Presight, a Big Data Analytics and AI player based in the UAE, has partnered with Singapore’s TOTM Technologies Limited, a company specializing in biometrics and Digital ID solutions listed on the SGX, to deliver Digital Identity Management and Biometrics AI solutions to their customers in the MENACA region.
The official sealing of this promising joint venture took place during the Gitex 2023 event on 18 October 2023 and featured the presence of:
- H.E. Kamal R. Vaswani (right), Singapore’s Ambassador to the UAE, alongside the CEOs of the collaborating firms
- Thomas Pramotedham (centre) representing Presight and
- Pierre Prunier (left) from the TOTM Technologies Limited
About Presight AI
Presight AI Holding PLC operates as a data analytics firm. Its activities include innovation and artificial intelligence research and consultancies and providing other information technology and computer services. The company was founded on December 12, 2022 and is headquartered in Abu Dhabi, United Arab Emirates.
On top of that, Presight AI, a direct subsidiary of G42, has successfully launched its successful IPO in ADX on March 2023 and boasts of a big market capitalization of $13.741 Billion AED (~$5.14 Billion SGD).
For some context, the G42 group is a prominent company chaired by the National Security Advisor of UAE, Tahnoun bin Zayed Al Nahyan, who is also its controlling shareholder. Peng Xiao is the Group CEO. In 2020, state-owned Mubadala took a stake in the company, transferring ownership of two information technology companies, Injazat and Khazna to G42.
The company combines big data analytics powered by AI with human expertise to solve real-world challenges in every sector and at any scale, creating tangible benefits for business and society. Presight’s omni-analytics platform ‘TAQ’ leverages all-source data to support insight-driven decision-making.
With a unique blend of big data mastery, analytical finesse, and AI capabilities, Presight caters to businesses of all sizes, across various sectors, with a primary focus on fostering positive societal and economic impacts.
The backbone of Presight’s operations lies in its state-of-the-art computer vision, AI, and comprehensive analytics platform. This sophisticated engine equips Presight to excel in the nuanced task of interpreting data from diverse sources.
The result is a wealth of insights that drive decision-making, impacting policy formulation and contributing to the creation of safer, healthier, happier, and more sustainable societies.
According to the press release, TOTM Group’s solutions have been applied to leading public and private projects across North America, Europe, Middle East, Asia Pacific, Latin America and Africa by leveraging on its strong execution experience and the robust technology platforms from strategic technology partners. TOTM Technologies also manages and maintains one of the largest biometrics National ID databases in the world with approximately 200 million enrolled citizens.
TOTM provides end-to-end identity management and biometrics products, powering Digital identity and Digital onboarding solutions. It includes NIST-rated core biometrics matching software proven in ultra-large-scale identity deployments.
TOTM’s IDora family of products offers proven, secure, positive proof of identity for National ID systems, Border Clearance, Digital Identity for onboarding and KYC, and Access to both your physical and cloud assets and many more.
Now, let’s delve into the details of this exciting partnership:
At its core, the JV establishes a brand-new entity set to leverage Presight’s expertise in Big Data AI and Data Analytics to facilitate the widespread deployment of TOTM Technologies’ suite of Digital Identity products and solutions, available on-demand and via cloud services.
These solutions are poised to empower governments and businesses with data-driven approaches that promise to redefine the landscape of mission-critical infrastructure, all centered around the concept of biometrics-driven Digital Identity.
However, the real game-changer here lies in what this collaboration signifies for governments looking to delve into digital identity programs.
It offers them a unique avenue—a public-private approach—that transforms national digital identity initiatives from financial drains into revenue generators at the national level. This, in essence, promises substantial financial benefits through the prism of digital transformation.
What makes this partnership even more intriguing is its commitment to providing open-standards and readily accessible technologies. The aim is to minimize the hassles of vendor lock-in, reduce maintenance costs, and facilitate interoperability. Essentially, it’s about establishing a foundation that can withstand the test of time, serving as the bedrock for future-proof national digital transformations, with a special focus on the vibrant markets of the Middle East, Africa, and Southeast Asia.
The story doesn’t end there; this partnership has some rather ambitious goals in the realm of digital transformation. It aspires to turn traditional industries on their heads by introducing hardware-less e-KYC authentication and crafting novel digital frameworks.
On this partnership, Thomas Pramotedham, CEO of Presight said (summarized in my own words):
“We are excited to partner with TOTM to develop, integrate and deploy biometric AI solutions in the public safety, healthcare and fintech sectors in the Middle East, Africa and South-East Asia regions. Together, this partnership is uniquely positioned to deliver long-term and sustainable value with our combined technologies. TOTM has a deep appreciation for our value proposition and adds strong execution experience and robust technology platforms for identity management and biometrics.”
Pierre Prunier, CEO & Executive Director of TOTM is also upbeat and commented (summarized in my own words):
‘’We are immensely proud to be announcing this joint venture with Presight, which is a significant milestone in TOTM’s journey.
The technologies that we are seeking to develop jointly with Presight will be based on modular architecture that allows for easy integration between government ministries, is cloud-native and API-driven. With this approach, initial implementation can be done relatively quickly and cost-effectively, laying the foundation for a robust ecosystem of e-citizen services and digital enterprise solutions.”
If you’re intrigued and want to learn more about the Biometric AI and digital identity solutions, you can visit https://presight.ai/totm-solution/.