Abu Dhabi, UAE: Abu Dhabi Developmental Holding Company (ADDH) and Group 42 (G42) announced today the signing of an agreement to establish a joint venture to provide AI-enabled products and services to the portfolio companies of ADDH. Under the terms of the agreement, Adalytyx will be established as a separate legal and operating entity.
Adalytyx will leverage G42’s world-class digital products and domain expertise to develop a number of AI-driven business optimizations for ADDH group of companies. Solutions include applied AI research and scalable AI solutions for target industries.
The agreement will also enable ADDH to enhance efficiency and performance across its portfolio. With a mandate to pursue sustainable financial returns, ADDH is set to leverage technology in its ambition to create value, including artificial intelligence, data analytics, and machine learning.
Mohamed Al Suwaidi, CEO of ADDH, commented: “Our strategic partnership with G42 not only allows us to implement innovations and drive efficiencies across our portfolio of companies, but it also acts as a catalyst for digital modernization across multiple sectors of Abu Dhabi’s non-oil economy.”
Peng Xiao, CEO of Group 42, said: “As a leading technology provider in Abu Dhabi already working with clients across several sectors including healthcare, utilities and aviation, we are proud to partner with ADDH, one of the Emirate’s largest holding companies.”
“The partnership will allow ADDH portfolio of companies to implement digital and data transformation initiatives, as they prepare for the opportunities and challenges the 4th industrial age will inevitably present,” concluded Xiao.
The partnership with G42 is one of many digital transformation initiatives by ADDH as it plans to deploy world-class technology across its entire portfolio.
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About Abu Dhabi Developmental Holding Company
Headquartered in Abu Dhabi, Abu Dhabi Developmental Holding Company (ADDHC) was established in 2018 as a public joint stock company (PJSC). It holds a diverse portfolio of state-owned enterprises (SOE) spanning key sectors of Abu Dhabi’s economy, including utilities, tourism, transport & logistics, industries, real estate, media, healthcare, agri-foods and ICT.
With a clearly defined mandate to generate sustainable financial returns for the Government of Abu Dhabi, ADDH stimulates value creation by developing prominent cluster ecosystems and instilling a culture of performance and efficiency across its portfolio of companies.
In addition to its role as a strategic government partner, ADDH is an asset owner and investor in target sectors, both locally and internationally, which align with Abu Dhabi’s leadership vision.
ADDH is committed to developing a globally competitive Abu Dhabi and operates with world-class standards of governance.
About Group 42
Group 42 (G42) is a leading Artificial Intelligence and Cloud Computing company based in Abu Dhabi, uniquely positioned in the national ecosystem to develop and deploy holistic and scalable AI solutions.
G42 is founded on three core components: 1) fundamental and applied AI Research through its subsidiary the Inception Institute of Artificial Intelligence, 2) a leading Cloud Computing Platform capable of powering the largest and most demanding customers in the region 3) high-impact AI solutions optimized for a wide range of industries.
G42’s strategic direction is aligned with the vision and priorities of the UAE leadership, covering such sectors as: Smart City, Healthcare, Financial Services, Oil and Gas, Utilities, Education, Aviation, Hospitality and Tourism.
G42 has an active and extensive partnership network, connecting leading international organizations who complement our ecosystem and support our vision.
For further information on G42 visit www.g42.ai.
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