Home Blog Page 135

Saudia orders 50 Lilium electric flying taxis for $700m

Mohammed Fahad
-
0
Saudia orders 50 Lilium electric flying taxis for $700m
  • Saudi national airline to leverage Lilium’s air shuttles to transport pilgrims between the holy cities of Mecca and Jeddah, as well as to provide transportation to major sporting events and tourist destinations within the kingdom.
  • Electric jets offer an alternative to traditional road trips and short-haul flights, addressing the need for more efficient and environmentally friendly transportation options.

Germany-based developer Lilium has announced its largest order to date, securing a deal with the Saudi Arabian national airline, Saudia Group.

The agreement, valued at an impressive $700 million, outlines Saudia’s firm order for 50 of Lilium’s all-electric flying shuttles, with an option for an additional 50 vehicles in the future.

The deal, signed at Lilium’s headquarters outside Munich, underscores the growing interest and demand for innovative air mobility solutions.

A promising alternative

Lilium’s electric Vertical Take-Off and Landing (eVTOL) Jets, designed to transport four to six passengers, offer a promising alternative to traditional road trips and short-haul flights, addressing the need for more efficient and environmentally friendly transportation options.

Saudia’s decision to invest in Lilium’s cutting-edge technology aligns with the Saudi government’s ambitious “Vision 2030” plan, which aims to diversify the country’s economy and boost air traffic and tourism.

The national airline intends to leverage Lilium’s air shuttles to transport pilgrims between the holy cities of Mecca and Jeddah, as well as to provide transportation to major sporting events and tourist destinations within the kingdom.

Expanding beyond Germany

The partnership represents a significant step forward for Lilium, which has been competing in the crowded eVTOL market. With this landmark deal, the company can now focus on finalising the development of its flying taxi, leveraging the advance payments from Saudia to propel its innovative technology towards commercialisation.

The first manned flight of Lilium’s vertical take-off aircraft is now expected to take place in the beginning of next year, following a brief delay due to supply chain challenges.

Lilium’s co-founder, Daniel Wiegand, expressed his enthusiasm for the partnership, highlighting the potential for the air shuttles to transform transportation within Saudi Arabia.

“The deal not only secures a significant order for Lilium but also underscores the global appeal of its cutting-edge technology, as the company continues to expand its footprint beyond its German roots.”

Saudia’s Chief Marketing Officer, Khaled Tash, said the air shuttles will play a crucial role in realising the kingdom’s ambitious plans to boost air traffic and tourism.

“The delivery of the first 50 aircraft is expected to commence by 2029, marking a significant milestone in the integration of eVTOL technology into commercial air services.”

Samsung to acquire UK-based startup Oxford Semantic

Ana Mary Joseph
-
0
Samsung to acquire UK-based startup Oxford Semantic
  • Smartphone leader seeks to harness power of knowledge graph technology to deliver hyper-personalised AI experiences across its product portfolio.

Samsung Electronics has announced the acquisition of Oxford Semantic Technologies, a UK-based startup specialising in knowledge graph technology.

The strategic acquisition positions Samsung at the forefront of the evolving landscape of personalised AI experiences, as it seeks to harness the power of knowledge graph technology to enhance the user experience across its diverse product portfolio.

Established in 2017 by a team of distinguished professors from the University of Oxford, Oxford Semantic Technologies has emerged as a trailblazer in the field of knowledge representation and semantic reasoning.

The company’s flagship product, RDFox, has garnered widespread acclaim for its ability to effectively process and integrate dynamic real-world data into coherent knowledge graphs.

The innovative technology offers a unique approach to data management, akin to the way humans acquire, store, and reason over knowledge, paving the way for more sophisticated and personalized AI solutions.

Knowledge graph technology is a complex and challenging discipline, owing to the intricate computations involved in converting vast amounts of data into a cohesive and interconnected web of related ideas.

However, Oxford Semantic Technologies has successfully navigated these technical hurdles, developing a robust and commercially viable solution that has captured the attention of organisations across various industries, including finance, manufacturing, and e-commerce.

Samsung’s decision to acquire Oxford Semantic Technologies is a strategic move that aligns with the company’s broader vision of delivering hyper-personalised AI experiences to its global customer base.

By integrating Oxford Semantic Technologies’ cutting-edge knowledge graph technology with Samsung’s expertise in user experience and data processing, the company aims to revolutionise the way consumers interact with and benefit from their devices.

The integration of personal knowledge graph technology with Samsung’s on-device AI capabilities, as exemplified in the upcoming Galaxy S24 series, promises to unlock new frontiers in user personalisation. By continuously learning and adapting to users’ preferences and usage patterns, these personal knowledge graphs will enable a tailored experience that seamlessly anticipates and caters to individual needs, all while ensuring the security of sensitive personal data on the device.

The acquisition extends beyond the realm of mobile devices, as Samsung envisions the application of personal knowledge graph technology across its diverse product portfolio, including televisions and home appliances.

