AIQ and Beyond Limits sign an MoU for AI innovation in oil & gas industry

Beyond Limits, AIQ, ADNOC’s Artificial Intelligence (AI) joint venture with Group 42, signed a Memorandum of Understanding to explore collaboration in the development of new AI solutions that accelerate energy transition for the oil and gas industry.

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 collaboration will promote both firms’ AI innovation initiatives in order to help organisations in the energy sector improve performance, streamline operations, and generate revenue. AIQ and Beyond Limits will also work together to advance AI commercialization in a way that has a beneficial impact across the oil and gas value chain.

Omar Al Marzooqi, CEO of AIQ, and AJ Abdallat, CEO of Beyond Limits, signed the Memorandum of Understanding.

AIQ and Beyond Limits will combine their regional and global presence, technological portfolios, and collaborations to expand and scale globally.

The Memorandum of Understanding is in line with the UAE’s Artificial Intelligence Strategy, which aims to boost AI innovation and capabilities in order to promote the digitization of various industries and the implementation of the digital economy. The capabilities of AIQ and Beyond Limits will yield positive outcomes for traditional oil and gas enterprises in the UAE and beyond in terms of AI innovation, technological advancement, and digital transformation.