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Partnership set to promote AI awareness in energy and industrial sectors

22nd October 2020

Beyond Limits and The Carnrite Group have announced a multimillion-dollar revenue driving agreement to provide strategic consulting services on the state of AI technologies and innovative use cases for Carnrite’s client base across the globe in the oil and gas, utilities, power and industrials sectors.

Additionally, The Carnrite Group will receive IP licensing rights to Beyond Limits’ cutting-edge Cognitive AI technology, providing customers with direct access to Beyond Limits’ solutions.

“This is a very exciting time for Beyond Limits to gain such a valuable partner as The Carnrite Group,” AJ Abdallat, CEO and founder of Beyond Limits, said. “Through Carnrite’s vast network, we hope to provide valuable guidance and increase awareness of the benefits of AI in critical sectors, including boosting operational insights, improving operating conditions, and ultimately, increase adoption of this next generation technology.”

Many sectors are experiencing a significant surge in demand for AI. This is particularly true in the energy and industrial sectors, where continued commodity price volatility has forced companies to find innovative ways to further reduce costs. The AI market is expected to rise to $7.78 billion by 2024, an increase of 22.49 per cent from 2019. 

“The Carnrite Group prides itself on helping clients address complex challenges and make difficult business decisions,” said Al Carnrite, CEO of The Carnrite Group. “Our agreement with Beyond Limits allows us to add their powerful Cognitive AI to our portfolio of consulting services while reinforcing our commitment to offer technologies that create value for our clients.”

Founded in 2014, Beyond Limits leverages a significant investment portfolio of advanced technology developed at Caltech’s Jet Propulsion Laboratory for NASA space missions.

 

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