Saudi Aramco-backed Cognite taps India in AI expansion bet

According to Chandini Monnappa

(Reuters) – Saudi Auxiliary Industrial software in South Bengaluri opened its AI service center on Wednesday and said it studies possible contracts with the best conglomerates in the country.

The company said it was registered with the largest industrial cement company and the main automobile company, but refused to provide additional details.

“Congeite bets on India and currently invests millions of dollars, and our contribution to India will continue to grow,” said the main strategy.

Cognite makes software that allows companies to improve operations and safety of industrial installations such as oil and gas platforms. It is controlled by ASA of the Investment Company of Norway billionaire Kjell Inge Roekke.

“The decision to come to India was really a great opportunity here, because the world was looking for an alternative for China,” Reuters said director Girish Rishi.

Apple, Tesla and Electronic Component Maker Jabil has announced expanding or operating in India, following the Prime Minister Naryidra Modi to set global companies.

The latest AI boom changes the form of many companies, the production firms touch the technology of promoting actions, increase the quality of products and improving the optimization of supply chains.

Congaite, who recently transferred its headquarters to the United States, currently calculates the chemicals of AKERBP, Japanese Refiner Cosmo Energy Holdings and the US Koch.

As of February 2022, Saudi Aramco has acquired a 7.4% stake in February 2022.

(Reports Chandini Monnappa in Bengalur; Editing Shreya Biswas)