Etisalat Digital announced its new set of challenges for the 5th cohort of Dubai Future Accelerators (DFA) focusing on creating smart innovative solutions based on emerging technologies like Artificial Intelligence (AI) and Blockchain.
The partnership with the government-supported accelerator is part of Etisalat Digital strategy to bring the latest technologies and innovations to enable a smart ecosystem. The technology themes for the challenges under the fifth cohort of this program revolve around using AI and Blockchain to address key areas of any smart city.
In support of UAE 2021's vision of making the UAE the safest place in the world and to enhance transportation, the first challenge focuses on reducing crime and road congestion using AI on video surveillance systems by analyzing behavior, predicting crime-related patterns, congestion, and road accidents. It also includes enabling automated decisions that alert the concerned authorities.
The second challenge focuses on using Blockchain to reduce transactional costs and complexity in B2B processes between banks, government, and private sectors by 40% within five years.
For its third challenge, Etisalat Digital would like to adopt Blockchain to allow exchange across various loyalty currencies and to transform a loyalty currency into a crypto currency that can be used to perform online and physical transactions.
Francisco Salcedo, Senior Vice President, Etisalat Digital, said, "We are looking forward to the 5th cohort with Dubai Future Accelerators. Our partnership with the accelerator supports us in collaborating with innovative companies worldwide to bring the latest innovation to our customers. For the 5th cohort, we chose to address two of the key emerging technologies in UAE, Blockchain and Artificial Intelligence, to explore new opportunities and solutions, and support the UAE agenda for 2021."
Applications are open to companies across the globe to address any of these challenges along with technology experts from Etisalat Digital. Companies will be shortlisted and selected as part of a nine-week DFA program expected to start in September.
Towards the end of the program, Etisalat Digital will sign a commercial agreement with selected companies who will then be on boarded in the Etisalat Scale-Ups Program where they will receive access to Etisalat Digital resources and experts, office space, and support needed to deliver joint projects.
Dubai Future Accelerators was launched in 2016 by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and the Chairman of Dubai Future Foundation under the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Ruler of Dubai. The program is a government initiative that aims to bring the world's most exciting and transformative technology start-ups to Dubai to collaborate with local entities and find solutions for future challenges.