Next-Gen Technology Wood, Cognite to Develop Industrial AI Solutions
Under a strategic agreement signed between Wood and Cognite, both the companies will create artificial intelligence solutions in order to provide a more connected and data-driven environment to industries which will prove profitable for their operations.
Houston/USA – Cognite, a global industrial AI software company and Wood, a global engineering and consulting company, have recently 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 plays to the strengths of both companies to 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, which is proven to optimise productivity and performance.
Both companies are committed to deploying performance solutions that address the needs of 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.
“Wood and Cognite will leverage physics-based models and AI to quickly provide advanced analytics that drive more profitable and sustainable industrial operations," said Mark House, Wood’s president of automation and control. “Through the partnership, we are addressing a familiar challenge in the industry when operational and information technology converge. By combining Wood’s world-leading process optimisation platforms like Virtuoso, and our end-to-end asset and delivery know-how, into packaged and scalable solutions with Cognite’s technology, we can unlock significant value for clients."
“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,” says John Markus Lervik, CEO, Cognite.
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.”