February 23, 2024
PRESS RELEASES

PRESIGHT AND SAMRUK KAZYNA JSC ANNOUNCE JOINT VENTURE

Presight AI Holding PLC (ADX: PRESIGHT), the region’s leading big data analytics company powered by generative AI, and the Kazakh Sovereign Wealth Fund Samruk-Kazyna, today announced a joint venture on the sidelines of COP28, in the presence of the President of Kazakhstan, H.E. Kasym Zhomart Tokayev, to establish a company to accelerate digital transformation in Kazakhstan, through deployment of Presight’s solutions and technologies.

At a meeting between business leaders of the UAE, the President of Kazakhstan H.E. Kasym Zhomart Tokayev, discussed the first projects of the joint venture with Thomas Pramotedham, CEO of Presight, concerning two leading Kazakhstan entities, QazaqGaz, the Kazakh national gas operator, and railway operator KTZ Express, which will deploy AI and information technology to enhance efficiency and modernize processes in these key sectors.

The joint venture agreement was signed by Thomas Pramotedham, CEO of Presight, and Nurlan Zhakupov, CEO of Samruk-Kazyna.

Under this agreement, Presight and Samruk Kazyna will establish a company in Kazakhstan to utilize Presight’s big data analytics solutions in key sectors and industries, including energy, public services and transport, to support digital transformation. The two companies will also explore the development of high performance computing (HPC) capacity in Kazakhstan, and explore the potential to develop enterprise AI solutions, including sovereign GPT and Kazakh large-language model (LLM).

The joint venture will also develop smart monitoring of equipment, labor protection and industrial safety solutions for Alatau Zharyk Company, an electricity grid operator in Kazakhstan, as well as big data processing and subsequent product monetization solutions for Kazpost, a national postal service.

The joint venture marks a pivotal moment in the realms of technology and economic growth, as it unites the expertise of Presight and the strategic vision of Samruk Kazyna in an unprecedented collaboration. The partnership not only promises enhanced efficiency and productivity for businesses that will translate into improved commercial results but also underscores the joint commitment to bolstering the nation’s technological landscape.

Thomas Pramotedham, CEO of Presight said, “Establishing this joint venture is a testament to Samruk Kazyna’s commitment to lead digital transformation and Kazakhstan’s vision in leading the adoption of AI and technologies across key national sectors. 

Presight is privileged to be given this opportunity to share its expertise in advanced ICT and transformative potential of AI-driven data analytics for key national industries and sectors. We will focus on building capacity together, so that we can advance Kazakhstan’s position on the global stage, fostering economic prosperity, and creating a sustainable future for generations to come.”

Nurlan Zhakupov CEO of  Samruk-Kazyna JSC group said: “As we embark on a new level of technological advancements for our portfolio companies and explore new horizons in high-computer processing capacity and latest AI solutions, we are setting a precedent that will position Kazakhstan as a hub of innovation and digital transformation, driving economic growth and ensuring our country’s continued success.”

Pilot projects for digital transformation of Kazakhstan

As part of the joint venture collaboration, Presight signed a cooperation agreement with QazaqGaz to explore opportunities in implementing latest technologies in the management of gas balance in Kazakhstan.

Under this agreement, Presight will run a comprehensive analysis of the existing systems at QazaqGaz and set the stage for full-fledged project implementation that will include a pilot at selected gas facilities and an introduction of new billing system for the company. Upon successful completion of the pilot, the project is set to expand across the entire country.

The agreement was signed by Thomas Pramotedham and the CEO of QazaqGaz, Sanzhar Zharkeshov.

Sanzhar Zharkeshov, CEO of QazaqGaz, said: “This collaboration is a testament to our shared commitment to advancing Kazakhstan’s energy infrastructure, reducing environmental impact, and fostering local talent in the fields of data analytics and digital transformation. The goal of this initiative is not only to strengthen QazaqGaz’s position in the national, regional, or even global energy market, but also contribute to the long-term prosperity and energy security of Kazakhstan and its citizens.”

A further cooperation agreement was signed by Thomas Pramotedham, and Damir Kozhakhmetov, CEO of KTZ Express, a Kazakh railway operator, to explore opportunities in bringing in digital solutions to the operations of the company.

Under this agreement, Presight will conduct an in depth analysis of the existing information systems at KZT Express in preparation for a full-fledged project implementation that will include solutions for management of railway routes, interactive control over train movement, deployment of digital solutions in commercial activities, as well as an integrated system for detailed financial and management accounting.

Damir Kozhahmetov, Acting CEO of KTZ Express, said: “This cooperation aligns with the national goal of establishing Kazakhstan as a regional transportation hub, contributing to its economic development and strengthening its global standing. By working with Presight we aim to not only enhance competitiveness of our company in the logistics market but also contribute to the prosperity and connectivity of Kazakhstan and its role in international trade.”

Last Updated on 3 months by Middle East News 247

    Middle East News 247

    Middle East News 247

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