NEOM Tech and Digital Company Steps into the Future as ‘Tonomus’

NEOM Tech & Digital Company – the first company to be established as a full-fledged subsidiary of NEOM – on Tuesday launched as “Tonomus,” signaling the next stage in its growth trajectory as a cognitive multinational conglomerate.

Headquartered at NEOM since its 2021 inception as the pioneering project’s technology and digital lead, Tonomus is building the cognitive foundation and adopting hyper-disruptive solutions integral to the development of NEOM and its flagship initiatives, including THE LINE, OXAGON and TROJENA.

The rebranding represents a sharpened focus on the role of Tonomus as a cognitive multinational company, with this new phase essential to enabling NEOM to fuel Saudi Arabia’s economic growth and diversification.

The name change furthermore represents Tonomus’ commitment to realizing its vision, which includes attracting world-class tech talent to sustain and extend innovation, making Saudi Arabia a hub for global entrepreneurship and enabling NEOM to act as a global connector for the Kingdom.

Eng. Abdullah Alswaha, Minister of Communications and Information Technology and Chairman of Tonomus, said: “Tonomus has positioned NEOM as a global innovator of cognitive innovation with its constantly expanding portfolio of AI projects, its development of human-centric technologies and its collaborative partnerships with leading multinational tech companies.”

“Tonomus is strengthening economic growth and igniting diversification and innovation within Saudi Arabia with its cutting-edge technologies and solutions. It is creating multiple investment opportunities for local and international companies and has become a strong bridge connecting the Kingdom, the Middle east and North Africa and the world,” he added.

Nadhmi Al-Nasr, CEO of NEOM, said: “The launch of Tonomus confirms our progress towards achieving the goals of NEOM and Vision 2030. Tonomus will support our ambitions by contributing to the future of the tech and digital industry, stimulating innovation, and driving the development of the world’s first cognitive community.”

“This will be realized by involving the most talented and brightest minds to develop the integrated system that will be utilized across all of NEOM’s businesses, sectors and projects.”

Joseph Bradley, CEO of Tonomus, said: “Technology is constantly evolving, and – as a global disruptor and innovator – Tonomus is on the same forward-thinking and fast-moving trajectory toward the future.”

“With a new identity, renewed sense of purpose and focus on true inclusivity, Tonomus will be a synonym for cognitive tech and proactive, predictive solutions that fundamentally reimagine human experiences and the way we live,” he remarked.

“Tonomus is also nurturing entrepreneurship both within and beyond the organization, which will cement NEOM’s reputation as the epicenter of innovation, and Saudi Arabia as a place where the world’s brightest minds can bring their ideas to life.”

A new venture incubation studio plays a central role in helping the company turn concept into reality. Beverly Rider – CCO and interim CMO of Tonomus – leads both established and emerging entrepreneurs, as well as VCs and C-suite executives in developing Silicon Valley-modeled ventures.

In this context, Tonomus is NEOM’s trusted digitization partner, enabling the cognitive city vision via disruptive, sustainable solutions and empowering sectors that include Energy; Water; Education; Health, Well-being and Biotech; Food; Tourism; Media; Financial Services; and Mobility, as well as promoting data exchange and unifying the digital ecosystem.

The Tonomus leadership team includes Su Le, Chief Digital and Strategy Officer, whose contribution is vital to the company’s global aspirations, as well as the provision of professional services and signature experiences for the residents and businesses that make NEOM their home.

Tonomus has emerged as a global leader in the smart-to-cognitive transition, developing world-changing technologies and investing USD 1 billion in 2022 alone in AI-driven products and hyperconnected, predictive and proactive solutions. These include the first-of-its-kind, mixed-reality, digital twin metaverse with human needs at its core, and a cutting-edge consent management platform designed to restore trust and place personal data ownership back in the hands of users.

The rebrand represents the next step in the company’s ascent, which is rooted in co-inventing a robust cognitive foundation with global partners. A key element of this strategic pillar is the USD 200 million (SAR 750m) joint venture with Low Earth Orbit (LEO) satellite operator OneWeb, aimed at providing rapid and reliable connectivity and enabling NEOM’s groundbreaking ecosystem of cognitive technologies.

In addition to deploying 300km of fiber, 200 5G cell sites and a Telco Park, Tonomus’ Cognitive Connectivity Hub strategy comprises the establishment of ZeroPoint DC, NEOM’s half-billion-dollar, next-generation hyperscale data center, and a partnership with Oracle, the world's largest database management company.

Syria has carried out its first international bank transaction via the SWIFT system since the outbreak of its 14-year civil war, its central bank governor said on Thursday, a milestone in Syria's push to reintegrate into the global financial system.

Central bank governor Abdelkader Husriyeh told Reuters in Damascus that a direct commercial transaction had been carried out from a Syrian to an Italian bank on Sunday, and that transactions with US banks could begin within weeks.

"The door is now open to more such transactions," he said.

Syrian banks were largely cut off from the world during the civil war after a crackdown by Bashar al-Assad on anti-government protests in 2011 led Western states to impose sanctions, including on Syria's central bank. Assad was ousted as president in a lightning offensive by opposition factions last year and Syria has since taken steps to re-establish international ties, culminating in a May meeting between interim President Ahmed al-Sharaa and US President Donald Trump in Riyadh. The US then significantly eased its sanctions and some in Congress are pushing for them to be totally repealed. Europe has announced the end of its economic sanctions regime.

Syria needs to make transfers with Western financial institutions in order to bring in huge sums for reconstruction and to kickstart a war-ravaged economy that has left nine out of 10 people poor, according to the United Nations.

Husriyeh chaired a high-level virtual meeting on Wednesday bringing together Syrian banks, several US banks and US officials, including Washington's Syria envoy Thomas Barrack.

The aim of the meeting was to accelerate the reconnection of Syria's banking system to the global financial system and Husriyeh extended a formal invitation to US banks to re-establish correspondent banking ties.

"We have two clear targets: have US banks set up representative offices in Syria and have transactions resume between Syrian and American banks. I think the latter can happen in a matter of weeks," Husriyeh told Reuters.

Among the banks invited to Wednesday's conference were JP Morgan, Morgan Stanley and Citibank, though it was not immediately clear who attended.

NEOM Tech and Digital Company Steps into the Future as ‘Tonomus’