ARLINGTON, VA, USA, September 26, 2023/EINPresswire.com/ — Edge Total Intelligence Inc. (“edgeTI”, “Company”, “We”, or “Our”) (TSXV: CTRL, OTCQB: UNFYF, FSE: Q5i), a leader in real-time digital operations software, announces a new partnership with Algo8 Inc. (“Algo8”), a leader in artificial intelligence in the energy sector, to develop and deploy edgeTI’s advanced intelligent plant & asset management capabilities in edgeCore™ to automate digital operations across all aspects of upstream and downstream oil & gas operations.
In partnership with Algo8, edgeCore will be utilized to optimize worker performance and plant & facility production, which edgeTI and Algo8 expect will significantly boost return on investment, by securely integrating existing siloed tools, normalizing data across those tools, and leveraging Algo8 PlantBrainTM’s advanced AI algorithms to predict performance, optimize production and improve the efficiency of equipment and operations.
“To grow and remain competitive, Oil and Gas companies must improve access and coordination to all data sources,” said Jim Barrett, CEO of edgeTI. “edgeCore will allow real-time access to all data across siloed applications, without requiring new data collection tools and costly data warehouses or lakes. We are very excited to add the AI capabilities of Algo8 to deliver the AI applications that further optimize production, improve reliability, and enhance sustainability – delivered at scale in any environment and in weeks not months without disrupting current operations.”
As the first, commercially available data mesh solution to unite controls, automation, and AI, edgeCore in tandem with Algo8 will seek to:
“Algo8 is excited to partner with edgeTI. Together, we hope to not only solve our clients’ siloed data problem, but also to accelerate AI-enabled insights through the access of high-quality input data in real-time,” said Nikhil Chauhan, Chief Growth Officer & President Americas of Algo8.
This has been the promise of “digital plants & assets for future” which, until now, has been unattainable without eight-figure multi-year contracts to “rip and replace” existing systems in favor of a single vendor solution. edgeTI believes that through its new partnership, edgeCore will allow organizations to maintain and enhance their existing systems to achieve their “digital plants & assets for future” purpose built for their unique needs. The results – faster deployment, dramatically lower cost, higher ROI, minimal disruption to operations, minimal operator training and increased ROI on existing digital investments.
At the partnership’s inception, edgeTI and Algo8 will pursue sales opportunities together. Progress with customers will inform the ideal business arrangement to benefit partners and customers.
Algo8 Inc. is an artificial intelligence company focusing on enhancing productivity, reliability and sustainability of energy and manufacturing clients globally. Algo8’s contextualized Enterprise AI product suite, PlantBrainTM platform uses OT, IT and ET data to help businesses achieve operational breakthroughs that significantly affect their top and bottom line. Expertise in machine learning, deep learning, computer vision, NLP and generative AI, accelerates the adoption of AI and Generative AI in asset heavy and process driven companies. Currently, Algo8 has served over 30 clients and 6 Industrial Fortune 500 companies across various sectors with ROI’s of up to 8-10 times.
Website Algo8: https://algo8.ai/
edgeTI helps customers sustain situational awareness and accelerate action with its real-time digital operations software, edgeCore™ that unites multiple software applicates and data sources into one immersive experience. Global enterprises, service providers, and governments are more profitable when insight and action are united to deliver fluid journeys via the platform’s low-code development capability and composable operations. With edgeCore, customers can improve their margins and agility by rapidly transforming siloed systems and data across continuously evolving situations in business, technology, and cross-domain operations — helping them achieve the impossible.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements in this news release are forward-looking statements or information for the purposes of applicable Canadian and US securities law. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future.
Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Forward-looking statements included in this news release include, but are not limited to, the results, terms and benefits that may be derived by edgeTI, Algo8 and customers of edgeTI from edgeTI’s partnership with Algo8. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect.
Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, significant competition in the software and artificial intelligence space, regulatory changes and inability of either of edgeTI or Algo8 to comply with regulatory requirements including requirements applicable to edgeTI as a publicly listed company, data risks including as a result of data breaches or failures of internal controls, competition, market acceptance of the products of edgeTI, market demand for the products and services provided by edgeTI, reputational risks, third party risks including those related to any harm that may be suffered by edgeTI as a result of its partnership with Algo8 and any actions undertaken by Algo8 as a result therefrom, and general business, economic and capital market conditions.
Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products, the ability of Algo8 and edgeTI to realize the goals and objectives of its partnership, anticipated costs, and the ability to achieve goals.
Factors that could cause the actual results to differ materially from those in forward-looking statements include the continued availability of capital and financing, the impact of viruses and diseases on the Company’s ability to operate, competition and general economic, market or business conditions.
Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.