Rafael Advanced Defense Systems of Israel, and Group 42 (G42), a leading technology company based in Abu Dhabi, announced Monday the signing of an agreement to form a new Joint Venture (JV) that will commercialize Artificial Intelligence (AI) and Big Data technologies and solutions for multiple sectors.
“In bringing together two of the most active and successful players in the fields of AI and Big Data, the new JV, called Presight.AI, will combine the companies’ knowledge, personnel, technology, and resources to conceptualize, develop, and deploy best-in-class solutions in various programs in the region and globally,” a statement on the new venture said.
The signing event, held in Herzliya, Israel, was attended by UAE’s Ambassador to Israel Mohamed Mahmoud Al Khaja, G42’s Group CEO Peng Xiao, Rafael’s President and CEO Yoav Har-Even, CEO of G42 Israel Maoz Ben Ari, CEO of Presight.AI Sean Teo, and other dignitaries.