Best-in-Class Solutions for Banking, Healthcare, Public Safety and Others
Rafael and Abu Dhabi-based Group 42 have agreed to establish a joint venture (JV), called Presight.AI, to commercialise artificial intelligence (AI) and ‘big data’ technologies and solutions for multiple sectors, including defence.
Combining the knowledge, personnel, technology, and resources of the two principals to conceptualise, develop, and deploy best-in-class solutions in multiple programmes, regionally and globally, the JV will establish an R&D center in Israel, tapping into local talent to spearhead their application across multiple sectors such as, banking, healthcare, public safety and others. The agreement is subject to regulatory approvals by both Israeli and UAE authorities.
G42 brings significant expertise in the research, development and deployment of AI for both public and private sectors, and operates a powerful cloud computing infrastructure set to become the largest in the region. A frontrunner in the global fight against COVID-19, G42 has provided nationwide detection and diagnostic solutions, while also contributing to the successful rollout of vaccine clinical trials and distribution in the UAE. A key player in the digitisation of large enterprises and governments, the company announced last week a major investment from US-based investment technology firm, Silver Lake.
Rafael Advanced Defense Systems is a national R&D centre, with a wide range of cutting-edge technologies. It is a world leader in AI and ‘big data’ technologies, and has implemented its extensive knowhow and expertise in many of its defence and civilian solutions. Experienced in intelligence collection and processing, as well as cyber and space technologies, the company’s expertise in AI enables clients to achieve and maintain technological superiority, assisting them with decision-making at the national level.
“The new JV between Rafael and G42 is not just two companies coming together, but a strategic collaboration that further strengthens the relationship between Israel and the UAE, as the countries explore multi-faceted opportunities for bilateral economic growth. The signing of the historic Abraham Accords last year has already enabled trade and investment across several sectors and is a testament to the many opportunities that lie ahead. We are still at the beginning of an exciting journey, and I look forward to more collaborations and bi-lateral agreements between our dynamic and innovative nations,” stated the UAE Ambassador to Israel, Mohamed Mahmoud Al Khaja.
“The significant resources Rafael has invested over the years in AI and Big Data technologies, both for defense and commercial applications, have catapulted us to become a global authority in these fields. Through Presight.AI, we will unravel the immense potential embodied by the two companies, by synergizing with G42, to take our joint expertise and complementary capabilities to the next level. Rafael will continue to broaden its global cooperation, as we strive to expand into further fields, and establish similar partnerships worldwide,” commented Rafael’s President & CEO, Yoav Har-Even.
Peng Xiao, Group CEO of G42, added “We look forward to jointly developing new technological capabilities and business opportunities where G42 and Rafael can combine our strengths for the benefit of our region and the world […] This new JV, powered by the best minds in the industry, is destined to become a global force of innovation.”