Applied Computing Secures $20M to Develop AI for Oil & Gas
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8d ago

Applied Computing Secures $20M to Develop AI for Oil & Gas

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Applied Computing has raised a $20 million Series A funding round to create an artificial intelligence (AI) model specifically designed for the oil, gas, and petrochemical industries. The company intends to build a foundation AI model tailored to the complex needs of plant operators.

The $20M Series A investment will fuel the development of this specialized AI. According to TechCrunch, the goal is to provide an AI solution that can be applied across the entire operational spectrum of oil, gas and petrochemical plants.

While details regarding the specific functionalities of the model are limited in the report, the initiative suggests a move towards increased automation and data-driven decision-making within these traditionally complex industrial environments. The company aims to offer operators an AI tool capable of optimizing processes and improving efficiency.

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