CERAWeek by S&P Global - an annual global energy conference focusing on the industry's biggest goals and challenges - has officially begun. The conference is aimed at bring world leaders and experts in the energy sector together to discuss themes and challenges presented in the modern day. One of the top themes is artificial intelligence and how it can permeate within the sector to solve problems.
Head of Energy and Natural Resources at Palantir, Matt Babin, (PLTR) joins Yahoo Finance to discuss the energy transition, AI, and more covered at CERAWeek.
In terms of concrete examples of what AI can do in the sector, Babin states: "Let's say that I'm a petroleum engineer working on an asset. I'm trying to answer the question of 'is my asset producing as well as it can?' But what does 'well' mean? Does it mean as many barrels of oil as possible? Does it mean as little water? Does it mean lower carbon? Does it mean lower cost of maintenance? It could mean any of those things and those all pull different data sets at different times from different tools. You can use a large language model to help answer that question and that enables you to then solve different objective functions at different times."
Watch the video above to hear Babin explain why the energy sector is a big one for Palantir.
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