Presight AI ties up with Singapore group for proprietary tech deployment

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UAE - Presight AI Holding (Presight), a unit of leading UAE-based Big Data Analytics and AI company G42, and TOTM Technologies Limited (TOTM) have announced plans to establish a joint venture [via their wholly-owned subsidiaries] for the development and deployment of their combined proprietary technologies.

The joint venture entity aims to provide open-standards and off-the-shelf technologies which minimises and reduces vendor lock-in, burdensome maintenance costs, and hinder interoperability to establish a future-proof foundation and propel national digital transformation at the national level, particularly in Middle East, Africa and South-East Asia markets.

It marks a deepening collaboration between the ADX-listed tech provider and Singapore’s home-grown, SGX-ST Catalist-board listed biometrics and Digital ID solutions provider, said a statement from Presight.

The joint venture agreement will establish an entity that will leverage Presight’s Big Data AI and Data Analytics capabilities to enable the scale-up deployment of TOTM’s Digital Identity products and solutions on cloud and on-demand.

This will allow governments and enterprises to transform mission-critical infrastructure with intelligent new solutions that are data-driven, further opening new ways of working, operating and doing business with biometrics-driven Digital Identity, it stated.

For national governments who are transitioning to, or looking to implement national digital identity programs, the Presight x TOTM joint venture entity offers a public-private approach which turns national digital identity from a cost centre to a profit centre, enabling revenue-generating digital transformation at the national level, it added.

The agreement was signed at Gitex 2023 by Thomas Pramotedham, CEO of Presight and Pierre Prunier, CEO & Executive Director of TOTM, in the presence of Kamal R. Vaswani, Singapore’s Ambassador to the UAE.

"We are excited to partner with TOTM to develop, integrate and deploy biometric AI solutions in the public safety, healthcare and fintech sectors in the Middle East, Africa and South-East Asia regions, noted Pramotedham.

"Together, this partnership is uniquely positioned to further support our clients, and the region, on their digital transformation journeys, and elevate the digital ecosystem to deliver long-term and sustainable value with our combined technologies. A robust and dynamic digital identity platform is an essential cornerstone to develop a stronger and more inclusive, safer and resilient digital society. TOTM has a deep appreciation for our value proposition and adds strong execution experience and robust technology platforms for identity management and biometrics. We look forward to our future partnership," he added.

Prunier said this was a significant milestone in TOTM’s journey as it leads the way with the group's unique approach which makes it easy for countries to make the transition to digital-first national ID systems through the adoption of the Public-Private-Partnership model.

"The establishment of this joint venture entity will allow us to address issues arising from outdated ICT architecture, better prepare us to adopt and adapt to emerging technologies and social imperatives, enable cost-effective implementation and operation, and will extend the reach and utility of foundational identities to provide increased value to governments and users alike," he added.