U.S. markets close in 3 hours 54 minutes
  • S&P 500

    4,061.53
    -18.58 (-0.46%)
     
  • Dow 30

    34,235.17
    -354.60 (-1.03%)
     
  • Nasdaq

    11,430.56
    -37.43 (-0.33%)
     
  • Russell 2000

    1,885.93
    -0.65 (-0.03%)
     
  • Crude Oil

    81.78
    +1.23 (+1.53%)
     
  • Gold

    1,816.80
    +56.90 (+3.23%)
     
  • Silver

    22.81
    +1.03 (+4.72%)
     
  • EUR/USD

    1.0483
    +0.0075 (+0.72%)
     
  • 10-Yr Bond

    3.5760
    -0.1270 (-3.43%)
     
  • GBP/USD

    1.2233
    +0.0171 (+1.42%)
     
  • USD/JPY

    135.7420
    -2.3380 (-1.69%)
     
  • BTC-USD

    16,980.07
    +106.09 (+0.63%)
     
  • CMC Crypto 200

    402.22
    -3.93 (-0.97%)
     
  • FTSE 100

    7,558.49
    -14.56 (-0.19%)
     
  • Nikkei 225

    28,226.08
    +257.09 (+0.92%)
     

Baker Hughes Collaborates With C3 AI, Accenture and Microsoft on Industrial Asset Management Solutions

HOUSTON & REDWOOD CITY, Calif., March 22, 2022--(BUSINESS WIRE)--Energy technology company Baker Hughes (NASDAQ: BKR) is collaborating with C3 AI (NYSE: AI), Accenture (NYSE: ACN) and Microsoft on industrial asset management (IAM) solutions for clients in the energy and industrial sectors.

The collaboration will focus on creating and deploying Baker Hughes IAM solutions that use digital technologies to help improve the safety, efficiency, and emissions profile of industrial machines, field equipment, and other physical assets. Applying their individual strengths, the four companies will collaborate on Baker Hughes IAM capabilities that help optimize plant equipment, operational processes, and business operations through improved uptime, increased operational flexibility, capital planning, and energy efficiency management.

The solutions will be designed for industries including oil and gas; renewable energy and thermal power generation; metals and mining; chemicals; and pulp and paper.

Baker Hughes, C3 AI, Accenture and Microsoft will also explore collaborating on solutions that help achieve net-zero carbon emissions and decarbonize energy and industrial sectors, including emissions management.

"This collaboration accelerates our growth strategy to provide differentiated IAM solutions that enhance our customer’s industrial operations by optimizing the performance of industrial equipment and processes," said Lorenzo Simonelli, Baker Hughes chairman and CEO. "IAM connects industrial data to domain-specific insights for improved efficiencies and lowered energy use and emissions. We see this as an important step to support the industry’s net-zero targets."

Baker Hughes, C3 AI, Accenture and Microsoft have a history of strategic collaboration, and each company brings specific expertise to accelerate IAM solution development for energy and industrial applications. Baker Hughes will provide domain-specific digital expertise and technology for industrial customers, including leading condition-monitoring software for mission critical machinery, industrial asset strategy advisors, proven machine and equipment edge sensor and related controls capabilities, enterprise AI capabilities from the BakerHughesC3.ai alliance for oil and gas and industrial applications, and proprietary original equipment manufacturer (OEM) analytics. Baker Hughes’ IAM portfolio also includes the recent acquisition of ARMS Reliability and a strategic alliance with Augury.

C3 AI will provide a flexible artificial intelligence (AI) application development platform that complements Baker Hughes technologies as well as extensive experience developing and deploying applications at scale for a wide range of equipment used across industries.

Accenture will help drive product innovation, design and development and provide strategic support and systems integration at scale, drawing on its experience to transform asset management across industries to help improve profitability and reduce risk.

Microsoft will provide secure cloud infrastructure for big data, advanced Microsoft Azure services including AI, Internet of Things (IoT), high performance computing (HPC) as well as modern work and business applications.

"This is an important effort, and we’re excited to participate in providing the core Enterprise AI technology," said C3 AI Chairman and CEO Thomas M. Siebel. "Enterprise AI software is critical for increasing performance and ROI from industrial assets management solutions."

"Through this unique collaboration, we are helping companies embed intelligence across their operations to increase performance and safety, advance decarbonization goals, and drive greater innovation and competitiveness," said Julie Sweet, chair and CEO of Accenture.

"Together, we have a tremendous opportunity to deliver cloud-based technologies across customers’ industrial operations that enable them to reduce costs and increase efficiencies while advancing their net zero goals," said Judson Althoff, Microsoft’s executive vice president and Chief Commercial Officer.

About Baker Hughes

Baker Hughes (NYSE: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and with operations in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner, and more efficient for people and the planet. Visit us at bakerhughes.com.

About C3.ai, Inc.

C3 AI is the Enterprise AI application software company. C3 AI delivers a family of fully integrated products including the C3 AI Suite, an end-to-end platform for developing, deploying, and operating enterprise AI applications and C3 AI Applications, a portfolio of industry-specific SaaS enterprise AI applications that enable the digital transformation of organizations globally.

About Accenture

Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Interactive, Technology and Operations services — all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 699,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. Visit us at accenture.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220322005415/en/

Contacts

Media Relations

For Baker Hughes:
Ashley Nelson
+1 925 316 9196
Ashley.Nelson1@bakerhughes.com

For C3 AI:
Edelman
Lisa Kennedy
415-914-8336
pr@c3.ai

For Accenture:
Guy Cantwell
Accenture
+1 281 900 9089
guy.cantwell@accenture.com

Investor Relations

For Baker Hughes:
Jud Bailey
+1-281-809-9088
investor.relations@bakerhughes.com

For C3 AI
ir@c3.ai