Business Intelligence Group announces winners of the annual industry awards program
AUSTIN, Texas [January 10, 2024] — SparkCognition, a global leader in B2B artificial intelligence (AI) software solutions, today announced that its Generative AI for O&G Exploration solution has been recognized as a product winner of Business Intelligence Group’s 2024 BIG Innovation Award. The annual business awards program recognizes products, organizations, and people who are bringing new ideas to life in innovative ways. Nominations were judged by independent business leaders and executives who volunteered their time and expertise to score submissions.
“Humanity relies on innovation to improve our lives and the planet,” said Maria Jimenez, chief nominations officer, Business Intelligence Group. “We are so proud to reward the products, people. and companies helping to improve the lives of so many people.”
Generative AI for O&G Exploration accelerates the pace of imaging and exploration of subsurface structures by deploying generative AI technology and deep learning. This solution generates reliable subsurface images for identifying new oil and gas reserves using far fewer seismic shots—as little as one percent of the available data—than traditionally necessary while preserving subsurface image quality in a fraction of the time. By using advanced AI algorithms to process large amounts of data and automate the analysis, Generative AI for O&G Exploration works to improve the efficiency and speed of exploration workflows, leading to potentially increased oil production and higher success rates.
“With continued demand for fossil fuels, accelerating the discovery process for new reserves at a fraction of the historical costs can translate to lower prices for consumers at the pump,” said Bruce Porter, SparkCognition Chief Science Officer. “We’re thrilled to receive the BIG Innovation Award for our ground-breaking innovation using patented generative AI technology.”
About SparkCognition
SparkCognition’s award-winning AI solutions allow organizations to predict future outcomes, prescribe the next best actions, and help ensure worker safety. We partner with the world’s industry leaders to analyze, optimize, and learn from all types of data, augment human intelligence, drive profitable growth, and achieve operational excellence. Our patented AI technologies, including machine learning, deep neural networks, natural language processing, and computer vision, lead the industry in innovation and accelerate digital transformation. Our solutions allow organizations to solve critical problems—prevent unexpected downtime, maximize asset performance, deliver net-zero initiatives, and eliminate accidents, all while avoiding zero-day “cyberattacks. To learn more about how SparkCognition’s AI solutions can unlock the power of your data, visit www.sparkcognition.com.
