Beyond Limits has entered into a new partnership with Mitsui to expand access to cognitive AI solutions in the Asia Pacific (APAC) region.
The collaboration is designed to establish digital transformation and AI-readiness consulting services for Mitsui's clients in countries in the APAC region, in addition to expanding globally.
The services will first be deployed with one of the Liquified Natural Gas (LNG) Plants where Mitsui is involved as an investor, utilising Beyond Limits Cognitive AI solution to develop operational knowledge, analyse datasets, and boost production efficiency, the company states.
The AI market in the Asia-Pacific region, including software and other services, is expected to reach a value of $136 billion by 2025 according to a report by research firm Tractica.
The high market potential, coupled with growing technology adoption across traditional industries including infrastructure, energy and manufacturing, is expected to create a need for expert resources as more companies look to capitalise on digital services, Mitsui states.
Beyond Limits president APAC, Leonard Lee, says, “Beyond Limits is committed to developing AI solutions that go beyond solving today's challenges to address the needs of new industries and regions that are recognising the impact of artificial intelligence.
"We're proud to partner with Mitsui, an established leader in business development and trade in so many global industries. This collaboration is a testament to our joint commitment to building knowledge and value with AI for many sectors which are just now exploring its potential.
Mitsui managing officer and general manager of the integrated digital strategy division, Yuji Mano, says, “Mitsui announced the DX Comprehensive Strategy in November 2020. We are working to improve productivity, strengthen competitiveness, and create new business models by integrating the various sites of Mitsuis global portfolio with the power of digital.
"Through this partnership, we will accelerate our short to medium-term goals through efficiency improvement and execution of high added value of the existing business.
Mitsui deputy general manager infrastructure projects business unit Hiroki Tanabe says, “Mitsui is delighted to partner with Beyond Limits.
"We have been working on this deal for several years, and believe that the integration of Mitsui's operation technology knowledge and digital transformation expertise under global portfolio and Beyond Limits AI technology will be able to deliver impact for companies across the energy industry and beyond.
Beyond Limits is an industrial and enterprise-grade artificial intelligence company built for specific sectors including energy, utilities, and healthcare.
Beyond Limits' Cognitive AI technology combines numeric techniques such as machine learning with embedded human knowledge to provide clear, reliable recommendations.
Customers implement Beyond Limits AI to boost operational insights, improve operating conditions, enhance performance at every level, and ultimately increase profits as a result.
Mitsui is a global trading and investment company with a diversified portfolio and works in collaboration with a global network of trusted partners. The company's core business portfolio covers mineral and metal resources, energy, machinery and infrastructure, and chemicals industries.