By transforming these devices into intelligent, context-aware companions, Samsung aims to redefine the boundaries of the smart home and enhance the overall user experience.

The collaboration between Samsung and Oxford Semantic Technologies is a testament to the synergies that can arise when industry leaders and cutting-edge startups come together.

Peter Crocker, the CEO of Oxford Semantic Technologies, has expressed his enthusiasm for the partnership, stating that the integration of Samsung’s expertise in user experience and data with the advanced knowledge graph and reasoning technology developed by Oxford Semantic Technologies will result in even more sophisticated personalization for Samsung’s customers.

Plenty to build vertical farms with Mawarid in $680m venture

Ana Mary Joseph
-
0
Plenty to build vertical farms with Mawarid in $680m venture
  • Partnership intends to build five farms over next five years, with the initial investment of approximately $130 million funding the construction of an indoor farm in Abu Dhabi.

US vertical farming startup Plenty is teaming up with UAE’s Mawarid, a subsidiary of Alpha Dhabi Holding, in $680 million joint venture to establish a network of state-of-the-art indoor farms across the Middle East, promising to redefine the region’s agricultural landscape.

The collaborative effort between these two entities is a strategic move to address the pressing challenges of food security and resource scarcity in the region.

By leveraging the expertise and innovative technologies of Plenty, the partnership intends to build five farms over the next five years, with the initial investment of approximately $130 million funding the construction of an indoor farm in Abu Dhabi.

The facility is expected to break ground early next year and could be operational by 2026, marking a significant milestone in the region’s journey towards sustainable food production.

The flagship farm in Abu Dhabi is poised to revolutionise the local strawberry industry, with a projected annual output of over 4.5 million pounds of premium berries. These strawberries will not only cater to the domestic market but also be exported to other Gulf Cooperation Council member countries, showcasing the far-reaching impact of this venture.

The decision to pre-sell the farm’s strawberry production to Driscoll’s, a leading global player in the berry market, further underscores the confidence and strategic planning behind this partnership.

Vertical farming, the core technology driving this initiative, offers a sustainable and efficient alternative to traditional agriculture.

By cultivating crops in controlled indoor environments, vertical farms can maximise productivity while minimising the use of land, water, and other resources. The approach aligns perfectly with the UAE’s vision of enhancing food security and diversifying its agricultural capabilities, particularly in the face of scarce land and water resources.

The financial backing for this joint venture, which includes debt financing from a local bank, represents a significant shift in the funding landscape for the indoor farming industry.

Historically, the capital-intensive nature of these projects has been a significant barrier to scaling production, with the industry relying heavily on venture capital investments.

However, the partnership’s ability to secure debt financing from a regional bank highlights the growing confidence and interest in the potential of vertical farming, particularly in the Middle East.

Arama Kukutai, CEO of Plenty, is optimistic about the venture’s financial prospects, projecting returns of over 20 per cent – significantly higher than traditional agriculture. This ambitious target underscores the transformative power of vertical farming and the confidence in the region’s ability to embrace this innovative solution.

AI revolutionising medical industry more than ever

Ana Mary Joseph
-
0
AI revolutionising medical industry more than ever
  • AI is constantly evolving and making waves in other parts of healthcare.

Artificial Intelligence (AI) has emerged as a transformative force, driving significant advancements in the medical devices industry and contributing to cost reduction and efficiency improvement.

The market for AI in medical devices is forecast to reach a value of $1.2 billion by 2027 and it is expected to drive innovation and bring about positive changes within the industry.

The integration of AI in medical devices has the potential to enhance various aspects of the healthcare ecosystem. Machine learning (ML) can improve manufacturing efficiency and reduce the risk of errors, while also assisting healthcare professionals in diagnosing and detecting abnormalities in medical imaging.

Furthermore, AI can optimise operational costs by tracking wait times and reducing inpatient length of stay in hospitals.

Targeted care

One notable example is the University of Cambridge’s development of an AI model to predict the progression of Alzheimer’s disease. The ML model can accurately predict four out of five cases of Alzheimer’s using cognitive tests and MRI scans, significantly improving patient well-being and aiding healthcare professionals in providing timely and targeted care.

Moreover, a US-based brain-computer interface company, Synchron, has recently announced the integration of generative AI into its brain implant interface system.

The innovation allows people living with disabilities that cause them to be non-verbal to generate text on a screen faster and more easily than before, further demonstrating the transformative potential of AI in the medical devices industry.

As Alexandra Murdoch, Senior Medical Analyst at GlobalData, said:  “The future of AI in medical devices is promising, and continued research and development will only yield more sophisticated AI-driven tools. The potential to transform medical devices and healthcare as a whole is immense, and we are seeing the start of said transformation.”

