New AI solutions to optimise processes, improve planning and increase profitability for Adnoc and the wider oil and gas industry. Adnoc has launched an artificial intelligence (AI) joint venture with Abu Dhabi’s Group 42. Partnership model allows Adnoc to develop AI solutions and applications in a cost-efficient way and strengthens Abu Dhabi’s and our nation’s position as a global hub for AI and technology driven industrial growth. The companies signed an agreement setting out the plan in November 2019, at the Adipec conference. Adnoc will hold a 60% stake in the venture, AIQ, while G42 will hold the remaining 40%. joint venture will focus on bringing AI products to bear on the oil and gas industry. G42 brings expertise in modelling, supercomputing and its own team of data scientists. Adnoc has the energy industry knowledge and “vast amounts” of data.
Teaming up with G42 enables us to accelerate Adnoc’s adoption of advanced technologies and further digitalise our value chain to enhance efficiencies, performance and agility. Adnoc is working on a number of computing initiatives. These include its Panorama program and a blockchain project. diplomatic initiatives between the UAE and Israel, G42 announced plans to set up an office in Israel. This will focus on healthcare, although the company also noted interest in renewable energy research.