Baker Hughes, a GE Company and C3.ai Announce Joint Venture to Deliver AI Solutions Across the Oil and Gas Industry
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