Advanced Materials (AMs) are specially engineered — at the molecular level — to exhibit innovative or improved properties, compared to conventional materials. AMs allow multiple innovative applications, transforming the engineering scenario. AM size scale can be variable — from nanometers to meters — based on the desired application. These materials have transformed every industrial revolution, as AMs enable innovation. The oil and gas industry benefited from advances in material engineering to mitigate multiple operational challenges. Recent efforts have been made to design nanomaterials, nanodevices, and smart downhole tools with superior performance and specification ranges. This webinar highlights the latest progress on AMs, with a specific focus on application for reservoir characterization and formation evaluation. We identify specific challenges associated with current technologies, based on conventional materials; and propose opportunities in designing novel materials, and the fabrication of innovative tools and devices. Moreover, we will not only focus on the engineering aspects of designing AMs with novel properties, but also emphasize business impact opportunities relevant to the upstream sector of the oil industry.