The companies will pursue innovation in the fields of artificial intelligence, IoT and blockchain technologies
Dubai based telco, Etisalat, has signed agreements with four international start-ups to take part in its Future Now scale-up project.
Yitu Technology (China), Com IoT Technologies (UAE), 300cubits (Hong Kong), and Tradefin (USA), were selected from an extensive list of competitors, for their ability to build and launch their core technologies, according to a company release.
Yitu Technology and Com IoT Technologies will work on strategies to leverage artificial intelligence (AI) in video surveillance technology to help reduce crime rates and road congestion.
"To support the UAE 2021 vision of making the UAE the safest place in the world, the challenge focused on scaleups that could deliver solutions that would analyse behaviour and predict crime-related patterns, in addition to enhancing transportation issues like congestion and accidents, and take automated decisions with the use of artificial intelligence on existing video surveillance systems," a spokesman for Etisalat said.
Hong Kong based 300Cubits will focus on strategies for reducing barriers to the adoption of blockchain solutions around the world.
"[300Cubit will] address the use of blockchain to reduce the transactional costs and complexity in business processes for banks, governments and private organisations, with the goal of reducing the costs and complexity by 40 per cent over five years," the spokesman said.
US firm Tradefin was also selected to work on potential solutions that facilitate the fast rollout of blockchain solutions, focussing on streamlining techniques for enabling exchange across various loyalty currencies and transforming a loyalty currency into a crypto currency.