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Telco Etisalat, based in Dubai, announced Monday that it has chosen four startups for the development of artificial intelligence and blockchain technologies.
The four companies were selected to take part in the Etisalat "Future Now" scale up program, which includes access to the resources, experts and office space of Etisalat Digital to help them find joint applications for the telco customers.
Chinese Yitu Technology and Com IoT Technologies based in the United Arab Emirates have been chosen to develop video surveillance systems and solutions to improve traffic flows while reducing crime rates using artificial intelligence.
Etisalat Digital has chosen the 300 Cubans of Hong Kong to reduce transaction costs and complexity in business processes for banks, private organizations and government agencies using blockchain. The goal with blockchain is to reduce costs by 40% over the next five years.
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Tradefin, headquartered in the United States, was chosen to adopt blockchain to enable trade between the various loyalty currencies and to develop a means to transform a loyalty currency program into cryptocurrency that can be used for both online transactions that physical. A loyalty currency program is designed to motivate customers to participate in a company's loyalty program.
The scale-up program is one of the pillars of Etisalat's Future Now ecosystem designed to provide a collaborative platform for partners, developers and customers to accelerate the innovation rate for technologies such as artificial intelligence and blockchain.
Etisalat, which competes mainly with du in the United Arab Emirates, has been active on the 5G front with several tests in view of the implementations planned in Dubai this year. Etisalat has collaborated with Huawei on various technologies and services.
