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Future Now, Etisalat's innovation program, has signed agreements with four scaleups to develop Artificial Intelligence and Blockchain solutions following the success of the Dubai Future Accelerators program.
The signing ceremony also marked the opening of the Future Now collaborative space for the partners of Etisalat Digital, namely Yitu Technology (China), Com IoT Technologies (UAE), 300cubits (Hong Kong) and Tradefin (USA) . They were chosen based on their ability to build and launch their core technology and be able to demonstrate traction and substantial use cases.
These selected companies will continue their journey through the "Future Now" scale up program, in which they will receive access to Etisalat digital resources and experts, office space and support needed to provide joint projects to the Etisalat customer base. As part of the fifth cohort of Dubai Future Accelerators, Etisalat Digital launched three challenges for companies worldwide in July this year. Of all the companies that applied, seven companies were selected to address these challenges. The companies have had the opportunity to get in touch with a number of important stakeholders and have access to resources and expertise.
Etisalat Digital has selected two companies, Yitu Technology (China) and Com IoT Technologies (UAE), for the first challenge that tried to exploit artificial intelligence for video surveillance systems and to create solutions able to reduce the rates of crime and road congestion. To support the vision of the United Arab Emirates 2021 to make the United Arab Emirates the safest place in the world, the challenge focused on scaleup that could provide solutions that analyze behavior and predict models related to crime, as well as improve the transport problems such as congestion and accidents and making automated decisions with the use of artificial intelligence on existing video surveillance systems. The second challenge concerns the use of Blockchain to reduce the costs and complexity of business process transactions for banks, governments and private organizations, with the goal of reducing costs and complexity by 40% in five years . 300cubits (Hong Kong) was selected for this challenge. Tradefin (USA) was selected for the latest challenge focused on the adoption of Blockchain to allow the exchange between various loyalty currencies and to transform a loyalty currency into an encrypted currency that can be used to execute online transactions and physical.
In line with the vision of Future Now to accelerate innovation, the partnerships will quickly follow the development of the latest technologies such as Artificial Intelligence and Blockchain to make use of the Etisalat clientele. The scale-up program is a key pillar of the Future Now ecosystem that aims to provide a collaborative platform for innovators, partners and customers to accelerate the adoption of such technologies at the forefront.
