LOS ANGELES, July 13, 2021 (GLOBE NEWSWIRE) — Beyond Limits, an industrial and enterprise-grade AI technology company built for the most demanding sectors, today announced a new partnership with Mitsui & Co., Ltd. (Mitsui) to expand access to Cognitive AI solutions in the Asia-Pacific region.
The collaboration will establish digital transformation and AI-readiness consulting services for Mitsui’s clients in Japan and other countries in the Asia-Pacific region, in addition to expanding globally. The services will first be deployed with one of the Liquefied Natural Gas (LNG) Plants where Mitsui is involved as an investor, utilizing Beyond Limits’ Cognitive AI solution to accumulate operational knowledge, analyze datasets, and boost production efficiency.
“Beyond Limits is committed to developing AI solutions that go beyond solving today’s challenges to address the needs of new industries and regions that are recognizing the impact of artificial intelligence,” said Leonard Lee, President, Beyond Limits Asia-Pacific. “We’re proud to partner with Mitsui, an established leader in business development and trade in so many global industries. This collaboration is a testament to our joint commitment to building knowledge and value with AI for many sectors which are just now exploring its potential.”
The AI market in the Asia-Pacific region, including software and other services, is expected to reach a value of $136 billion by 2025 according to a report by research firm Tractica. The high market potential, coupled with growing technology adoption across traditional industries including infrastructure, energy and manufacturing, is expected to create a need for expert resources as more companies look to capitalize on digital services.
“Mitsui announced the DX Comprehensive Strategy in November 2020,” said Yuji Mano, Managing Officer, General Manager of Integrated Digital Strategy Division at Mitsui. “We are working to improve productivity, strengthen competitiveness, and create new business models by integrating the various sites of Mitsui’s global portfolio with the power of digital. Through this partnership, we will accelerate our short to medium-term goals through efficiency improvement and execution of high added value of the existing business.”
“Mitsui is delighted to partner with Beyond Limits,” said Hiroki Tanabe, Deputy General Manager, Forth Dept, Division III, Infrastructure Projects Business Unit at Mitsui. “We have been working on this deal for several years, and believe that the integration of Mitsui’s Operation Technology (OT) knowledge & Digital Transformation (DX) expertise under global portfolio and Beyond Limits’ AI technology will be able to deliver impact for companies across the energy industry and beyond.”
For more information on Beyond Limits’ Cognitive AI energy solutions, click here.
About Beyond Limits
Beyond Limits is an industrial and enterprise-grade artificial intelligence company built for the most demanding sectors including energy, utilities, and healthcare.
Beyond traditional artificial intelligence, Beyond Limits’ unique Cognitive AI technology combines numeric techniques like machine learning with embedded human knowledge to provide clear, reliable recommendations. Customers implement Beyond Limits AI to boost operational insights, improve operating conditions, enhance performance at every level, and ultimately increase profits as a result.
Founded in 2014, Beyond Limits leverages a significant investment portfolio of advanced technology developed at Caltech’s Jet Propulsion Laboratory for NASA space missions. The company was recently honored by Frost & Sullivan as a Company of the Year for their 2021 Best Practices Award and by CB Insights on their 2020 List of Top 100 Most Innovative Artificial Intelligence Startups.
For more information, please visit www.beyond.ai.
About Mitsui & Co., Ltd.
Mitsui & Co., Ltd (8031: JP) is a global trading and investment company with a diversified business portfolio that spans 64 countries in Asia, Europe, North, Central & South America, The Middle East, Africa and Oceania.
Mitsui has over 5,600 employees and deploys talent around the globe to identify, develop, and grow businesses in collaboration with a global network of trusted partners. Mitsui has built a strong and diverse core business portfolio covering the Mineral and Metal Resources, Energy, Machinery and Infrastructure, and Chemicals industries.
For more information on Mitsui & Co’s businesses visit, www.mitsui.com.