AIQ Debuts on Global Stage, Sharing Vision for the Future of Energy at Baku Energy Week

• AI In Energy Leader: Recently valued at $1.4B, AIQ emerges as a Gold Sponsor of the Baku Energy Forum and the Caspian Oil & Gas Exhibition
• Forum Insights: On the Forum’s main stage, AIQ will share insights for maximizing the value of AI in energy transition
• Interactive Demos: As a showcase of AI in action, AIQ will present its latest interactive product installations and live demos at the stand at the Caspian Oil & Gas conference

Azerbaijan, Baku, [30 May 2024] - AIQ, the Abu Dhabi-based AI champion delivering transformative solutions to the Energy sector, announces its inaugural Gold Sponsorship participation in Baku Energy Week, a leading global energy event, which comprises the Caspian Oil & Gas Exhibition, the Caspian International Power & Green Energy Exhibition, and the Baku Energy Forum. The gatherings take place in the Azerbaijan capital Baku between 4-6 June.

Dr. Chris Cooper, CEO of AIQ, will deliver an insightful speech on the main stage of the Baku Energy Forum, where he will offer AIQ’s outlook on the critical role of AI in fostering innovation and competitiveness in the Energy sector. AIQ's Chief Technology Officer, Saravan Penubarthi, is also set to participate in a panel discussion titled, ‘Pioneering AI in Energy’ at the Caspian Oil & Gas Conference. Their insights and expertise will provide a comprehensive understanding of AIQ's groundbreaking innovations and real-world applications, underscoring the organization's drive to become a leading AI for Energy provider, globally.

In addition, exhibiting from Stand 1234 in the Caspian Oil & Gas Exhibition, AIQ will showcase an array of its cutting-edge AI-first solutions and interactive demos, tailored to the Energy sector, all engineered to add greater efficiency to operations, maintain 100% HSE environments, and support carbon emission abatement and transition efforts.

Commenting on AIQ’s presence at Baku Energy Week, Dr. Chris Cooper said, “This event is the perfect opportunity for us to share our vision of the future of Energy and showcase to an international audience how we are implementing industry-leading AI solutions today, and how they are resonating with customers and driving significant value gains across the entire Energy value chain. We are driving autonomous AI-based capabilities to the heart of the Energy value chain, resulting in massive improvement in safety and efficiency gains.”

Dr. Cooper continued, “We are proud of the innovation we have developed from our base in the UAE in our relatively short lifespan, and we are now at the point in our development where we are looking to engage with customers in new geographies to help accelerate the global energy transition, leveraging AI solutions, including new Generative AI models we have under development.”

In a little over three years of commercial operation, AIQ has developed more than 20 cutting-edge products, three of which will be showcased in Baku:

• RoboWell – The world’s first autonomous well control solution for gas-lifted wells enables self-adjustment to maximize production within specified operating conditions. The solution adds up to 30% optimization in gas lift consumption, resulting in up to 5% production increase from existing wells.
• AR360 – A data-driven Intelligent reservoir management and production optimization solution offering a 360º view of your reservoir, incorporates all subsurface data into a single integrated system, using AI and automation to optimize field development plans. It helps drive up to 20% extension in the life of active wells, resulting in a 5-10% cost reduction in drilling new infill wells, and driving up to 75% efficiency gain in reservoir model reviews.
• SMARTi – Developed to improve health and safety in industrial environments, using AI-enabled computer vision of existing CCTV feeds for intelligent monitoring, detection and reporting of safety protocol violations and incidents. SMARTi catches violations and incidents at 90%+ accuracy.

The company’s presence in Baku affirms AIQ’s ambition to enter new geographic markets and widen its customer base following the announcement at the start of May 2024, of the acquisition by UAE big data analytics and AI company, Presight (ADX: Presight) of a controlling stake in AIQ.