New partnership promoting AI innovation on back of Investopia

Investopia 2024 saw the signing of a strategic partnership between Gewan AI and Eros Investments to enhance cooperation and share experiences in AI, innovation and advanced technology solutions and applications.

Attended by Abdulla Bin Touq Al-Marri, Minister of Economy, Chairman of Investopia, Ali Hussein, CEO of Immerso AI, a subsidiary of Eros Investment, and Dr Ghada Alhudhud, Managing Director of Gewan AI, the agreement’s signing highlights Investopia’s efforts to empower business communities and stimulate new projects and investments in the knowledge, innovation and technology sectors.

Waleed Alhadhoud, Chief Executive Officer of Gewan AI, said, “Gewan AI is a UAE company located in Abu Dhabi that provides advanced AI products that serve police, health, media and retail sectors. Gewan AI looks forward to working closely with the Ministry of Economy on joint AI projects in the region, propagating the principles of Ethical AI with both clients and partners to develop cutting edge Commerce Model that serves various sectors of AI trade systems, secure media transmission, entertainment, retail systems.“

Alhadhoud also mentioned, “Our suite of AI services is meticulously designed to elevate your business, through smart solutions that can be embedded in current IT technologies to empower these technologies with AI features and services”.

Dr Ghada Alhudhud said that the application of Generative AI models & LLM’s within the region is eminent with the evolution of deep technology. “Gewan AI hub & Smart Solutions aims at boosting Generative AI Models development to be specific to industry and objectives. We are excited about our partnership to further scale our development to reach partners and clients across the world,” said Dr. Ghada.

“The application of Generative AI models & LLM’s within the region is eminent with the evolution of deep technology. Localization and customization is going to be a large part of product adoption, and we are excited to work with Gewan AI in product Integration to drive value and further extended our investments in the UAE and the Middle East,” said Ali Hussein.

Gewan AI is at the forefront of the artificial intelligence industry and has set ambitious objectives by actively promoting R&D, with the aim of revolutionising the operations of various sectors while empowering businesses through smart solutions. Its strategy to achieve this includes unlocking AI’s boundless potential and leveraging its immense power to enhance operational efficiency and address the diverse challenges faced by companies.

Eros Investment directs its attention to investing in the next generation of intellectual property, blockchain technologies, generative AI, tokenisation, and the digital entertainment and gaming sectors. Additionally, the company aims to collaborate with individuals and businesses that share a common vision to launch innovative projects in these sectors successfully.

The signed agreement between the two companies seeks to create a collaborative framework in AI. Its objective is to enhance joint research and development initiatives for smart solutions while facilitating the exchange of knowledge, experiences, and resources. The ultimate goal is to develop cutting-edge AI-based applications catering to local, regional, and global requirements. Additionally, the agreement aims to foster responsible AI practices and ethics. This will be achieved by organising seminars, workshops, and conferences to build capacities and skills.

The signing of the agreement serves as a new indicator of Investopia’s dedication to embracing investors and companies in the new economy sectors, particularly AI. It also introduces the vast opportunities within this field and encourages the private sector to foster an economic model rooted in innovation and knowledge. This aligns with the “We Are the UAE 2031” vision, which aims to position the UAE globally as a leading competitive and appealing hub for the new economy and innovative projects.

Earlier, Investopia 2024 witnessed the signing of two memorandums of understanding (MOUs) between the UAE and the Republic of South Korea. The first MOU was signed by the Dubai Multi Commodities Center (DMCC) and the Korean Institute of Startup and Entrepreneurship Development (KISED), while the second partnership is between the Dubai Future District Fund (DFDF) and the Korea Venture Investment Corporation (KVIC).

The MOUs underline Investopia’s role in enhancing dialogue and connectivity between national and international institutions and bodies, creating promising opportunities for business communities. It contributes to developing new partnerships that support the shift towards new economic sectors, and enhancing investment horizons in the venture capital sector, small and medium enterprises, entrepreneurship, financial technology, artificial intelligence, and the circular economy as key sectors that lead the world’s economies to sustainable growth.