Baker Hughes Enters JV to Deploy Artificial Intelligence
Baker Hughes, a GE Company (BHGE) has entered into a joint venture with Artificial Intelligence (AI) software provider C3.ai to accelerate the digital transformation in the oil and gas industry.
C3.ai’s AI suite and applications will be deployed into BHGE’s business and leverage the oilfield services company’s existing digital portfolio.
“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,” BHGE CEO Lorenzo Simonelli said in a company statement. “This agreement is a mutual recognition of the technology leadership we each bring to the table and a willingness to work in new ways … 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.”
Under the terms of the joint venture agreement, BHGE will take a minority equity position in C3.ai and will have a seat on C3.ai’s board of directors.
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