Abu Dhabi big data analytics firm Presight AI is set to forge a joint venture with Kazakhstan’s sovereign wealth fund.

The partnership is meant to accelerate the digital transformation of Samruk-Kazyna, a major sovereign wealth fund with $70 billion in assets, Presight said in a bourse filing on the Abu Dhabi Securities Exchange (ADX) on Thursday.

The joint venture, which Presight described as “groundbreaking”, is also seen as a “facilitator” for AI-enabled solutions across the Eurasian market.

“Both Samruk-Kazyna and Presight will embark on a joint venture aimed at accelerating digital transformation through the deployment of Presight’s AI and data analytics solutions and technologies to boost operational efficiency, minimise production losses and develop human capital across Samruk-Kazyna’s portfolio companies,” the company said.

Samruk Kayzana is Kazakhstan’s wealth fund and a joint stock company established in 2008. It owns  huge stakes in a number of businesses in the country.

(Writing by Cleofe Maceda; editing by Seban Scaria)