Aramco To Provide Pricing Forecasts By AI

The Executive Vice President of Technology and Innovation at Saudi Aramco, Ahmed Al-Khowaiter, stated that Aramco will soon begin providing pricing forecasts and dynamic market trends for the products it sells globally through artificial intelligence.

During his speech at the Global AI Summit, he explained that, as the largest energy company in the world, Saudi Aramco is benefiting from generative AI capabilities in an unprecedented way by heavily investing in this field. He pointed out that the company is investing in AI to completely transform its operational methods.

He also highlighted the company’s ability to test and deploy new technologies at an industrial level, fundamentally changing how the energy and other sectors operate. 

He further explained that Aramco’s AI models are already analyzing drilling plans and geological data by recommending the best options for the company’s engineers.