Future Now, the innovation program of the United Arab Emirates telematics company, has signed agreements with four companies to develop solutions of artificial intelligence (AI) and Blockchain.
The signing ceremony also marked the opening of the Future Now collaborative space for the partners of Etisalat Digital – Yitu Technology (China), Com IoT Technologies (UAE), 300cubits (Hong Kong) and Tradefin (USA), State WAM news agency reported.
As part of the fifth group of Dubai Future Accelerators, Etisalat Digital launched three challenges for companies worldwide in July.
Etisalat Digital has selected two companies – Yitu Technology and Com IoT Technologies – for the first challenge that tried to exploit artificial intelligence for video surveillance systems and to create solutions able to reduce crime rates and road congestion.
The challenge focused on scales that could provide solutions to analyze behavior and predict crime-related patterns, as well as improve transport problems such as congestion and accidents, and make automated decisions with the use of IA 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 has been selected for this challenge.
Tradefin has been selected for the third challenge that focuses on the adoption of Blockchain to allow the exchange between different loyalty currencies and to transform a loyalty currency into a cryptocurrency that can be used to perform online and physical transactions.
WAM said the partnerships will accelerate the implementation of the latest technologies to make use of Etisalat's customers. 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.
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