- MMG expertise and innovative services to support Kingdom’s expected Artificial Intelligence contribution of over US$135.2 billion to the economy by 2030
- MMG’s growth in MENA at 120% monthly
Saudi Arabia, Riyadh: MMG (MedLab Media Group), a Spanish technology start-up focused on supporting and enhancing daily clinical practice and decision making, announced it has signed a MoU with Advanced AI LLC, a Saudi company specialized in Artificial intelligence (AI) technology and products. Expert, Dr Fatmah Baothman, who is the first woman in the Middle East with a PhD in Modern Artificial Intelligence, is advising on the collaboration. She is a regionally well-known expert in AI and has expertise in technologies driving the Fourth Industrial Revolution such as Blockchain/AI/Internet of Things.
The strategic partnership was signed at the occasion of Arab Health 2019 held in Dubai. MMG showcased their innovative product (MedsBla), which includes an encrypted communication system for the healthcare environment, a newly developed semantic search engine for medical use based on artificial intelligence and a digital card for medical professionals. These e-health tools are designed to facilitate secure medical data transfer through Blockchain in a highly regulated sector and empower knowledge transfer between doctors and medical experts through immediate access to information regardless of their geographical location.
MMG and Advanced AI LLC’s mission is to boost AI development in line with the Kingdom’s 2030 vision and collaborate with the expert Saudi team for consultancy, training, development and the creation and establishment of a joint laboratory for AI to support researchers and universities to create products based on Neuro-Linguistic Programming (NLP) and Natural Language Processing (NLU). Both parties are planning to collaborate on several projects including Blockchain technology and Big Data.
MMG introduced to the market its first e-health tools based on AI, machine learning and Internet of Things (IoT) last year during the Global Health Exhibition 2018 in Riyadh, Saudi Arabia. It is expanding quickly in the region due to recent major developments and initiatives in the healthcare sector undertaken by the government. For instance, statistics from the World Bank show that Saudi Arabia (47.9 per cent) and the UAE (26 per cent) are the largest contributors to the region’s healthcare spending.
On the other hand, and according to a study from PwC identifying the potential impact of AI in the Middle East, the market is expected to reach US$114 million by 2021 and sectors such as education, oil/gas and SMEs/start-ups are the three sectors that will play a key role and be transformed by AI. In Saudi Arabia and in line with Vision 2030, authorities have driven the development of AI technologies to achieve digital transformation. PwC estimates the Kingdom’s AI contribution to the economy will reach over US$135.2 billion by 2030.
Fatmah Baothman, Saudi Doctor of Artificial Intelligence said: "The Kingdom is going into a digital transformation enabling several technologies such as AI and Blockchain. There will be great opportunities for investment, developments as well as services. Medlab has advanced technology for healthcare, it is based on the Cognitive Computing concept using NLU, Machine Learning, Automated Reasoning, Information Retrieval and supports human-like interaction. Such technology could make a paradigm shift in healthcare services."
Oleg Vorontsov, CEO at MMG said: "We want to offer the entire global medical community equal opportunities by providing immediate access to information, regardless of geographic location and economic situation. We have made significant progress since our official launch last year and are on the right track to fulfil our ambition to create the largest global network of healthcare professionals with access to a world-class, online reference hub, supported by Blockchain technology, AI and encrypted communication systems.
“MMG plans to cooperate with Dr Fatmah, a regional AI pioneer, and it will be an important milestone for the company’s expansion in the region. Her expertise will help us further develop and create new products that will benefit the medical sector. Since the healthcare and AI sectors are key to achieving Vision 2030, we want to be among the technological leaders advancing the Kingdom’s vision and achieving its objectives with the introduction of innovative and quality services.”
In the MENA region, MMG currently operates through a subsidiary office located in Dubai. The company recently reported over 125,000 registered users globally for its encrypted communication system. There’s a growing demand in Saudi Arabia, the UAE and the broader MENA region that is contributing to 120% increase in subscribers per month globally.
About MedLab Media Group
MMG is a technological start-up which was founded in the end of 2015 to offer the physician of the future with tools to facilitate daily clinical practice and decision making, with 75 highly specialized employees in fields not limited to computer science, research, design, journalism and business. The company is headquartered in Madrid, Spain, with offices in Dubai (United Arab Emirates), Mumbai (India) and Mexico City (Mexico). It has the institutional support of CONFEMEL (Latin American and Caribbean Medical Confederation) and works with public and private organizations, such as the Rey Juan Carlos University, the Medical College of Mexico or BlockImpulse.
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© Press Release 2019