The agreement being signed Hub71, Abu Dhabi's global tech ecosystem, is to partner with AIQ, the Abu Dhabi National Oil Company's (Adnoc) artificial intelligence (AI) venture, to explore advancing AI solutions that support a sustainable energy future.
Under the agreement, Hub71 and AIQ will work together to advance the development of innovative digital technology to unlock greater value from oil and gas operations and define a more sustainable and carbon efficient future for the oil and gas industry.
The agreement will thus advance Abu Dhabi's growing status as a global centre for next generation industrial development.
Badr Al-Olama, Acting Chief Executive Officer of Hub71, said: "Tomorrow's world will be driven by AI technology that continues to enhance and transform many economic sectors like energy and industry. Our partnership with AIQ comes at a time when we are attracting tech startups to the nation to deepen the expertise and knowledge, while promoting a net zero future for all."
The partnership will enable Hub71 to introduce AIQ to its tech eco-system and facilitate one-on-one meetings with startups working on future energy technology solutions for the oil and gas industry.
In return, AIQ will provide access to its E-Novus platform, a data management tool for oil and gas enterprises seeking to accelerate digital transformation and energy transition.
AIQ will also participate in Hub71's The Outliers programme, a series of challenges set by corporations and government for startups to solve and support Hub71's Mentorship Programme to promote knowledge exchange around tech-enabled solutions that have the potential to be commercialised in the global energy market.
Omar Al Marzooqi, Chief Executive Officer, AIQ, said: "AI solutions are critical to the future sustainability of the oil and gas industry. AIQ's collaboration with Hub71 will enable a strong networking platform for Hub71's startup tech companies to participate in Adnoc's and the wider oil and gas industry's digital transformation and support the growing status of Abu Dhabi as a global center for next generation industrial development."
Hub71 is home to startups from 25 countries worldwide operating in 18 sectors, including artificial intelligence, big data, and analytics.
Through its partnerships, Hub71 connects entrepreneurs with impact-driven investors and corporates and supports them with scaling their businesses and accessing markets.-- TradeArabia News Service