Saudi Aramco aims to provide pricing forecasts through AI: Exec

Ahmad Al-Khowaiter, EVP - Technology & Innovation, Aramco

Saudi Aramco will soon begin providing pricing forecasts and dynamic market trends for its globally sold products using artificial intelligence (AI), said Executive Vice President of Technology & Innovation Ahmad Al-Khowaiter.

During his speech at the Global AI Summit, he explained that Aramco, as the largest energy company in the world, is benefiting from generative AI capabilities in an unprecedented way and is heavily investing in this field.

He pointed out that the company is investing in AI to drive transformation across its operations.

Al-Khowaiter also highlighted Aramco’s ability to test and deploy new technologies on an industrial level, fundamentally changing the energy sectors and beyond.

He explained that Aramco’s AI models already analyze drilling plans and geological data by recommending the best options to its engineers.