Abu Dhabi -based bold technologies, a subsidiary of Conglomerate Bold Holdings, has cooperated with the International Artificial Intelligence Firm to launch a $ 2.5 billion Smart City Initiative aimed at changing urban infrastructure through AI.
The companies announced The development of a platform called Aion Senia Cognitive City, which manages complex urban systems. The platform is activated by the Maia, an AI Core engine developed by my Aion, and aims to optimize and manage systems throughout mobility, energy, education, health care and digital services.
My Aion CEO, Daniele Marinelli, Says AI will know the user enough to “recommend the perfect place for your dinner anniversary and book it for you without lifting one finger.”
The project will be able to attend Abu Dhabi before expanding worldwide and is expected to be launched at 18 months.
AI’s multibillion-dollar project to create jobs for UAE citizens
The project is outlined under a $ 2.5 billion build-operate-transfer (BOT) model, a public-private cooperation model for large-scale infrastructure and technology projects.
Under the model, private sector entities build infrastructure, operate and manage the system for a certain period of time. Companies also usually revoked their investment and earn revenue during operation.
At the end of the time set by the parties involved, the ownership and control of the systems developed by the BOT model was transferred to the government or a public creature sector.
Bold Technologies CEO Thani Al Thani Al Falasi said the initiative will support work creation for UAE citizens. “This initiative will support work creation for UAE citizens, promote local change and significantly contribute to the AI national ecosystem,” he said.
Meanwhile, Marinelli of my Aion said the move to Abu Dhabi gives their global operation a new chapter. “The UAE offers infrastructure and institutional support needed to measure responsible and strategic,” Marinelli said.
Cointelegraph reached out to the technologies and my Aion for more information.
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On May 20, the Catena Labs, a project chaired by Circle co-founder Sean Neville, announced that it was Create an AI-nutrong financial institutions. The project said that while AI systems can use traditional forms of payment, “they get superpowers” when paired with stablecoins.
In addition, Binance’s co-founder and former CEO Changpeng Zhao Says In the event of token2049 in Dubai “the money for AI is crypto.” Zhao said AI may use blockchain technology and have more use cases than just launching tokens in a click.
https://www.youtube.com/watch?v=JEG7VSPG2Gy
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