UAE, Singapore firms to establish AI joint venture
UAE-based Big Data Analytics and AI company Presight AI Holding Ltd and TOTM Technologies Limited announced plans to establish a joint venture for the development and deployment of their combined proprietary technologies, marking a deepening collaboration between the ADX-listed tech provider and Singapore’s home-grown, SGX-ST Catalist-board listed biometrics and Digital ID solutions provider.
The joint venture agreement will establish an entity that will leverage Presight’s Big Data AI and Data Analytics capabilities to enable the scale-up deployment of TOTM’s Digital Identity products and solutions on cloud and on-demand. This will allow governments and enterprises to transform mission-critical infrastructure with intelligent new solutions that are data-driven, further opening new ways of working, operating and doing business with biometrics-driven Digital Identity.
For national governments who are transitioning to, or looking to implement national digital identity programs, the Presight x TOTM joint venture entity offers a public-private approach which turns national digital identity from a cost center to a profit center, enabling revenue-generating digital transformation at the national level.
The Presight x TOTM joint venture entity aims to provide open-standards and off-the-shelf technologies which minimises and reduces vendor lock-in, burdensome maintenance costs, and hinder interoperability to establish a future-proof foundation and propel national digital transformation at the national level, particularly in Middle East, Africa and South-East Asia markets.
The digital transformation include disrupting traditional industries by leveraging hardware-less e-KYC authentication, and building new digital systems and frameworks that may not require an internet connection for the deployment of contactless biometric authentication to unlock the power of a digital identity, secured with real-time liveness detection and supported with age classification.
Originally published at Arabian Post.
