Abu Dhabi Developmental Holding Company (ADDH), which last week announced plans to launch a llow-cost airline in the UAE, have revealed plans to set up a unit dedicated to developing artificial intelligence.
ADDH and Group 42 have announced the signing of an agreement to establish a joint venture to provide AI-enabled products and services.
Under the terms of the agreement, Adalytyx will be established as a separate legal and operating entity.
Adalytyx will leverage G42’s digital products and domain expertise to develop a number of AI-driven business optimisations for ADDH group of companies, a statement said.
It added that solutions include applied AI research and scalable AI solutions for target industries.
With a mandate to pursue sustainable financial returns, ADDH said it is set to leverage technology in its ambition to create value, including artificial intelligence, data analytics, and machine learning.
Mohamed Al Suwaidi, CEO of ADDH, said: “Our strategic partnership with G42 not only allows us to implement innovations and drive efficiencies across our portfolio of companies, but it also acts as a catalyst for digital modernization across multiple sectors of Abu Dhabi’s non-oil economy.”
Peng Xiao, CEO of Group 42, added: “As a leading technology provider in Abu Dhabi already working with clients across several sectors including healthcare, utilities and aviation, we are proud to partner with ADDH, one of the Emirate’s largest holding companies.
“The partnership will allow ADDH portfolio of companies to implement digital and data transformation initiatives, as they prepare for the opportunities and challenges the 4th industrial age will inevitably present.”
Last week ADDH announced that it plans to launch a local airline in Abu Dhabi in partnership with Wizz Air Holdings.
The move will pit the European low-cost carrier against a new carrier planned by local operators Etihad Airways and Air Arabia.
The new airline will be Wizz Air’s first airline established outside of Europe.
for more information, you may visit : https://www.arabianbusiness.com/technology/436039-firm-behind-new-uae-airline-launches-artificial-intelligence-jv (article and photo credits)