G42, Rafael joint venture; Indonesia edtech gets AWI funding
Good morning,
Here’s your weekly roundup of Middle East AI News!
Abu Dhabi AI and cloud computing company Group 42 is in the news again this week with the announcement of an AI and Big Data joint venture with Israel's state-owned Rafael Advanced Defense Systems. Meanwhile, Group 42 shareholder Mubadala shed some more light on its investment strategy in an interview with the FT - and tech is top of the list.
In other investment news Saudi Aramco invests in industrial manufacturing analytics software firm Seeq Corp. and ADQ's Alpha Wave Innovation fund invests in Indonesian edtech CoLearn.
Scroll down for these stories and more.
Stay safe and have a great weekend!
/Carrington
Investment
Abu Dhabi’s Mubadala looks beyond resource roots — www.ft.com
#UAE #investment - Abu Dhabi’s most active investment fund Mubadala is turning away from its roots as it cuts its holdings in energy and other commodity-related assets while ramping up investments in technology, healthcare and disruptive industries. (FT) (The National)
Abu Dhabi's G42 forms big data JV with Israeli defence company Rafael — www.reuters.com
#Israel #UAE #JV - Abu Dhabi-based technology company Group 42 (G42) has formed a joint venture with Israel's state-owned Rafael Advanced Defense Systems to commercialise AI and Big Data technologies. (Reuters)
Saudi Aramco part of $50 million funding for US software firm — www.arabnews.com
#Saudi #funding - Saudi Aramco Energy Ventures, Saudi Aramco’s investment arm, was among a group of investors who awarded $50 million (R187.5 million) to Seattle-based Seeq Corp. The industrial manufacturing analytics software firm raised new funds as part of a Series C funding round. Investors also include Altira Group, Chevron Technology Ventures, Cisco Investments, Second Avenue Partners. (Arab News)
Startup News
CoLearn raises $10 million Series A funding co-led by Alpha Wave, GSV Venture — www.livemint.com
#UAE #India #Indonesia #funding - Indonesia-based edtech startup CoLearn has raised $10 million as a part of its Series A funding, co-led by Abu Dhabi-based ADQ's Alpha Wave Incubation (AWI) fund and US-based edtech investor, GSV Ventures. Existing investors, including Sequoia Capital India’s Surge and AC Ventures, also participated in the round. (LiveMint)
R&D
Spiking neural network promises improved AI — www.theengineer.co.uk
#Saudi #neuralnetworks - Researchers at King Abdullah University of Science and Technology (KAUST) claim that a biomimicking spiking neural network (SNN) housed in a microchip could lead to faster and more efficient applications of artificial intelligence. (The Engineer)
Abu Dhabi's Secure Systems Research Centre partners with world-leading universities on groundbreaking projects — www.businesswire.com
#UAE #R&D - The Secure Systems Research Centre (SSRC) of Abu Dhabi's Technology Innovation Institute (TII) has partnered with Khalifa University, Georgia Institute of Technology, Tampere University, University of Applied Sciences and Arts of Southern Switzerland (SUPSI) and Purdue University. (BusinessWire)
Tax
Egypt’s E-Tax, Microsoft partner to bring AI solutions for Egyptian Tax Authority — dailynewsegypt.com
#Egypt #tax - Microsoft has signed an MoU with tax solutions developer E-Tax, a new company launched by Egypt's Ministry of Finance earlier this month, in cooperation with e-finance, a developer of digital payments infrastructure, to leverage AI and business intelligence (BI) in the country's tax system. (Daily News Egypt)
Education
Texas A&M concludes QAST STEM with underwater robotics competition — menafn.com
#Qatar #robotics - Students from Qatar Academy for Science and Technology (QAST) put their underwater robots to the test during the 2021 Qatar SeaPerch Challenge to conclude the Engineering Heroes: Ocean Scout academic enrichment programme delivered by Texas A & M University at Qatar. (Gulf Times)
Gulf Medical University’s Virtual Patient, secures gold at QS MAPLE 2021 Education Awards — uaenews247.com
#UAE #medical - Gulf Medical University’s Virtual Patient, was awarded Middle East GOLD Winner at the QS MAPLE 2021 Education Awards. The problem-based learning (PBL) application invokes critical thinking, clinical reasoning, and communicational skills amongst medical students. (UAENews247)
Quantum Computing
DP World explores quantum computing technology to optimise business — www.arabnews.com
#UAE #Quantum - Dubai’s port company DP World is exploring quantum computing technology to optimise its operations, the company said in a statement. The group is working with D-Wave Systems, a Canadian quantum computing company, to look at how the advanced technology can be applied to DP World’s logistics and trade business. (Arab News)
Case Study
Saudi Aramco accelerates employee expertise with conversational AI and enterprise search — www.ibm.com
#Saudi #AIagents - Indian multinational and IBM business partner Tech Mahindra used IBM's Watson Assistant and Watson Discovery to develop an internal virtual assistant and enterprise search solution for Saudi Aramco. (IBM)
Robot Hospitality
Saudi restaurant where waiters are robots — www.arabnews.com
#Saudi #foodservice - Diners at a new restaurant in the port city of Jazan, southwest Saudi Arabia, are served by robots manufactured by Chinese robotics firm CSJBOT. 'Restaurant Robot', designed by young Saudi engineer Reham Omar, is equipped with sensors to help the six robot waiters navigate the room. (Arab News)
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