Saudi NEOM’s Tech Unit Rebrands, Invests $1 Billion In 2022 – CEO

(CTN News) _ NEOM Tech & Digital, a subsidiary of the $500 billion NEOM project of the Saudi crown prince, has committed $1 billion to AI in 2022, including a metaverse platform, its chief executive said on Tuesday.

While NEOM works to integrate AI technology into its flagship project The Line, which spans more than 170 kilometers (150 miles) and uses 100% renewable energy, Joseph Bradley said the company will also change its name to Tonomus.

The Line is a zero-carbon city with robots, holograms, and mirrored facades.

Although some observers are skeptical, is Crown Prince Mohammed bin Salman’s most ambitious project yet.

In Vision 2030, Prince Mohammed has poured hundreds of billions of dollars into transforming the Saudi economy, creating jobs, and reducing its oil dependence.

In 2022 alone, Tomonus invested $1 billion in the metaverse and other AI applications, another billion in the connectivity network, and $1.2 billion in venture and entrepreneurship.

Oracle and OneWeb are working with Tonomus

NEOM is really becoming the innovation engine for the GCC, he told Reuters.

Virtual-reality platforms are helping cities like Seoul and Singapore cut traffic and carbon emissions by providing government services through virtual desks where avatars provide help.

By subscribing to NEOM’s metaverse platform, people from around the world can virtually visit before investing in the city.

Using digital twin technology, he said, The Line is being built and constructed, and in the future, it’ll help its residents.

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