AIQ, the Abu Dhabi National Oil Company’s (ADNOC) Artificial Intelligence (AI) joint venture with Group 42, and the US-based Beyond Limits, a pioneer in industrial and enterprise-grade AI technology, have signed a Memorandum of Understanding (MoU) to develop new AI solutions that accelerate energy transition for the oil & gas industry.
The AI innovation will boost performance, streamline operations, and generate revenue in the energy sector. The partnership will also enable AIQ and Beyond Limits to advance AI commercialization in a way that it has a beneficial impact across the oil and gas value chain.
The MoU was signed by Mr. Omar Al Marzooqi, CEO of AIQ and Mr. AJ Abdallat, CEO of Beyond Limits. Both entities will leverage each other’s regional and global footprints, technology portfolios and partnerships, to expand and scale on a global level.
“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 tailored 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.”
Mr. AJ Abdallat said that “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 agreement is in line with UAE Strategy for AI to increase 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 conventional oil & gas industries in UAE and beyond.