Nasser: Technology realizable value to range between $3–5B in 2025

Amin Nasser, President and CEO of Saudi Aramco predicts realized value from technology to hit $5 billion in 2025, compared to $6 billion in 2023 and 2024

Amin Nasser, President and CEO of Saudi Aramco, said the realizable value generated from technology, which will be announced next month, is expected to range between $3 billion and $5 billion in 2025, with more than 50% linked to artificial intelligence (AI).

Speaking during a panel session at the World Economic Forum, Nasser said the realized value generated from technology in previous years ranged between $200 million and $300 million annually before reaching $6 billion in 2023 and 2024, half of which was related to AI.

Nasser explained that the number of AI use cases reached 500 this year, compared to around 400 last year, with 100 use cases moving from the pilot phase to full deployment.

The application of AI in the company’s operations has contributed to reducing corrosion inhibitors usage and pipeline failures, and improving overall reliability, he added.

Moreover, AI is used to enhance equipment reliability and predict failures, including determining when assets should be taken out of service before major breakdowns occur, delivering significant benefits by reducing downtime and increasing operational efficiency.