Source: Cointelegraph
Original: “Bold Technologies and My Aion Launch $2.5 Billion AI Smart City Platform”
Bold Technologies, a subsidiary of Bold Holdings based in Abu Dhabi, has partnered with international AI company My Aion to launch a $2.5 billion smart city initiative aimed at transforming urban infrastructure through AI technology.
The two companies announced the development of a platform called Aion Sentia Cognitive City, designed to manage complex urban systems. The platform will be powered by My Aion's AI core engine, Maia, which aims to optimize and manage systems such as transportation, energy, education, healthcare, and digital services.
My Aion CEO Daniele Marinelli stated that this AI will understand users well enough to “recommend the perfect place for your anniversary dinner and complete the reservation without you lifting a finger.”
The project will debut in Abu Dhabi before expanding to international markets, with a launch expected within 18 months.
The project adopts a $2.5 billion Build-Operate-Transfer (BOT) model, a public-private partnership model used for large infrastructure and technology projects.
Under this model, private sector entities are responsible for building the infrastructure and operating and managing the systems for a specified period. The involved companies typically recoup their investments and earn profits during the operational phase.
After the deadline set by all parties, ownership and control of the systems developed under the BOT model will be transferred to the government or public sector entities.
Bold Technologies CEO Thani Al Thani Al Falasi stated that the initiative will support job creation in the UAE. Thani said, “This initiative will create job opportunities for UAE nationals, promote local innovation, and make a meaningful contribution to the national AI ecosystem.”
My Aion's Marinelli mentioned that relocating to Abu Dhabi opens a new chapter for their global operations. Daniele said, “The UAE provides the infrastructure and institutional support needed for responsible and strategic expansion.”
Cointelegraph has reached out to Bold Technologies and My Aion for more information.
On May 20, a project called Catena Labs, led by Circle co-founder Sean Neville, announced the creation of an AI-native financial institution. The project stated that while AI systems can utilize traditional payment forms, they gain “superpowers” when combined with stablecoins.
Additionally, Binance co-founder and former CEO Changpeng Zhao (CZ) stated at the Token2049 event in Dubai that “the currency of AI is cryptocurrency.” Zhao claimed that AI can leverage blockchain technology, with use cases far beyond one-click token issuance.
Related: Blackstone Makes Its First Foray into Cryptocurrency, Purchasing $1 Million in Bitcoin (BTC) ETF
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