Cognite, a global industrial artificial intelligence (AI) software company, and Wood, a global engineering and consulting company, have agreed to a strategic partnership that will accelerate industrial transformation by creating AI solutions that enable more connected, sustainable and data-driven operations for heavy-asset, infrastructure and industrial clients.
The collaboration will deliver value faster and at scale, combining Cognite’s flagship product, Cognite Data Fusion, with Wood’s multi-sector domain knowledge, data extraction and technology integration expertise to optimise productivity and performance.
Both companies are committed to deploying performance solutions that address the needs of the energy transition, with the collaboration allowing for greater understanding of existing assets and operations, liberating vast amounts of data trapped in fragmented and legacy systems.
President of Automation and Control at Wood, Mark House, said: “Wood and Cognite will leverage physics-based models and AI to quickly provide advanced analytics that drive more profitable and sustainable industrial operations.
“Through the partnership, we are addressing a familiar challenge in industry when operational and information technology converge.”
John Markus Lervik, CEO of Cognite, said: “Working with Wood presents a fantastic opportunity for us to deliver value faster and at scale by playing to each of our strengths. The partnership embraces scalable innovation and value realisation which is accelerated by combining what both Wood and Cognite are best known for in the market.”
Through Cognite Data Fusion, data will be transformed from siloed raw information into meaningful digital insights in real-time, to make faster and better-informed business and operational decisions.
“Adding Cognite’s advanced AI data contextualisation and operations product to Wood’s technology partnership ecosystem is an exciting step as we innovate in connected operations solutions,” said Darren Martin, Wood’s Chief Technology Officer. “This collaboration will further enable us to meet the ambitions of our clients and empower them to be future ready now.”
Read the article online at: https://www.hydrocarbonengineering.com/refining/20112020/wood-and-cognite-unite-to-unlock-artificial-intelligence-solutions-for-industrial-operations/