picks
Shell currently carries a Zack Rank #3 (Hold).
Some better-ranked players for investors interested in the energy sector include Sunoco LP SUN, Murphy USA Inc. MUSA and Dril-Quip, Inc. DRQ. While Murphy USA and Dril-Quip carry a Zacks Rank #2 (Buy), Sunoco sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Sunoco, a distributor of motor fuel to approximately 10,000 convenience stores, has a stable business model with sustainable and predictable cash flows. For this year, SUN has witnessed upward earnings estimate revisions in the past seven days.
Murphy USA, a leading retailer of gasoline, operates stations close to Walmart supercenters and sells low-cost, high-volume fuel. MUSA has more than 1,700 stores and has witnessed upward earnings estimate revisions for 2024 earnings in the past seven days.
Dril-Quip is a leading provider of highly engineered equipment, service and innovative technologies that are being employed in the energy sector. DRQ’s balance sheet is free of debt, highlighting its sound financial position.
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Dril-Quip, Inc. (DRQ) : Free Stock Analysis Report
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