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- Who: Amin H. Nasser, President & CEO, Aramco
- What: Keynote speech at LEAP 2024
- When: March 4, 2024
- Where: Riyadh, Saudi Arabia
DHAHRAN, Saudi Arabia – Aramco President & CEO Amin H. Nasser today highlighted the company’s new large language AI model, aramcoMETABRAIN, and the formation of an innovative R&D network, the Saudi Accelerated Innovation Lab (SAIL), which aims to advance the digital economy. The projects were discussed during his keynote speech on “Digital Leadership in the Energy Sector” at LEAP 2024, a global technology event underway in Riyadh.
aramcoMETABRAIN is a groundbreaking, industrial-grade generative AI model based on 90 years of accumulated company data. It represents a strategic investment in generative AI by the company, which plans to use it to power disruptive, cognitive applications across its business.
SAIL is expected to focus on challenge-based R&D, product development and digital ventures building through creating a national and global ecosystem of partners to strengthen its capabilities. It has been cofounded by Aramco with the Saudi Research, Development and Innovation Authority, and partners King Abdulaziz City for Science and Technology, the National Industrial Development and Logistics Program and Saudi Arabia’s Ministry of Communications and Information Technology.
On the aramcoMETABRAIN large language AI model, Mr. Nasser said: “We believe METABRAIN has the potential to raise both productivity and growth as well as transform the way we work… Clearly, the power of generative AI is something most companies are keen to tap into. What is also clear is that with any major innovation, there are obvious risks. For Aramco, developing our own generative AI model enables us to realize the benefits while reducing these risks.”
On the formation of SAIL, Mr. Nasser said: “SAIL is not just a project. It is a journey with our national and private partners, and it is a commitment to the future. Together we intend to establish a preeminent digital ecosystem that attracts global leaders, top talent and breakthrough innovation to incubate what is needed now and invest in what’s next. We aim to enable Saudi businesses to outperform in their industries, growing the digital economy and keeping the Kingdom at the forefront of market-driven digital innovation. Through SAIL, our goal is to create new digital products, new digital ventures, breakthrough IP and global consortiums to tackle major challenges.”
On Aramco’s technology strategy, Mr. Nasser said: “Aramco is constantly moving forward in our tech journey. We are doing so in three ways: through integration, through innovation and through investment. In terms of integration within our operations, we continue to see benefits from our ongoing digital transformation… It is a transformation that is touching every part of our company, from managing projects to improving logistics to calculating reserves… Our dedicated digital and AI-driven centers are also playing an important role in helping increase efficiency and decrease costs.”
On the importance of technology innovation, Mr Nasser said: “It all comes down to creating value. For society in general, the latest technology can help reduce emissions. For our shareholders large and small, it can help us maximize returns. For current and future generations of Saudis, it can help us optimize the Kingdom’s resources. For Aramco’s customers around the world, the latest technology can help us deliver the highest possible reliability and energy security. And for our employees, it can help all of us do our jobs efficiently and safely. Indeed, creating value for people is the ultimate reason for any technology journey, ours included.”
LEAP is an annual event that brings together over 172,000 members of the world’s tech ecosystem to learn, network, make discoveries and innovate. The third edition of the event runs from March 4 to 7 and focuses on the theme “Into New Worlds.” Over 600 startups, 1,300 investors and 800 cross-industry specialists are attending, with the event featuring talks by globally renowned tech experts from major companies.
For the full text of Mr. Nasser’s speech, visit: LINK
Aramco Contact Information
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About Aramco
Aramco is a global integrated energy and chemicals company. We are driven by our core belief that energy is opportunity. From producing approximately one in every eight barrels of the world’s oil supply to developing new energy technologies, our global team is dedicated to creating impact in all that we do. We focus on making our resources more dependable, more sustainable and more useful. This helps promote stability and long-term growth around the world. www.aramco.com
