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DIFC deal with China fintech incubator; NEOM signs with STC for 5G
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.
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#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)
#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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#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)
#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)
#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)
#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)
#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)
#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)
#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)
#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)
#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)
#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)