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2019-11-19

UBTech Robotics inks $362m AI deal in UAE

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Chinese artificial intelligence unicorn UBTech Robotics has inked a deal worth $362.4 million to step up AI teaching labs for students in the United Arab Emirates, marking another big push in its efforts to go global.

The company, backed by internet giant Tencent Holdings, inked the deal with Royal Strategic Partners, a unit of Abu Dhabi Capital Group. ADCG is a large-scale investment company which manages assets of $20 billion.

In what it hailed as the world's biggest deal in the AI education field, UBTech said it will build AI teaching labs for 1,310 primary and secondary schools in the seven emirates of the UAE over the next four years.

The Shenzhen-based company said in the future, it will work together with the UAE to further promote the localization and development of AI education solutions. The related courses in primary and secondary schools and universities will provide a steady stream of fresh blood for the AI industry.

UBTech has already established a complete AI curriculum system, covering primary, junior and high schools as well as colleges. It recently reached a strategic cooperation with the UNESCO Higher Education Innovation Center. It will step up efforts to tap into overseas opportunities and explore how to better offer localized products and services in each market.

As the UAE attaches high importance to technological development, a string of Chinese companies have partnered with local government agencies and enterprises for cooperation. Chinese ride-hailing platform Didi Chuxing has inked a cooperation agreement with Abu Dhabi Capital Group.

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