SDAIA Signs MoC with Japanese Company NEC to Develop AI Solutions

SPA
SPA
TT

SDAIA Signs MoC with Japanese Company NEC to Develop AI Solutions

SPA
SPA

The Saudi Data and Artificial Intelligence Authority "SDAIA" signed a Memorandum of Cooperation (MoC) in the fields of artificial intelligence (AI), biometrics, and "Internet of Things" with the Japanese company NEC, during the Saudi-Japanese round table meeting, organized by the Ministry of Investment in Jeddah, in the presence of the Japanese Prime Minister Fumio Kishida during his visit to the Kingdom Sunday.

Deputy Director of the National Information Center in SDAIA Mashari bin Ibrahim Al-Mashari represented “SDAIA” in the signing of the MoC, and the Senior Vice President of the company NEC, Naoki Yoshida, on behalf of it, SPA reported.

The MoC aims to discuss opportunities of mutual interest between the two sides and support innovation and innovative solutions for a number of applications such as; smart and safe cities, health applications, and logistics applications.

The memorandum will strengthen the " SDAIA " efforts in efficiently experimenting with technical solutions, leading the national trend for data and artificial intelligence, and achieving Saudi Vision 2030 to promote the Kingdom to data-based economies and enabling initiatives related to data and artificial intelligence.



Getty Images and Shutterstock to Merge, Forming $3.7 billion Stock Image Giant

Craig Peters, CEO of Getty Images, speaks during an interview on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2022. REUTERS/Brendan McDermid/File Photo
Craig Peters, CEO of Getty Images, speaks during an interview on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2022. REUTERS/Brendan McDermid/File Photo
TT

Getty Images and Shutterstock to Merge, Forming $3.7 billion Stock Image Giant

Craig Peters, CEO of Getty Images, speaks during an interview on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2022. REUTERS/Brendan McDermid/File Photo
Craig Peters, CEO of Getty Images, speaks during an interview on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2022. REUTERS/Brendan McDermid/File Photo

Getty Images said on Tuesday it will merge with rival Shutterstock to create a $3.7 billion stock image powerhouse in a deal that would help the companies navigate the AI era, but likely attract antitrust scrutiny.

Shutterstock's shares were up 9.9% in premarket trading, while shares of Getty Images were up 18.7%, according to Reuters.

The combined company will be named Getty Images Holdings Inc and will continue to trade on the New York Stock Exchange under the ticker symbol "GETY".

At close, Getty Images' CEO, Craig Peters, will serve as CEO of the combined company.

Getty competes with Reuters and the Associated Press in providing photos and videos for editorial use.