SLB Launches Lumi Platform to Accelerate AI in Energy Industry
SLB SLB, an American oilfield services company, has introduced its Lumi data and AI platform, a cutting-edge solution designed to integrate advanced AI capabilities across the energy sector.
Unveiled at the SLB Digital Forum in Monaco, the Lumi platform is aimed at revolutionizing data management, improving decision-making skills and boosting operational efficiency within the energy value chain.
SLB's Lumi Platform Enhances Cross-Domain Collaboration
The Lumi platform addresses the complexity of the energy industry’s data ecosystems by offering an open, secure and modular platform that enables access to high-quality data across subsurface, surface, planning and operations. SLB has embedded large language models and industry-specific domain models within Lumi, empowering customers to accelerate AI adoption at scale. This should lead to faster, more informed decisions and greater collaborations across the energy sector.
Rakesh Jaggi, president of Digital and Integration at SLB, noted that while AI is significantly changing the energy industry dynamics, its full transformative potential is limited by the complexity of the sector's data ecosystems.
SLB Lumi Platform Expands AI Capabilities
SLB has ensured that the Lumi platform can be deployed on all major cloud service providers and on-premises systems, making it accessible to its global customer base. By offering foundational AI models tailored to exploration and production, the platform enables customers to develop and deploy traditional and generative AI solutions, transforming real-time decision-making and automation throughout the energy production cycle.
The platform also integrates with SLB's Delfi digital platform, enhancing capabilities like reservoir modeling, seismic interpretation and operational automation. These advancements are expected to drive high-value, low-carbon operations across SLB’s client portfolio.
SLB's Lumi Adheres to Leading Standards of Data Security
SLB designed the Lumi platform to adhere to industry-leading standards, including the Open Group’s OSDU Technical Standard for data liberation, and the National Institute of Standards and Technology cybersecurity guidelines. By incorporating Cognite Data Fusion technology, Lumi ensures efficient data analysis and optimized production for SLB’s energy customers.
SLB's unveiling of the Lumi platform at its Digital Forum in Monaco marks a milestone in AI-driven digital transformation for the energy industry.
SLB’s Zacks Rank & Key Picks
Currently, SLB carries a Zack Rank #3 (Hold).
Investors interested in the energy sector may look at some better-ranked stocks like TechnipFMC plc FTI, Core Laboratories Inc. CLB and VAALCO Energy, Inc. EGY, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
TechnipFMC is a leading manufacturer and supplier of products, services and fully integrated technology solutions for the energy industry, with a focus on the subsea segment in offshore basins worldwide. FTI’s growing backlog ensures strong revenue visibility and supports margin improvements.
The Zacks Consensus Estimate for FTI’s 2024 EPS is pegged at $1.34. The company has a Zacks Style Score of B for Value and A for Growth. It has witnessed upward earnings estimate revisions for 2025 in the past 30 days.
Core Laboratories, an oilfield services company, has a deep portfolio of sophisticated, proprietary products and services that positions it to take advantage of the growing maturity in the global hydrocarbon reserve base. CLB’s expanding international upstream projects indicate a positive trajectory for revenues and profitability, especially as oil demand continues to rise globally.
The Zacks Consensus Estimate for CLB’s 2024 EPS is pegged at $0.95. The company has a Value Score of B. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 30 days.
VAALCO Energy is an independent energy company involved in upstream business operations, with a diversified presence in Africa and Canada. Having a large inventory of drilling locations in premium Canadian Acreage, the company’s production outlook seems bright.
The Zacks Consensus Estimate for EGY’s 2024 EPS is pegged at $0.65. The company has a Value Score of A. It has witnessed upward earnings estimate revisions for 2024 in the past 30 days.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Schlumberger Limited (SLB) : Free Stock Analysis Report
Core Laboratories Inc. (CLB) : Free Stock Analysis Report
TechnipFMC plc (FTI) : Free Stock Analysis Report
Vaalco Energy Inc (EGY) : Free Stock Analysis Report