Saudi Aramco-backed industrial software firm Cognite has opened its AI services center in Bengaluru, India, and is exploring potential contracts with leading conglomerates in the country.
The company has partnered with a large industrial cement company and a major automotive firm, although further details were not disclosed.
Cognite's Chief Strategy Officer Hakon Bjerke stated that the firm is making significant investments in India and plans to continue increasing its presence in the market.
Cognite develops software that enhances the operations and safety of industrial installations, including oil and gas platforms. The company is controlled by Aker ASA, the investment firm of Norwegian billionaire Kjell Inge Rokke.
CEO Girish Rishi emphasized the importance of entering the Indian market, viewing it as a substantial opportunity as companies seek alternatives to China.
Several firms, including Apple and major electronic component manufacturers, have also announced plans to expand or establish operations in India, aligning with Prime Minister Narendra Modi's efforts to attract global companies.
The recent surge in AI is reshaping how many businesses operate, with manufacturing companies leveraging the technology to streamline operations, improve product quality, and optimize supply chains.
Cognite, which recently moved its headquarters to the U.S., serves clients including AkerBP, Japanese refiner Cosmo Energy Holdings, and U.S.-based Koch Chemical.
As of February 2022, Saudi Aramco, through its subsidiary Aramco Overseas Company B.V., acquired a 7.4% stake in Cognite.