Marubeni and GRID’s Capital/Business Alliance

Source: www.gulfoilandgas.com 4/10/2017, Location: Asia

Marubeni Corporation (Marubeni) and GRID, Inc. (GRID) agreed to conduct a capital and business alliance to develop and implement solutions using Artificial Intelligence (Al) technology for the Marubeni Group, which is composed of Marubeni and its consolidated subsidiaries and affiliates, and Marubeni Group’s customers. As part of the alliance, GRID issued new shares to Marubeni via private placement.

GRID is one of the leading AI tech solution companies in Japan that developed the machine learning/deep learning framework “ReNom”, in-house. ReNom helps to solve a wide range of business challenges with speed. The framework contains various algorithms pre-programmed, therefore it empowers developers to build AI applications rapidly, enabling it to minimize project duration. Utilizing ReNom, GRID has engaged in various projects and provided solutions to a wide range of businesses in manufacturing, infrastructure, and energy.

Marubeni is accelerating its Internet of Things (“IoT”) implementation and the utilization of Big Data as represented by the formation of the IoT. Big Data Strategy Department as of April 1, 2017. As part of this acceleration, Marubeni will use ReNom to solve the business challenges facing the Marubeni Group as it expands its business in various fields. In the immediate future, Marubeni is planning to promote these efforts in the field of logistics and healthcare.

Starting with the Marubeni Group, Marubeni and GRID will continue to develop solutions using AI for various companies in the future.


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