ABU DHABI, 27th November, 2022 (WAM) — NEXT50 today launched PLATFORM50, a one-stop-shop solution for organisations to maximise business value and address tomorrow’s challenges.
The announcement was made at NEXT50’s inaugural Executive Day – which spotlighted the latest in state-of-the-art technologies including artificial intelligence (AI) and real-world applications accelerating a data-driven future in three key industries – mobility, logistics, and utilities. The NEXT50 Executive Day saw the attendance of key industry leaders in the UAE.
With AI is set to contribute up to $15.7 trillion to the global economy in 2030 and $320 billion to the Middle East alone, PLATFORM50 is designed to support organisations as they accelerate the adoption of AI, advanced analytics-based solutions, and automation to meet their growth and sustainability goals.
The launch aligns with the UAE National Innovation Strategy and the UAE’s Fourth Industrial Revolution Strategy which aims to contribute to the national economy by advancing innovation and future technologies, with AI expecting to contribute 13.6 percent of the UAE’s GDP by the end of the decade based on a report published by the World Economy Forum.
The transformative impact of Al has led to an upsurge in the volume of data – industrial data is doubling roughly every two years and the global data economy to be worth more than $400 billion by 2025, according to PWC. PLATFORM50 enables organisations to store and share all types of data as well as support lifecycle data management strategy.
The scalable big data platform features four agile, innovative modules that convene people, assets, and data and offers the benefits of supporting a full lifecycle data management strategy, access to real-time advanced analytics, delivering on a more effective digital transformation for organisations, and leveraging data insights to unlock cost efficiencies.
Ibrahim Al Mannaee, CEO – NEXT50, said, “AI, machine learning, and data, underpinned by deep industrial expertise, have the potential to transform the way businesses operate. AI will have a profound impact on the growth of the non-oil sectors in the UAE, seeing up 34 percent annual growth of the contribution to AI to its economy and industry sectors. To accelerate this transformation, a future-proof, cloud-agnostic platform that offers full lifecycle management is an imperative to leverage this $96 billion opportunity in the UAE. As pioneers of Industrial AI at the forefront of Abu Dhabi’s technology vision, we are proud to launch PLATFORM50, an end-to-end solution to address the most pressing challenges businesses face on their AI and data journey.”
Ussama Dahabiyeh, CEO – Injazat, said, “AI-powered processes and data-driven insights are revolutionising conventional value chains and designing new business models in Industry 4.0. The disruptive potential of these technologies necessitates the development of digital-first solutions like PLATFORM50 – which brings together NEXT50’s industrial experience and the possibilities of data-driven AI methods to revolutionise the highly dynamic platform economy.”
Naim Yazbeck, General Manager at Microsoft UAE, said, “Regional businesses are actively embracing AI-based solutions and services to transform their operations. The launch of PLATFORM50 is incredibly timely and will support the industrial sector in enhancing operational capabilities by utilising new technologies, accelerating processes, and becoming more adaptable to changes in the future allowing precise AI based decision-making. “
“At Microsoft, we are delighted to be supporting NEXT50 on this important journey leveraging Azure Data & AI Services & Microsoft Commercial Marketplace as an expansion engine for global reach & partnership within the ecosystem,” he added.