Enverus Instant Analyst™ Technology Added to its AI-powered Product Portfolio

Source: www.gulfoilandgas.com 2/20/2024, Location: North America

Enverus, the most trusted energy-dedicated SaaS company, today announced it has added Instant Analyst™ technology to its market-leading product portfolio. Built on nearly 30 years of artificial intelligence software implementation experience, the company leads the way in generative AI technology to unlock even more value for its customers.

"Enverus began the use of artificial intelligence technology in the 1990s when it deployed neural networks to accurately predict loads on electric power grids in the U.S. and Canada. Our long experience with artificial intelligence since then has positioned us well over time. In recent years we have built dozens more AI-powered products to become the clear market leader we are today. Our introduction of the Instant Analyst™ takes us to new heights of leveraging AI to help our customers in all parts of the global energy mix," said Jeff Hughes, CEO of Enverus.

With Enverus Instant Analyst™ technology, users can simply type in questions like, "Can you summarize critical KPIs of the Exxon-Pioneer deal?" or, "Which counties in Texas have the best solar development potential and why?" and get concise answers complete with links to source documents containing the research supporting the answer. Housed within the Enverus Intelligence Vault™ and numbering in the many tens of thousands, these source documents contain analytics delivered by Enverus PRISM®, further enhancing analytical transparency and building trust in the answers provided. By searching and summarizing decades of proprietary research from a curated collection of documents, the Instant Analyst™ helps dramatically reduce the time necessary to get quality answers to difficult questions. By including specific document citations in the summarized answers, quality is assured and the troublesome "hallucinations" that are commonly observed from the use of other generative AI tooling is avoided.

Beyond its debut in the Enverus Intelligence Vault™, the Enverus Instant Analyst™ technology will be deployed across the industry leading Enverus SaaS products already provided to hundreds of thousands of energy industry users. Generative AI technologies from Amazon Web Services (AWS), including Amazon Bedrock, help Enverus analyze vast data streams to provide real-time decision-making.

"Enverus is a trusted source of real-time analytics, insights and data that help energy companies act decisively and accelerate outcomes," said Howard Gefen, general manager of Energy & Utilities at AWS. "We are excited to work with Enverus to put advanced technologies like Amazon Bedrock at the center of their operations and fuel new capabilities that will help deliver more efficient, reliable and sustainable energy."

Instant Analyst™ technology will help customers across the energy industry quickly find exactly the energy industry insights and operational efficiencies that they seek. Deployment in the Intelligence Vault is only the first step. Soon to come will be automation features that make rapid analysis in applications like PRISM more powerful than ever before, and not just with Enverus data. Together with Enverus Fusion® technology, Instant Analyst™ technology will enable customers to get insights from their own data at previously impossible speeds. Utilizing trusted Enverus SaaS applications instead of other generative AI tools will also mean that customer inquiries do not publicly expose crucial proprietary information.

"It's very important that we not only continue to empower our customers but that we remain vigilant in our efforts to protect them as well," said Mark Szygenda, Chief Technology Officer for Enverus. "Customers want to get the benefits of using generative AI technology to accelerate their businesses, but they can't afford to rely on false knowledge or — even worse — leak their proprietary information or business plans. We believe we've built the technology that empowers them without adding new risks to their business."

"In addition to being powerful and secure, this product demonstrates how the long accumulation of human expertise and experience is crucial to value delivery," said Manuj Nikhanj, president of Enverus. "For as long as we've delivered artificial intelligence technology, we've also had industry-leading analysts leveraging their energy industry domain expertise whether that be in scientific, engineering, law or finance fields. Without that, there would frankly be little value for any artificial intelligence to build on. No one else can provide the level of training and supervision to an AI system that Enverus can. We are super excited that we have successfully combined the best human expertise and experience in the energy industry with the best of what computing technology can now do to enable and accelerate those experts. Our unique combination of capabilities made our Instant Analyst™ technology possible."

The Enverus Instant Analyst™ is available today in the Enverus Intelligence Vault™ on a trial basis for a select group of Enverus customers with access to Enverus Intelligence®. Access to Enverus Instant Analyst™ technology will grow rapidly in the weeks and months ahead.

Members of the media should contact Jon Haubert for a demonstration of Enverus Instant Analyst™ technology or to schedule an interview with one of Enverus' expert analysts.

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