A $2.5 billion AI-powered platform that will debut in Abu Dhabi, United Arab Emirates, was revealed by Bold Technologies and My Aion.
Based in Abu Dhabi, Bold Technologies, a division of the conglomerate Bold Holdings, has teamed up with global AI startup My Aion to start a $2.5 billion smart-city project that will use AI to change urban infrastructure.
The businesses revealed the creation of a platform that controls intricate metropolitan systems, named Aion Sentia Cognitive City. Maia, an AI core engine created by My Aion, will power the platform to optimize and manage systems in digital services, education, healthcare, energy, and mobility.
The AI will know the user well enough to “recommend the perfect place for your anniversary dinner and book it for you without you lifting a finger,” according to Daniele Marinelli, CEO of My Aion.
The initiative will make its debut in Abu Dhabi before going global. We anticipate launching it in 18 months.
AI project worth billions of dollars to generate employment for UAE citizens
A $2.5 billion Build-Operate-Transfer (BOT) model, which is a public-private partnership model for major infrastructure and technology projects, governs the project’s structure.
The model states that private sector organizations build the system’s infrastructure and operate and maintain it for a predetermined time. During the operating phase, the businesses typically recover their investments and turn a profit.
Ownership and control of the systems created using the BOT model are turned over to the government or a public sector organization after the time frame agreed upon by the partners.
According to Thani Al Thani Al Falasi, CEO of Bold Technologies, the effort will help create jobs in the United Arab Emirates. “This project will help create jobs for UAE citizens, encourage local creativity, and significantly contribute to the country’s AI ecosystem,” he stated.
According to Marinelli of My Aion, moving to Abu Dhabi opens a new chapter for their international business. Marinelli states, “The UAE provides the institutional support and infrastructure required to scale responsibly and strategically.”
Proponents of cryptocurrency claim that digital assets could help AI.
Circle co-founder Sean Neville announced on May 20 that Catena Labs would establish an AI-native banking institution. The initiative noted that while AI systems may use regular means of payment, they “gain superpowers” when combined with stablecoins.
In addition, Binance co-founder and former CEO Changpeng Zhao said at the Token2049 event in Dubai that “the currency for AI is crypto.” Zhao claims that AI is capable of using blockchain technology and has many more uses than just releasing tokens with a single click.
