G42 invests in edge computing and AI start-up Analog during Davos launch
G42, the Abu Dhabi-based artificial intelligence and cloud computing company, announced an undisclosed investment in a new edge computing and AI company launched at Davos during the World Economic Forum on Thursday.
Analog, the Abu Dhabi-based start-up, aims to develop AI-powered solutions in edge computing that will enhance the speed and operating efficiency of people and businesses alike.
“Analog is born out of the ambition to mix human needs with the potential of AI … creating experiences to simplify and enhance everyday life,” Alex Kipman, founder and chief executive of Analog, told The National. “It will be at the forefront of innovation, crafting technology that amplifies rather than replaces human skills.”
Analog was launched at AI House Davos, a multi-stakeholder platform for responsible AI progress of which G42 is the initiating partner.
Analog said it will harness the capabilities of edge computing to create a smooth and interconnected relationship among people, locations and objects, and boost speed while minimising latency.
The company said it will deliver custom solutions to tackle challenging global issues for business, public sector companies and the health care and environment sectors.
The AI market is projected to reach $305.9 billion next year, according to Statista. It is expected to show an annual growth rate of 15.83 per cent, resulting in a market volume of $738.8 billion by 2030.
Edge computing is an emerging paradigm that refers to a range of networks and devices at or near the user. Edge is about processing data closer to where it is being generated, enabling processing at greater speeds and volumes, leading to greater action-led results in real time, according to consultancy Accenture.
“In traditional AI companies, intelligence comes from historical data that is pre-trained and digitally stored … while in edge computing, intelligence emerges from live, real time sensors’ data,” Mr Kipman said.
“So, this world of AI is very focused on understanding the complexities of real world in real time, understanding people, understanding places and understanding things
“We will be harnessing data coming from millions of sensors to help businesses grow their bottom line while devising solutions that are human-centric in approach.”
Analog’s ability to capture and use data from the real world is the company’s unique selling proposition, Mr Kipman said. “A lot of sensors exist in the world today but there are not a lot of systems or solutions that give you insights from top of those sensors. Clearly, there is an unmet need, and we are going to plug this gap.”
Without disclosing other investors, Mr Kipman said G42 was the biggest investor in the start-up. “Analog represents the latest addition in G42’s portfolio of AI-powered businesses … and it’s the piece of the portfolio focused on edge computing AI,” he said.
Mr Kipman, who aims to make Analog profitable soon, said he was not planning to raise more funds.
“We have enough funds to start and show real progress in the region. That’s the focus rather than raising more money. We are a Made-in-the-UAE company and, initially, we want to focus on this market only as we see massive potential here … gradually, we will decide on expanding to new markets,” he said.
Analog will be at the forefront of innovation, crafting technology that amplifies rather than replaces human skills
ALEX KIPMAN
Analog’s founder and chief executive