Etisalat accelerates adoption of AI, blockchain in Mideast
SOURCE: ZAWYA - Etisalat accelerates adoption of AI, blockchain in Mideast
Four scaleups will develop artificial intelligence and blockchain solutions
Future Now, the innovation program of Etisalat, has signed agreements with four scaleups to develop artificial intelligence (AI) and blockchain solutions following the successful Dubai Future Accelerators program.
The signing ceremony also marked the opening of the Future Now scaleup collaborative space for Etisalat Digital’s partners, namely Yitu Technology (China), Com IoT Technologies (UAE), 300cubits (Hong Kong), and Tradefin (US). They were chosen based on their capability to build and launch their core technology and be able to demonstrate traction and substantial use cases.
These selected companies will continue their journey through the “Future Now” scaleup program, where they will receive access to Etisalat Digital resources and experts, office space, and support needed to deliver joint projects to Etisalat’s client base.
As part of the fifth cohort of Dubai Future Accelerators, Etisalat Digital launched in July this year three challenges to companies across the world. Out of all the companies that applied, seven companies were selected to address these challenges. The companies had the opportunity to network with a number of key stakeholders and have access to resources and expertise.
Etisalat Digital selected two companies, Yitu Technology (China), and Com IoT Technologies (UAE), for the first challenge that sought to leverage artificial intelligence for video surveillance systems and create solutions that would reduce crime rates and road congestion.
The second challenge addresses the use of blockchain to reduce the transactional costs and complexity in business processes for banks, governments and private organizations, with the goal of reducing the costs and complexity by 40 percent over five years. 300cubits (Hong Kong) was selected for this challenge.
Tradefin was selected for the last challenge that was focused on the adoption of blockchain to enable exchange across various loyalty currencies and to transform a loyalty currency into a crypto currency that can be used to perform online and physical transactions.