AI firm Synapsia secures $2.5 billion Abu Dhabi smart city deal
Bold Technologies and Italian AI firm to form joint venture for urban management
#UAE #smartcities - Milan-headquartered AI company Synapsia has secured a $2.5 billion contract with Abu Dhabi-based Bold Technologies to provide AI-powered city management services for Abu Dhabi, according to a Reuters report today. The deal, signed on March 3rd, will see the Italian company develop advanced technology to handle urban challenges including transport, parking and emergency response systems as part of a cognitive city project.
SO WHAT? - The cognitive city deal aligns with Abu Dhabi's ambitious plans to use AI and other emerging technologies to elevate public services. In January, the government announced its $3.4 billion Abu Dhabi Government Digital Strategy, with a plans to create the first fully AI-native government by 2027. The deal between Synapsia and Bold Technologies provides another example of how Abu Dhabi aims to transform theoretical AI capabilities into practical, large-scale smart city applications that could fundamentally reshape how the capital city functions.
Here are some key points about the deal:
Italian AI company Synapsia has signed a $2.5 billion contract with Abu Dhabi-based security solutions company Bold Technologies to provide AI-powered city management services for Abu Dhabi, according to a Reuters report.
The agreement was signed on March 3rd, the week after the state visit of UAE President Highness Sheikh Mohamed bin Zayed Al Nahyan to Italy.
The $2.5 billion contract will be paid in five instalments over 18 months, with payments tied to specific project milestones as Synapsia implements its cognitive AI solutions across Abu Dhabi's urban infrastructure.
According to a Reuters interview with Synapsia’s CEO, the two companies plan to form a new joint venture company called My Aion Inc., which will eventually be listed on the Abu Dhabi Securities Exchange (ADX) through an initial public offering (IPO) to be scheduled between 2027 and 2029.
Synapsia's technology aims to transform Abu Dhabi's urban management from disconnected data silos into an autonomous, self-learning network that can optimize infrastructure, transportation, and energy use in real-time.
The Italian company is the developer of Maia, which it describes as the first Cognitive Operating System. The company says Maia goes beyond traditional AI by understanding scenarios, creating strategies, and making independent decisions rather than simply following commands.
Bold Technologies, the Abu Dhabi-based security technology company, is part of Bold Holding, which is chaired by Major General Sheikh Mohammed bin Tahnoon Al Nahyan, also the Director General of Abu Dhabi Police. The company specialises in delivering high-level security solutions leveraging best-in-class technology and international standards.
ZOOM OUT - One week prior to the signing of the Bold Technologies-Synapsia deal, the United Arab Emirates committed to invest $40 billion in Italy - one of the largest single-country commitments to Italy in recent years. During high-level talks in Rome between UAE President Sheikh Mohamed bin Zayed Al Nahyan and Italian Prime Minister Giorgia Meloni, more than 40 agreements were signed across multiple sectors, with artificial intelligence and advanced technologies identified as key priorities alongside space exploration and renewable energy.
[Written and edited with the assistance of AI]
Read more about Abu Dhabi smart city projects:
G42 starts driverless taxi service trials in Abu Dhabi (Middle East AI News)