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DIFC deal with China fintech incubator; NEOM signs with STC for 5G
Good morning!
Here’s your weekly roundup of Middle East AI News!
The new deal signed between Dubai International Financial Centre and Chinese fintech innovation platform Jiaozi FinTech Dreamworks could bring another dimension to China's growing tech presence in the UAE.
Based in Chengdu, a fast-growing finance and innovation hub (and also in the news this week due to the forced closure of the U.S. consulate), Jiaozi Fintech Dreamworks currently supports more than 100 fintech startup teams from China and overseas. The fintech incubator plans to collaborate with DIFC in emerging technology sectors such as blockchain, AI, big data and cloud computing.
Scroll down for more news on agriculture, autonomous vehicles, defence, ecommerce, funding, fintech, healthcare robotics and smart cities!
Stay safe and have a great weekend!
/Carrington
Startup News
UAE’s Foundation Holdings leads Series D funding in Toppr — techcrunch.com
#India #UAE #funding - Mumbai-based ed-tech startup Toppr Technologies Pvt. Ltd has raised $46 million (Rs 350 crore) in its Series D round of funding led by UAE-based multi-family investment office Foundation Holdings. Toppr will use the capital to develop an AI-based school operating system and launch new platforms. (VC Circle)
Finance
China strengthens fintech cooperation with Dubai through new agreement with DIFC — gulfbusiness.com
#China #UAE #fintech - Dubai International Financial Centre (DIFC) and Chinese #FinTech innovation platform Jiaozi FinTech Dreamworks have signed an agreement to collaborate in emerging technology sectors such as blockchain, artificial intelligence, big data and cloud computing. (Gulf Business)
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Robotics
How robotics can transform the Middle East’s supply chain — www.manufacturingglobal.com
#MiddleEast #supplychain - The Middle East is in a period of significant transformation. Automated robots are set to play an influential role in supporting reshoring and local manufacturing. (Manufacturing Global)
Ecommerce
Digital transformation, data and AI will drive retail sector post-pandemic — www.thenational.ae
#UAE #retail - Digital transformation will reshape the GCC’s $275.4 billion (AED 1.01tn) retail sector post-pandemic, in turn ‘right-sizing’ a glut and leading to the adoption of artificial intelligence across the industry, according to the UAE’s leading retailers. (The National)
Autonomous Vehicles
Dubai Future Foundation calls for investments in autonomous transport post COVID-19 — www.zawya.com
#UAE #AVs - Demand for public transport has plummeted by as much as 90 percent in some cities during the COVID-19 pandemic, but this presents an opportunity to re-imagine transportation systems, according to the Dubai Future Foundation. (Zawya.com)
Smart Cities
NEOM ties up with STC for developing world’s leading smart cities — saudigazette.com.sa
#Saudi #smartcities - NEOM company announced its first step toward developing the world’s leading smart cities that rely on leading technology for digital services after signing a contract with the STC group to establish a 5G network infrastructure that will accelerate NEOM’s digital ambitions. (Saudi Gazette)
Egyptian state utility to create Middle East’s first-ever smart grid — www.smart-energy.com
#Egypt #smartcities - State-owned Egyptian Electricity Holding Company (EEHC) will transform its electricity grid into a smart grid with the help of Schneider Electric. EEHC and the French industrial group signed a $287,5 million contract on 12 July to implement the project. (Smart Energy)
Employment
‘Automation does not mean less jobs’, experts — www.jordantimes.com
#Jordan #employment - The Jordan Labour Watch (JLW) has conducted interviews on the impact of automation on the public sector. The interviews come in light of the MoU signed on between the Ministry of Digital Economy and Entrepreneurship and the Technology Strategies Middle East Company (TSME), representative of Automation Anywhere Inc. (Jordan Times)
Education
Pai aims to unearth creativity and coding skills in children through Botzees robot — www.techradar.com
#UAE #education - Shanghai-based Pai Technology has signed a distribution deal for the UAE with BrandConnect for its Botzees coding robotics kits for children's education. (TechRadar)
Healthcare
Rology raises investment from Dubai Angel Investors — www.wamda.com
#Egypt #UAE #funding - Egypt-based healthtech startup Rology, has raised investment from Dubai Angel Investors. The amount raised was not disclosed. It plans to use the investment to enhance its AI algorithms and further expand into more African markets. (Rology)
AI bots to boost care at Saudi German Hospital — www.khaleejtimes.com
#UAE #healthcare - Robots will help improve patient care and automate end-to-end business processes at the Saudi German Hospital (SGH) during the Covid-19 crisis. The 'digital workers' provided by Automation Anywhere are expected to transform SGH front and back offices to "modernise key touchpoints - from patient on-boarding to insurance billings, office management operations and other financial processes". (Khaleej Times)
Agriculture
Ministry keen to enhance agricultural efficiency through AI, drones’ technologies — saudigazette.com.sa
#Saudi #agriculture - Saudi Arabia's Ministry of Environment, Water and Agriculture is keen on raising the productive and operational efficiency of the agricultural sector by using drones backed by AI technologies. (Saudi Gazette)
Defence
U.S. to ease export controls on military drone sales to allies — www.bloombergquint.com
#Saudi #US #UAVs - The U.S. said it will ease restrictions on the sale of armed drones, a shift that could benefit key allies such as Saudi Arabia while allowing Washington to better compete with countries like China. (Bloomberg)