UAE’s Presight, Intel partner to advance AI innovation

Image credit: Illustration by Idrees Abbas/ Getty Images

Artificial intelligence (AI) firm Presight AI Holding has partnered with cloud computing and PC solutions firm Intel to accelerate applied AI projects and develop cutting-edge AI solutions in the Middle East.

The two companies will lead the development of AI products, including smart cities through innovative research and development (R&D) initiatives, focusing on leveraging open-source tools and industry standards to optimise AI software for efficient AI workloads.

“Together, we combine Intel’s leading technology capabilities with our deep insights in big data and AI, aiming to drive significant advancements. This collaboration goes beyond technical achievements; it’s about creating real value and lasting impact on our stakeholders and society,” said  Thomas Pramotedham, CEO of Presight.

The partnership seeks to strengthen data security and privacy by implementing confidential AI technologies – including safeguarding sensitive data used in AI models during the AI lifecycle, from data training to inference stages.

Leveraging Intel trust authority technologies, the platforms running AI models will be verified for trustworthiness, ensuring data security and integrity throughout the AI ecosystem.

Meanwhile, Presight acquired a majority stake in ADNOC Group and G42 technology joint venture, AIQ, earlier in May.

By integrating AIQ and Presight’s big data analytics and AI offerings, the three Abu Dhabi-backed companies will realise operational efficiencies and synergies while meeting different customers’ requirements.

The AI firm will hold a 51 per cent shareholding in AIQ under the new arrangement with ADNOC retaining a 49 per cent stake, valuing the firm at $1.4bn.

With a market capitalisation of Dhs14.3bn as of May 17, 2024, Presight’s quarterly net profit rose by 32.5 per cent year-on-year (YoY) to Dhs95.9m while its revenue soared by a record Dhs35.9m to Dhs262.1m, up 15.9 per YoY.

Read: Microsoft invests $1.5bn in UAE’s G42 to power AI adoption