Baker Hughes, a GE company (NYSE:BHGE) and C3.ai today announced a joint
venture agreement that brings together BHGE’s fullstream oil and gas
expertise with C3.ai’s unique AI software suite to deliver digital
transformation technologies that will drive new levels of productivity
for the oil and gas industry.
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AI in the oil and gas segment helps improve overall performance by
ingesting massive quantities of data, becoming intelligent about
specific operational environments and predicting problems before they
occur so that operators can improve planning, staffing, sourcing and
safety. This joint venture combines BHGE’s extensive oil and gas
technology domain expertise with C3.ai’s unique AI software suite and
solutions, creating new opportunities for the sector.
“The oil and gas industry is rapidly evolving, and digital technology is
critical to achieving increased levels of productivity, efficiency and
safety for ourselves and for our customers,” said Lorenzo Simonelli,
BHGE chairman and CEO. “This agreement is a mutual recognition of the
technology leadership we each bring to the table and a willingness to
work in new ways that deliver the best possible outcomes for our
customers. Integrating our strong digital capabilities and oil and gas
industry expertise with C3.ai’s unique AI solutions, we will accelerate
the overall digital transformation of this industry.”
“The oil and gas sector is undergoing a digital transformation to
improve efficiencies and increase safety, while simultaneously reducing
environmental impact,” said Thomas M. Siebel, CEO, C3.ai. “These changes
will be driven through advanced AI use cases deployed across the entire
oil and gas value chain. BHGE is a technology-first company with deep
expertise, a global footprint and strong relationships across the
industry. Combining its strengths with the unique industrial AI
capability of C3.ai, we will deliver transformative change to one of the
world’s most important industry sectors.”
The companies will immediately market and deploy C3.ai’s AI technology,
including the C3 AI Suite and applications, into oil and gas businesses.
BHGE and C3.ai will also leverage BHGE’s existing digital portfolio to
collaborate on new integrated AI applications specific to oil and gas,
and offer combined teams of oilfield and AI expertise deployed directly
into customer environments to deliver AI solutions that meet specific
business needs. Simplifying the approach to AI with this combined
offering will help customers focus on what matters most – running their
oil and gas business safely and efficiently.
“Shell utilizes the C3.ai platform to accelerate digital transformation
across our business, focusing on using AI and machine learning to
improve overall operations starting with predictive maintenance,” said
Shell Group CIO Jay Crotts. “Shell also has a long-standing relationship
with BHGE in oilfield services and software development. There is real
potential in exploring the fusion of existing oilfield technology and
emerging digital technology, in this case combining C3.ai’s capabilities
with BHGE’s domain expertise to create new solutions that truly address
oil and gas specific challenges with powerful advanced analytics
technology.”
Under the terms of the agreement, BHGE has taken a minority equity
position in C3.ai and will have a seat on C3.ai’s board of directors.
BHGE will also accelerate its own use of AI, deploying the C3 AI Suite
across its business to enable new BHGE AI applications that improve core
operations and better serve customers with AI-enabled products and
services.
About Baker Hughes, a GE company
Baker Hughes, a GE company (NYSE: BHGE), is the world’s first and only
fullstream provider of integrated oilfield products, services and
digital solutions. It deploys minds and machines to enhance customer
productivity, safety and environmental stewardship, while minimizing
costs and risks at every step of the energy value chain. With operations
in over 120 countries, Baker Hughes infuses over a century of experience
with the spirit of a start-up — inventing smarter ways to bring energy
to the world. Learn more at: www.BHGE.com
About C3.ai
C3.ai is a leading AI software provider for accelerating digital
transformation. C3.ai delivers the C3 AI Suite for developing,
deploying, and operating large-scale AI, predictive analytics, and IoT
applications in addition to an increasingly broad portfolio of turn-key
AI applications. The core of the C3.ai offering is a revolutionary,
model-driven AI architecture that dramatically enhances data science and
application development. More at: www.C3.ai
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