Flutura and JAG partner in oil and gas
August 1, 2017
Artificial Intelligence start-up Flutura is partnering with oil and gas specialist Jerry Allen Group (JAG Resources). The partnership will focus on using Flutura's flagship Cerebra industrial IoT platform for the benefit of the oil and gas industry.
The partnership between the two companies hopes to address moves within the oil and gas industry to look at next generation digital tools such as AI to transform upstream, midstream and downstream operations. Cerebra allows advanced diagnostic algorithms for equipment health episode detection and provides OEMs the ability to scale value added offerings across varied equipment classes.
"The next generation of competitive advantage in the energy marketplace will go to forward thinking players who invest a lot on digital IoT and artificial intelligence capabilities like Cerebra from Flutura," said Archie Dunham, JAG advisor, and chairman emeritus. "For upstream, midstream, downstream and the machinery manufacturers the risk of digital inaction is greater than the risk of digital failure. IoT and AI are the future and it is coming."
Flutura, with its artificial intelligence led IIoT platform Cerebra, is used by the likes of Henkel, Stewart & Stevenson and Sodexo. The company is backed by venture capital firms Vertex Ventures of Singapore, Lumis Partners of Connecticut and Silicon Valley's The Hive.
"In the energy industry, we have seen a lot of innovations that gave American companies superior competitive advantage over others," said Jerry Allen, chairman of JAG Resources and designated chairman of the Flutura-JAG partnership. “AI capabilities will define the next frontiers in innovation. We evaluated various solutions in the market and found Flutura's Cerebra unique in that it is far more advanced than other providers in this space. The next-generation functional features, rapid implementation approach and the scale-as-you-go pricing model are game changers in today's world of reduced barrel prices."
Krishnan Raman, CEO of Flutura, added: "JAG brings extensive knowledge of the energy industry. Cerebra was envisioned and developed as a revolutionary AI led IIoT platform. Leveraging the power of Cerebra in concert with the extensive and broad-based industrial experience of JAG, will create a strong and game changing solution to enable the inevitable digital transformations on the horizon for energy companies."