Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

Saudi Data and Artificial Intelligence Authority (SDAIA) and IBM said on Tuesday they had inked a strategic agreement to drive adoption of artificial intelligence in the carbon capture and industrial domains across Saudi Arabia.

The first use case under the agreement will be in collaboration with the Ministry of Energy in Saudi Arabia, the entities said.

IBM, SDAIA and Ministry of Energy will employ artificial intelligence technology to detect, map and eventually reduce carbon emissions across the Kingdom.

As part of the agreement, IBM is to cooperate with SDAIA to identify high value applications of artificial intelligence and machine learning to find resolution to challenges in public and private sector organizations in Saudi Arabia, while aiming to support the Kingdom’s sustainability and industrialization objectives.

“This agreement with IBM will contribute to creating opportunities by addressing key challenges in circular carbon economy, petrochemical and industrial domains, through the development of innovative solutions in the field of data and artificial intelligence, and the exchange of shared experiences and investment opportunities in this vital area to support achieving the goals of Vision 2030,” Majid Al-Tuwaijri, Chief Executive Officer for the National Center for AI, said in a press release.

“The management of greenhouse gas emissions is critical to the Kingdom’s reaching its objective of net zero,” Dina Abo-Onoq, Managing Partner, IBM Consulting Saudi Arabia, said.

“Using multiple satellites and different types of imaging technologies, we will train an AI model to recognize and pinpoint different forms of gas across the entire country. By doing so, this will help with earlier and better visibility of the problem which has not been possible with conventional measurement approaches.”

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Related News

  • Natural gas trading outlook: futures steady ahead of EIA inventory dataNatural gas trading outlook: futures steady ahead of EIA inventory data Natural gas was little changed in early European trading on Thursday following three days of hefty gains as investors braced for the Energy Information Administrations weekly stockpiles data, while weather forecasts continued to call for very […]
  • WTI Futures Daily Trading ForecastWTI Futures Daily Trading Forecast During Monday’s trading session WTI futures for delivery in May traded within the range $99.92-$101.32 and closed at $100.44 per barrel.At 14:34 GMT today WTI futures for settlement in May traded at $100.93 per barrel, adding 0.49% for […]
  • Bernstein Turns Bullish on Analog Devices After Q3 BeatBernstein Turns Bullish on Analog Devices After Q3 Beat Key Moments Bernstein raised Analog Devices (NASDAQ:ADI) to Outperform from Market Perform and increased its price target to $465 from $430. Fiscal third-quarter revenue of $4.022 billion and EPS of $3.45 exceeded Street […]
  • Forex Market: USD/CAD daily trading forecastForex Market: USD/CAD daily trading forecast Yesterday’s trade saw USD/CAD within the range of 1.3129-1.3240. The pair closed at 1.3172, down 0.15% on a daily basis, while extending losses from Wednesday.On Thursday US dollar was put under pressure, as it became clear US economy […]
  • Hilton Worldwide Holdings Inc share price up, posts upbeat quarterly results, raises full-year outlookHilton Worldwide Holdings Inc share price up, posts upbeat quarterly results, raises full-year outlook Hilton Worldwide Holdings, the worlds largest hotel operator, raised its full-year guidance after its first-quarter net profit almost quadrupled thanks to strong business and leisure travel and higher room rates.Hilton reported that its […]
  • Crude oil futures decline on downbeat China dataCrude oil futures decline on downbeat China data Both West Texas Intermediate and Brent crude benchmarks fell on Monday as overnight data showed a third consecutive monthly contraction in Chinas factory production, spurring demand concerns from the worlds second biggest oil consumer. A […]