IBM (NYSE: IBM) and Saudi Aramco (2222.SE) announced their intended collaboration on artificial intelligence, automation, material science and other industrial applications. The announcement was made at IBM's Think Boston conference.

The collaboration will combine IBM's enterprise technology platforms and consulting capabilities with Aramco's industrial operations and energy expertise built over 90 years. The companies plan to explore AI applications in hybrid cloud and advanced technologies across industrial and energy systems.

"This collaboration with IBM enables us to assess how industrial AI and other mutually-agreed domains can further enhance operational excellence and resilience," said Sami Al Ajmi, Senior Vice President of Digital & Information Technology at Aramco.

Saad Toma, General Manager of IBM Middle East and Africa, stated the collaboration aims to address complex industrial challenges through emerging technologies.

The two companies have maintained a business relationship since 1947, spanning various technology implementations from foundational systems to digital platforms.

The planned collaboration remains subject to the parties reaching definitive agreements, according to the press release statement.