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Thndr Claps » Saudi Claps » Funds 🤑 » SCAI and SenseTime strike agreement 🤖

SCAI and SenseTime strike agreement 🤖

by Omar El Shorafa
September 14, 2022
سكاي، صندوق الاستثمارات العامة، كلابس

The Clap
SCAI, a subsidiary of the Public Investment Fund, has signed an agreement with Hong Kong-based SenseTime.

The Deets
The agreement aims to establish a new company in KSA for SAR 776 million to finance an advanced artificial intelligence laboratory

This is to create jobs for talented Saudis, with the aim for the country to lead in the field of artificial intelligence technology in the region.

Artificial Intelligence Lab
The AI Lab will be a dedicated R&D hub, allowing the next generation of data scientists to benefit from technology transfer, in addition to SenseTime’s extensive experience in the field.

What Now
SCAI will work with SenseTime to develop digital solutions such as smart cities, business intelligence, healthcare, and education.

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