SLB launches AI-powered Lumi platform

Rhea-AI Summary

SLB (NYSE: SLB) has launched the Lumi™ data and AI platform, integrating advanced AI capabilities, including generative AI, with workflows across the energy value chain. The platform aims to accelerate AI adoption at scale for SLB's global customers in the energy industry. Key features include:

- Open, secure, and modular design
- Access to high-quality data across various domains
- Embedded large language models (LLMs) and industry-optimized domain foundation models
- Availability on major cloud service providers and on-premises
- Compliance with NIST cybersecurity standards and emerging AI regulations

The Lumi platform is expected to enhance SLB's Delfi™ digital platform, enabling more powerful reservoir modeling, seismic interpretation, and operational efficiencies for energy customers.

Positive

• Launch of Lumi™ data and AI platform, integrating advanced AI capabilities across the energy value chain
• Platform designed to accelerate AI adoption at scale for global customers
• Availability on major cloud service providers and on-premises, ensuring wide accessibility
• Integration of latest large language models and industry-optimized domain foundation models
• Enhancement of Delfi™ digital platform, potentially improving reservoir modeling and operational efficiencies

Negative

• None.

Insights

Tech Expert

SLB's launch of the Lumi™ data and AI platform marks a significant advancement in AI integration for the energy sector. The platform's ability to incorporate generative AI and large language models (LLMs) across the energy value chain is particularly noteworthy. By leveraging industry-optimized domain foundation models, Lumi has the potential to accelerate AI adoption at scale, which could lead to more efficient operations and improved decision-making processes.

The platform's open architecture and compatibility with major cloud providers and on-premises systems ensure wide accessibility, which is important for rapid industry adoption. The integration of OSDU® Technical Standard and Cognite Data Fusion® demonstrates a commitment to interoperability and data standardization, addressing a long-standing challenge in the energy industry. This could significantly enhance cross-domain collaboration and data utilization efficiency.

From an investor's perspective, SLB's strategic move positions the company at the forefront of digital transformation in the energy sector, potentially leading to new revenue streams and increased market share in the digital solutions space.

Financial Analyst

The launch of the Lumi™ platform represents a strategic move by SLB to capitalize on the growing demand for AI-driven solutions in the energy sector. While specific financial projections are not provided, this initiative has the potential to positively impact SLB's revenue streams in several ways:

• Increased software and service sales to existing clients
• Attraction of new customers seeking advanced AI capabilities
• Potential for recurring revenue through subscription-based models

Moreover, by enhancing its Delfi™ digital platform with Lumi's capabilities, SLB is likely to strengthen its competitive position in the digital oilfield services market. This could lead to improved market share and potentially higher profit margins as digital solutions often carry better margins than traditional oilfield services.

Investors should monitor the adoption rate of the Lumi platform and its impact on SLB's digital segment revenue in upcoming quarterly reports to gauge the success of this strategic initiative.

New platform accelerates advanced data and AI capabilities at scale for SLB’s customers across the energy industry

MONACO--(BUSINESS WIRE)-- Global energy technology company SLB (NYSE: SLB) today launched the Lumi™ data and AI platform, which integrates advanced artificial intelligence (AI) capabilities—including generative AI—with workflows across the energy value chain.

The Lumi platform is built on the latest industry standards and will be available on all major cloud service providers as well as on-premises, ensuring its availability to SLB’s global customer base. (Photo: Business Wire)

The open, secure and modular platform unlocks access to high-quality data across subsurface, surface, planning and operations, increasing cross-domain collaboration and releasing new intelligence and insights to improve the quality and speed of decision making at enterprise-level. The latest large language models (LLMs) as well as industry-optimized domain foundation models from SLB will be embedded in the platform, enabling customers to accelerate AI adoption at scale.

“AI is fundamentally altering the dynamics of our industry, but its transformational potential is hindered by the complexity of our industry’s data ecosystems,” said Rakesh Jaggi, president, Digital and Integration, SLB. “Through the Lumi data and AI platform, we will liberate and contextualize data for our global customers across domains – enabling them to scale advanced AI workflows and accelerate their ongoing digital transformation.”

