Italian AI firm to bring AI urban solutions to Abu Dhabi: Abu Dhabi-based security firm Bold Technologies signed a USD 2.5 bn contract with Italian AI firm Synapsia which will see the Italian company provide Abu Dhabi with AI city management solutions, Synapsia CEO Daniele Marinelli told Reuters. The two companies are looking to set up a new firm, My Aion Inc, that could come to the ADX through an IPO sometime between 2027 and 2029.

The details: The USD 2.5 bn total will be paid in five installments over 18 months as the project progresses, and Abu Dhabi can expect to see Synapsia’s AI technologies used in issues including transport, parking, and emergency response to disasters. The companies said they aim to “[optimize] infrastructure, transportation, and energy use in real-time.”

AI is one of the sectors targeted by UAE-Italian bilateral efforts, with an MoU to expand cooperation in the field last month as part of a wider USD 40 bn investment from the UAE into Italy.

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