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Startup accelerator Hub71 joins AIQ to develop AI for the energy sector

The partnership will open access for AIQ to Hub71’s ecosystem, where it can interact with startups working on AI for sustainable energy.

[Source photo: Anvita Gupta/Fast Company Middle East]

A McKinsey report found that AI adoption during 2021 increased to 56% in the Middle East. Another research predicts that more than 90% of the firms globally will be using AI by the end of this year. A similar number of firms have also reported a cost reduction after adopting AI into business operations.

To explore AI’s role in shaping the energy sector’s future, Abu Dhabi’s startup accelerator, Hub71, teamed up with AIQ. Formed to develop AI for sustainable energy, AIQ is a joint venture between Abu Dhabi National Oil Company (ADNOC) and Group 42. The collaboration aims to boost oil and gas extraction using smart tech, making the industry more carbon-efficient for a green future.

As part of the partnership, AIQ will enter Hub71’s tech ecosystem, where it can directly interact with startups working on AI for the energy sector. The AIQ will unlock access to E-Novus, a platform allowing oil and gas firms to accelerate digital transformation. The ADNOC-backed organization will also participate in Hub71’s Outliers program, where startups solve challenges created by companies and governments.

AIQ will also support the mentorship initiative at Hub71, which is home to startups from 25 countries, for sharing knowledge about tech-enabled solutions.

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