ADNOC Enhances Digital Shift via Pioneering AI Initiative

Published Date: 12/09/2024

Abu Dhabi National Oil Company's new AI program, ENERGYai, aims to drive efficiency, sustainability, and growth across its operations.

The Crown Prince of Abu Dhabi has endorsed Abu Dhabi National Oil Company's (ADNOC) innovative Artificial Intelligence and Digital Technology (AIDT) strategy, ENERGYai. This program is designed to harness the power of AI to drive efficiency, sustainability, and growth across ADNOC's operations.

His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, praised ADNOC for leveraging AI in its decarbonization programs during the UAE's Year of Sustainability. He highlighted the critical role AI plays in optimizing energy production, allowing ADNOC to produce maximum energy with minimum emissions.

The Crown Prince directed ADNOC to carefully integrate ENERGYai in order to set new standards for producing cleaner energy and support the UAE's climate and biodiversity goals. He also reaffirmed his commitment to supporting youth development as a cornerstone of the UAE's progress.

During the visit, His Highness was briefed on ADNOC's AI Lab, which is set to identify and shape high-value AI use cases across its operations. The lab will play a key role in driving ADNOC's digital transformation and ensuring the company remains at the forefront of the energy industry.

Abu Dhabi National Oil Company (ADNOC) is a state-owned energy company that operates in the United Arab Emirates. The company is committed to delivering sustainable and efficient energy solutions to meet the world's growing energy demands.

ADNOC is one of the world's leading energy companies, with a diverse portfolio of businesses that span the entire energy value chain. The company is committed to delivering sustainable and efficient energy solutions to meet the world's growing energy demands.

FAQS:

Q: What are the benefits of AI in retail investing?

A: The benefits of AI in retail investing include reduced costs, improved decision-making, and enhanced performance.

Q: What are the risks of AI in retail investing?

A: The risks of AI in retail investing include bias, herding, and data quality issues.

Q: What are the three broad use cases of AI in retail investing?

A: The three broad use cases of AI in retail investing are Decision Support, Automation, and Scams and Fraud.

Q: What was the finding of the experiment conducted by the OSC and BIT?

A: The experiment found that people who received the investment suggestion from a human using an AI tool (i.e., a “blended” advisor) followed the suggestion most closely.

Q: What is the conclusion of the research on AI in retail investing?

A: AI has the potential to transform the retail investing landscape, but it also poses significant risks. Regulators and industry participants must work together to ensure that AI systems are designed and implemented in a way that prioritizes investor protection and well-being.

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