INTLBM
  • Home
  • Banking & Finance
  • Corporate
  • News
  • Technology
  • Blog
  • Lifestyle
  • News
  • Magazines
  • Events
  • Videos
  • Magazine
  • Awards
  • Nomination
  • Get Listed
  • Submit Article
  • About us
  • Get In Touch
  • Sitemap
Facebook Twitter Instagram
Sunday, April 2
Facebook Twitter Instagram YouTube LinkedIn
INTLBMINTLBM
Get listed
  • BANKING & FINANCE
  • TECHNOLOGY
  • CORPORATE
  • LIFESTYLE
  • NEWS
  • BLOG
  • EVENTS
    • AWARDS 2023
  • AWARDS
  • VIDEOS
  • MAGAZINE
Facebook Twitter Instagram YouTube LinkedIn
INTLBM
You are at:Home » Saudi Arabia Backed AI Startup Intelmatix nurtures out more funds from STV, Sultan Holdings to boost AI technology in territory

Saudi Arabia Backed AI Startup Intelmatix nurtures out more funds from STV, Sultan Holdings to boost AI technology in territory

August 16, 2021
Facebook Twitter LinkedIn Email
Image Credit: - Image By Gerd Altman from Pixabay.com
Share
Facebook Twitter LinkedIn Email

Saudi Arabia-backed Artificial Intelligence (AI) Start-up Intelmatix had nurtured funds in a round that is powered out by STV and Sultan Holdings. The economic details of the round were not revealed.

Initiated this year by a group of talented MIT graduates, Intelmatix directs on Location Intelligence which plans the associations between spatial, social, economic, and demographic data and creates forecasts utilizing the AI and advanced analysis, as according to a press release.

The Co-founder and chief executive officer of Intelmatix, Anas Alfaris, stated out that, “Artificial Intelligence offers opportunities worth billions. In the Saudi Arabian market alone, Location Intelligence opportunities exceed SR2 billion annually, and globally, the value is more than SR100 billion each year.”

“The idea of Intelmatix was not born overnight. “Our strategy crystallised through years of collaboration between the R&D sector and the business sector. Then the Saudi Vision 2030 provided the regulatory and technical enablers to support the launch of Intelmatix by providing the ideal innovation environment,” he added.

Preceding to this year, Saudi Arabia devoted to becoming a global leader in AI throughout a roundtable dialogue with Italian technology experts. The Kingdom requests to become a central force in the field within the forthcoming eight years, in line with the Saudi Vision 2030 reform plans and confirmed its interest in cooperating with Italy.

AI in the Middle East is anticipated to nurture significantly to exceed SR1 trillion in a decade’s time. The Kingdom alone will account for half of it, where AI will be the major contributor at least SAR500 billion to the Saudi economy within the year 2030.

# Sultan Holdings #Anas Alfaris #Artificial Intelligence #IntelMatix #International Business Magazine #Intlbm.com #Magazine #Middle East #News #Saudi Arabia #Saudi Vision 2030 #Technology
Share. Facebook Twitter LinkedIn Email
Previous ArticleWithin this year during 2021, the 5G Network Infrastructural Worth is all set to progress at 39 percent
Next Article Trend Micro partners with Oregon systems to empower enterprises in the region with operational technology security

Related Posts

Bahwan CyberTek partners SmarterD to support clients in MENA create digital resilience

March 31, 2023

AiFlux entered into a full-spectrum partnership with Software AG

March 31, 2023

Injazat partners with Nexthink for enabling smart digital workplaces

March 29, 2023
Latest Posts

Incorporation of Artificial Intelligence into Mental Healthcare

March 31, 2023

Sterve announces expansion in Oman

March 31, 2023

Bahwan CyberTek partners SmarterD to support clients in MENA create digital resilience

March 31, 2023

PATRIZIA partners iCapital for expand private wealth offering

March 31, 2023
International Business Magazine
International Business Magazine
About

International Business Magazine is a UAE-based online publishing company with a subscriber base of more than 50,000 that includes investors, C-suite employees, key stakeholders, policymakers and government bureaucrats. We deliver the latest news from the financial world and keenly promote innovative solutions in the industry.
Contact Us: info@intlbm.com

Socials
Facebook Twitter Instagram YouTube LinkedIn
Copyright © 2023. International Business Magazine, LLC. | ALL RIGHT RESERVED.
  • Terms & Conditions
  • Privacy Policy
  • About us
  • Get In Touch

Type above and press Enter to search. Press Esc to cancel.