Companies sign Memorandum of Understanding to jointly boost innovation and AI commercialization to support oil and gas organizations in the UAE

 Abu Dhabi : AIQ, ADNOC’s Artificial Intelligence (AI) joint venture with Group 42, and Beyond Limits, a pioneer in industrial and enterprise-grade AI technology, signed a Memorandum of Understanding to explore collaboration in the development of new AI solutions that accelerate 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 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.”

The Memorandum of Understanding is aligned with UAE Strategy for Artificial Intelligence, and to increase AI innovation and capabilities to enable the digitization of different industries and support the realization of the digital economy. AIQ and Beyond Limits’ capabilities will deliver fruitful results for AI innovation, technological development and digital transformation of traditional oil & gas organizations in UAE and beyond.

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