SLB launches AI product to focus on digital sales growth

SLB, a technology company in the energy sector, launched on Monday a new artificial-intelligence tool to automate workflows and processes for companies looking to use AI to boost growth.

SLB's Tela technology will be integrated into its portfolio of platforms and applications. Users will be able to interact with the system through a conversational interface.

Tela agents are capable of working in conjunction with humans, or autonomously, to make decisions about things such as interpreting well logs or predicting drilling problems, or optimizing the performance of equipment.

Rakesh Jaggi is the president of Digital & Integration at SLB. He said, "We have been very successful in this (AI business) for many years. Digital will absolutely be an integral part to the success of SLB many decades from now." Jaggi stated that the industry is facing a double challenge today: a smaller workforce and a greater technical complexity. Tela can help address both. Energy companies are facing a drop in crude oil prices due to the OPEC+ oil producers increasing their output. They have cut thousands of jobs this year in order to reduce costs and maintain profits.

Digital sector revenue grew by 11% from the second to the third quarter.

The company started reporting its digital business separately in the last quarter, and it forecasts double-digit growth for the segment year-on-year.

Shares of SLB (formerly Schlumberger) rose 2.8% to $37.10.

(source: Reuters)