Abu Dhabi AI firm Presight buys majority stake in technology joint venture AIQ

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A view of the city skyline at sunset from Dhow Harbour in Abu Dhabi, United Arab Emirates, on Feb. 5, 2015. ADNOC will in turn get a 4% stake in Presight, as it aims to integrate AI into more of its operations and services. AIQ, for its part, will continue as a stand-alone company within Presights portfolio, the release said. AIQ uses AI and machine learning to improve processes in the oil and gas industry. Speaking to CNBCs Dan Murphy, AIQ CEO Chris Cooper discussed how his firm has benefited from ADNOC and how it plans to broaden its applications in the energy industry and globally.

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