Mozilla adopts innovative approach to advertising and user data protection

Naushad K. Cherrayil
-
0
Mozilla adopts innovative approach to advertising and user data protection
  • Company is positioning itself as a trailblazer in the quest to redefine relationship between advertisers, browsers  and the individuals
  • PPA feature, introduced in Firefox version 128, is uncompromising on the privacy front, and only provides bare-bone functionality to advertisers
  • CTO  emphasises Mozilla’s desire to “improve privacy for everyone,” not just those who use the Firefox browser.

The debate around user privacy and the needs of the advertising industry has long been a contentious issue.

Mozilla, the company behind the popular Firefox browser, has taken a bold and innovative step towards addressing the challenge.

In a recent interview, Firefox CTO Bobby Holley has rebutted concerns regarding the implementation of the browser’s new “Privacy-preserving attribution” (PPA) feature, which aims to create an industry-wide, privacy-preserving mechanism that balances the interests of both advertisers and users.

Massive web of surveillance

Holley’s candid acknowledgment that Mozilla should have communicated the rationale behind the PPA feature more effectively is a testament to the company’s commitment to transparency and open dialogue.

The CTO explained that the goal is to address the “massive web of surveillance” that has become endemic to the current digital advertising landscape, where advertisers gather extensive personal data, often at the expense of user privacy.

Recognising the limitations of the traditional approach of blocking tracking techniques, Holley emphasises Mozilla’s desire to “improve privacy for everyone,” not just those who use the Firefox browser.

The holistic perspective reflects a deeper understanding of the systemic nature of the problem and the need for industry-wide solutions.

Proactive approach

Holley’s insights into the economic realities of the advertising industry are particularly insightful. He acknowledges that the industry’s enormous financial incentives will drive it to continually evolve and bypass any countermeasures, leading to a perpetual “arms race.”

The realisation has led Mozilla to take a more proactive and collaborative approach, working with industry players like Meta to develop a solution that can meet the needs of both advertisers and users.

The PPA feature, introduced in Firefox version 128, is a result of this collaborative effort. Holley assures that the feature is uncompromising on the privacy front, providing only the bare minimum of functionality to advertisers.

The experimental prototype has undergone rigorous testing and has been “vetted by some of the best cryptographers in the field,” further emphasising Mozilla’s commitment to ensuring the privacy properties of the system.

Holley’s defense of enabling the PPA feature by default, rather than relying on user consent dialogs, is a bold and thought-provoking stance.

He argues that such dialogs can be a “user-hostile distraction from better defaults,” highlighting Mozilla’s belief that privacy should be the default, rather than an opt-in option.

Mozilla: No tracking involved

While some users have expressed concerns about any data being shared with advertisers, even if anonymised, Holley addresses these fears directly.

He assures that the PPA feature involves no tracking and that no individualised data is shared outside of the local machine, only aggregate counts.

Furthermore, Holley said that that no money is changing hands between Mozilla and Meta, and the collaboration is purely at the engineering level, further reinforcing the company’s commitment to user privacy.

Mozilla’s approach, as outlined by Holley, represents a significant shift in the industry’s approach to digital advertising and user data protection.

By collaborating with major industry players and developing innovative, privacy-preserving mechanisms, the company is paving the way for a future where the interests of advertisers and users can be harmonized, and the “surveillance parts” of the current system can be significantly reduced.

Disparity in cyber protection between head office and branches raises concerns

TCN Bureau
-
0
Disparity in cyber protection between head office and branches raises concerns
  • One of the underlying reasons for disparity appears to be a lack of trust in local expertise< Kaspersky study shows.

A Kaspersky study highlights a concerning disparity in the levels of cyber protection across geographically distributed businesses in Saudi Arabia.

According to the report, while 52 per cent of respondents were confident that their headquarters (HQ) enjoyed effective protection from cyber threats, the remaining 48 per cent acknowledged a lack of parity in cybersecurity measures between the HQ and local offices.

Worryingly, 30 per cent of these companies recognised the problem but did not consider it critical, while 18 per cent admitted that only a few of their branches were adequately protected.

A significant risk

“Although the most sensitive data may be held centrally, access to the company’s assets is clearly required from several locations, and when they are not as well protected as head office, it creates security risks for the whole organisation. Perhaps, there is a misconception that a lower level of protection will suffice for sites that play a secondary role in the company’s structure,” Anton Solovey, Senior Product Manager (XDR) at Kaspersky, said.

However, he said that cybercriminals don’t care which place gets attacked – be it head office or its branches – they can penetrate the company’s infrastructure from any location. Therefore, it’s important to enable protection that is equally effective at all sites.

The disparity in cybersecurity poses a significant risk to the entire organisation, as cybercriminals can exploit vulnerabilities in any location to infiltrate the company’s infrastructure.

One of the underlying reasons for this disparity appears to be a lack of trust in local expertise. In 54 per cent of cases, the HQ took full responsibility for cybersecurity activities in the branches, citing insufficient knowledge and qualifications among local staff.

Even in 40 per cent of instances where cybersecurity tasks were shared between the HQ and local teams, the HQ maintained oversight and control.

1...134135136...272Page 135 of 272