Artificial Intelligence (AI) startups in Abu Dhabi are forging new relationships through strategic collaboration. AIQ is an innovative technology joint-venture between ADNOC and G42. ADNOC signifies the national oil company of Abu Dhabi. G42 is one of the world’s premier AI and cloud computing brands. The deal is worth $1.4 billion valuing AIQ.
As a result, ADNOC is now the owner of 49% stake at AIQ. Finally, ADNOC attains 4% ownership in Presight. The strategy envisages AI deployment across different operational spheres of ADNOC. AIQ will remain Presight the dedicated portfolio company. AIQ, which is based on AI and machine learning, is used for oil and gas processes.
As CEO of AIQ, Chris Cooper articulated on the integration sequences “We were nourished from ADNOC’s big data and insights,” he asserted. Besides, “G42 came into the fore with hardware and software for our AI models.” This is why we now have the world reach to provide our UAE-built solutions wherever needed.
The purchase totally matures AIQ’s earlier ownership – 60% ADNOC and 40% G42. The current CEO of ADNOC, Sultan Al Jaber is going to be chairman of AIQ. He champions industrial and technology development in the UAE.
AI research and investments are speeding up in Abu Dhabi. Not long ago, Microsoft invested in G42 an amount of $1.5 billion. This increases opportunities to work on expansion. Alongside, this will help gain UAE the recognition of a technopreneurship hub as well.
The strategic actions signal Abu Dhabi’s strong partnership with AI. It further envisions enhanced sustainability and operational efficiency. The deals open a door for major energy companies to get into the local oil and gas sector. Actually, Abu Dhabi sets synergies between national corporations. On the whole, industry aim is learning how to use AI’s capabilities in industries.
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