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Japanese AI Company Preferred Networks and Mitsui Group Establish Joint Venture for Energy Excavation

Japanese AI company Preferred Networks announced a new joint venture named “Mit-PFN Energy” with Mitsui Group to develop and commercialize AI solutions.

On August 31, Japanese AI company Preferred Networks (PFN) announced a new joint venture named “Mit-PFN Energy” with Mitsui Group to develop and commercialize AI solutions. Headquartered in Tokyo, the venture aims to apply deep learning technology to seismic analysis, which is a common method of using artificially induced shock waves to find underground oil and gas reservoirs. Moreover, the venture also plans to use its solutions for underground carbon capture and storage (CCS) and other renewable energy excavation, including geothermal. (Source)

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