AIQ, Adnoc’s Artificial Intelligence (AI) joint venture with Group 42, and Beyond Limits, a pioneer in AI technology, have signed an agreement to explore new AI solutions that spur energy transition for the oil &gas industry.
The partnership will support both companies’ innovation efforts in AI to empower organizations in the energy sector to boost performance, optimize operations and increase revenues. It will also see AIQ and Beyond Limits collaborate on advancing the commercialization of AI in a way that delivers a positive impact across the oil &gas value chain.
The memorandum of understanding (MoU) was signed by Omar Al Marzooqi, CEO of AIQ and AJ Abdallat, CEO of Beyond Limits.
AIQ and Beyond Limits will leverage each other’s regional and global footprints, technology portfolios and partnerships, to expand and scale on a global level.
Omar Al Marzooqi, CEO of AIQ said: “This collaboration will allow both companies to strengthen their portfolios of enterprise grade AI solutions for the energy industry. We truly believe that AIQ’s and Beyond Limits’ experiences in delivering tailor-made applications will accelerate digital transformation and energy transition in the UAE and beyond. We welcome Beyond Limits as our new partner and look forward to jointly deliver breakthrough cognitive AI solutions across the whole Oil &Gas value chain.”
AJ Abdallat, CEO of Beyond Limits, said: “We are very excited about this collaboration with AIQ, through which we will work to enable the wider oil and gas industry to become more agile and effective, through the use of AI. The new avenues of advanced technology we will explore together with AIQ will unlock efficiencies across the entire oil and gas value chain. We trust our collaboration will accelerate the development of new AI solutions that shall optimize processes, improve planning and increase profitability of oil and gas organizations.”
Kenneth Habson, Managing Director EMEA of Beyond Limits, said: “Research and development is a key priority for Beyond Limits in the region, as we look to stimulate innovation in AI, accelerate the adoption of advanced technologies and further digitize the value chain of the oil &gas industry to enhance efficiencies and performance.
“We align with AIQ to achieve these goals and believe our collaboration will create a solid platform to empower the commercialization of AI and help raise awareness among decision makers of the value that AI brings to solving some of the most pressing challenges organizations face in the industry.” – TradeArabia News Service