AIQ, ADNOC’s Artificial Intelligence (AI) joint venture with Group 42, and Beyond Limits, an industrial and enterprise-grade AI technology, have signed an MoU to explore collaboration in the development of new AI solutions that accelerate energy transition for the oil and gas industry
The partnership will support both companies’ innovation efforts in AI to empower organisations in the energy sector to boost performance, optimise operations and increase revenues. It will also see AIQ and Beyond Limits collaborate on advancing the commercialisation of AI in a way that delivers a positive impact across the oil and gas value chain.
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.”
AJ Abdallat, CEO of Beyond Limits, commented, “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 optimise processes, improve planning and increase profitability of oil and gas organisations.”
Kenneth Habson, managing director EMEA of Beyond Limits, added, “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 digitise the value chain of the oil and gas industry to enhance efficiencies and performance.”
The MoU is aligned with UAE Strategy for artificial intelligence, and to increase AI innovation and capabilities to enable the digitisation of different industries and support the realisation of the digital economy.