Source: VentureBeat
Summary
Applied Computing has secured a $20M Series A funding round to develop a foundation AI model for the oil, gas, and petrochemical industry. The company aims to improve operational efficiency and reduce costs. The funding round was led by undisclosed investors.
Our Reading
The launch follows a familiar script.
Applied Computing joins the ranks of companies trying to disrupt the energy industry with AI. Their $20M Series A will be used to build a foundation AI model. Because the oil, gas, and petrochemical industry was just missing a good AI model to fix all its problems. Now, efficiency and cost reduction are just a neural network away.
Author: Evan Null
