Italy’s Synapsia has inked a $2.5 billion contract with Bold Technologies of the UAE to provide cutting-edge AI-powered city management services in Abu Dhabi. This transformative project, revealed by Synapsia CEO Daniele Marinelli in an exclusive interview with Reuters, promises to elevate the concept of smart cities to new cognitive heights.
The ambitious “cognitive city project” will deploy advanced AI technologies to tackle urban challenges such as transportation, parking, and emergency disaster response. According to Marinelli, this initiative marks an evolution in smart city technology, leveraging AI to create self-learning urban networks that optimize infrastructure and energy use in real time.
The partnership between Synapsia and Bold Technologies not only represents a significant financial investment but also a strategic commitment to innovation. The deal, signed on March 3, outlines a staggered payment structure with Bold Technologies set to pay $2.5 billion in five instalments over 18 months, contingent upon reaching certain milestones.
This collaboration is part of a broader effort by Italy, under Prime Minister Giorgia Meloni, to strengthen economic ties with Gulf countries. Despite political opposition raising concerns over human rights, Meloni announced a significant pledge from the UAE to invest $40 billion in Italy, underscoring the economic synergies between the two nations.
Synapsia and Bold Technologies also plan to establish a new entity, My Aion Inc., with the aim of launching an initial public offering on the Abu Dhabi stock exchange between 2027 and 2029. This move not only demonstrates confidence in the project’s long-term viability but also reflects Abu Dhabi’s growing ambition to lead in the global AI arena.
The UAE, a considerable player in the oil market, is actively pursuing leadership in AI amid regional competition from Qatar and Saudi Arabia. This strategic focus on technology aligns with the UAE’s vision to diversify its economy and enhance its role on the global stage.
The Synapsia-Bold Technologies partnership heralds a new era of urban innovation. By integrating AI into city management, Abu Dhabi is poised to become a model for futuristic urban living, blending efficiency with intelligence.
