{"id":1659549,"date":"2022-09-27T07:05:44","date_gmt":"2022-09-27T11:05:44","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1659549"},"modified":"2022-09-27T07:06:18","modified_gmt":"2022-09-27T11:06:18","slug":"saudi-neoms-tech-unit-rebrands-invests-1-billion-in-2022-ceo","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/saudi-neoms-tech-unit-rebrands-invests-1-billion-in-2022-ceo\/","title":{"rendered":"Saudi NEOM\u2019s tech unit rebrands, invests $1 billion in 2022 -CEO"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fsaudi-neoms-tech-unit-rebrands-invests-1-billion-in-2022-ceo%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1659549&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Aziz El Yaakoubi<\/p>\n<p>RIYADH (Reuters) \u2013     NEOM Tech &#038; Digital, a subsidiary of the $500 billion signature NEOM project of the Saudi crown prince, has invested $1 billion in 2022 in AI, including a metaverse platform, its chief executive said on Tuesday.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>Joseph Bradley said the company is also changing its name to Tonomus as NEOM works to integrate AI techs in the building of its flagship project The Line, a zero-carbon city with robots, holograms and mirrored facades stretching over 170 kilometres (150 miles) and running on 100% renewable energy. <\/p>\n<p>NEOM is Crown Prince Mohammed bin Salman\u2019s most ambitious project yet, although it has also met with scepticism from some observers. <\/p>\n<p>It is part of the kingdom\u2019s Vision 2030 national development plan into which Prince Mohammed has poured hundreds of billions of dollars, with the aim of  transforming the Saudi economy, creating jobs for citizens, and reducing its dependence on oil. <\/p>\n<p>Bradley said Tomonus has invested $1 billion in 2022 alone in the metaverse and other AI applications, another billion in the connectivity network and is investing an additional $1.2 billion in venture and entrepreneurship. Tonomus is working with Oracle and OneWeb. <\/p>\n<p>\u201cNEOM is really becoming, in my opinion, the innovation engine for the GCC,\u201d he said in an interview with Reuters. <\/p>\n<p>Modern cities, including Seoul and Singapore, have turned to virtual-reality platforms to provide government services through virtual desks where avatars provide assistance as they moved to cut urban traffic and carbon emissions. <\/p>\n<p>Subscriptions to NEOM\u2019s metaverse platform will help people from around the world to virtually visit before physically investing in the city, Bradley said. Digital Twin technology is helping build and construct The Line, he said, adding that in the future, it\u2019s also going to be used to improve the experience of its residents.<\/p>\n<p>\u201cSo you own an apartment in NEOM\u2026 and you decide that you are going to open up, you\u2019re gonna have a party\u2026 you can also decide to have folks come in virtually, holographically.\u201d <\/p>\n<p>Wealthy Gulf countries have all launched initiatives to boost non-oil growth and reduce dependence on crude as climate change campaigners and volatility in oil prices have put pressure on government finances.<\/p>\n<p>NEOM may face tough competition from Dubai, the Middle East\u2019s business and tourism hub, which has also announced a metaverse plan to create 40,000 new jobs in the sector by 2030. It is already hosting several blockchain and AI-focused ventures. <\/p>\n<p>\u201cI don\u2019t see us as having to catch up with anyone,\u201d Bradley said. \u201cThis is a fundamental shift in the game. You\u2019re not playing basketball anymore, you\u2019re playing a completely different game.\u201d<\/p>\n<p> (Reporting by Aziz El Yaakoubi, Editing by Louise Heavens)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/saudi-neoms-tech-unit\/attachment\/file-photo-saudi-crown-prince-mohammed-bin-salman-announces-a\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/tagreuters.com2022binary_LYNXMPEI8Q0E6-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI8Q0E6-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Aziz El Yaakoubi RIYADH (Reuters) \u2013 NEOM Tech &#038; Digital, a subsidiary of the $500 billion signature NEOM project of the Saudi crown prince, has invested $1 billion in<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1659549","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1659549","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1659549"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1659549\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1659549"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1659549"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1659549"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}