The Lumi platform is built on the latest industry standards and will be available on all major cloud service providers as well as on-premises, ensuring its availability to SLB’s global customer base. SLB’s customers can train and deploy industry-specific traditional and generative AI models, including foundational models for exploration and production (E&P) by SLB. This will fundamentally transform data-driven decision-making, operations automation and real-time optimizations across the entire energy value chain.

SLB’s Delfi™ digital platform will be enhanced by leveraging the data foundations and machine learning capabilities of the Lumi platform. This will enable more powerful and agile reservoir modeling, seismic and wellbore interpretation, directional drilling and geosteering workflows. It also will enable new capabilities for automation and operational efficiencies so energy customers can drive high-value, low-carbon operations.

The Lumi platform integrates technologies from leading technology partners with SLB’s digital and domain expertise to facilitate access to data and AI capabilities across the energy production cycle. The open architecture of the platform liberates data from structured and unstructured sources using standard and open protocols, including the Open Group’s OSDU^® Technical Standard, an open data standard for the energy industry. It leverages Cognite Data Fusion^® to connect and analyze production data to optimize operations. The platform also complies with the National Institute of Standards and Technology (NIST) cybersecurity standards and emerging AI standards and legislation.

Today’s announcement was made at the SLB Digital Forum, which is taking place this week in Monaco.

For more information on the Lumi data and AI platform, visit slb.com/Lumi.

About SLB

SLB (NYSE: SLB) is a global technology company that drives energy innovation for a balanced planet. With a global footprint in more than 100 countries and employees representing almost twice as many nationalities, we work each day on innovating oil and gas, delivering digital at scale, decarbonizing industries, and developing and scaling new energy systems that accelerate the energy transition. Find out more at slb.com.

Cautionary Statement Regarding Forward-Looking Statements:

This press release contains “forward-looking statements” within the meaning of the U.S. federal securities laws — that is, statements about the future, not about past events. Such statements often contain words such as “expect,” “may,” “can,” “estimate,” “intend,” “anticipate,” “will,” “potential,” “projected" and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as forecasts or expectations regarding the deployment of, or anticipated benefits of, SLB’s new technologies and partnerships; statements about goals, plans and projections with respect to sustainability and environmental matters; forecasts or expectations regarding energy transition and global climate change; and improvements in operating procedures and technology. These statements are subject to risks and uncertainties, including, but not limited to, the inability to achieve net-negative carbon emissions goals; the inability to recognize intended benefits of SLB’s strategies, initiatives or partnerships; legislative and regulatory initiatives addressing environmental concerns, including initiatives addressing the impact of global climate change; the timing or receipt of regulatory approvals and permits; and other risks and uncertainties detailed in SLB’s most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. The forward-looking statements speak only as of the date of this press release, and SLB disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240916077102/en/

Media

Moira Duff – Director of External Communications

SLB

Tel: +1 (713) 375-3407

media@slb.com

Investors

James R. McDonald – SVP of Investor Relations and Industry Affairs

Joy V. Domingo – Director of Investor Relations

SLB

Tel: +1 (713) 375-3535

investor-relations@slb.com

Source: SLB

FAQ

What is the Lumi™ data and AI platform launched by SLB (NYSE: SLB)?

The Lumi™ data and AI platform is a new offering from SLB that integrates advanced AI capabilities, including generative AI, with workflows across the energy value chain. It aims to accelerate AI adoption at scale for SLB's global customers in the energy industry.

How will the Lumi platform benefit SLB's customers in the energy industry?

The Lumi platform will provide SLB's customers with access to high-quality data across various domains, enable training and deployment of industry-specific AI models, and facilitate more powerful reservoir modeling, seismic interpretation, and operational efficiencies.

Where will the Lumi platform be available for SLB's customers?

The Lumi platform will be available on all major cloud service providers as well as on-premises, ensuring its accessibility to SLB's global customer base.

How does the Lumi platform comply with industry standards and regulations?

The Lumi platform complies with the National Institute of Standards and Technology (NIST) cybersecurity standards and emerging AI standards and legislation. It also leverages the Open Group's OSDU® Technical Standard for data integration in the energy industry.