Home Industry Adani Establishes Joint Venture with IHC-Backed Sirius for Development of AI, Blockchain, & IoT Products

Adani Establishes Joint Venture with IHC-Backed Sirius for Development of AI, Blockchain, & IoT Products

by CIOAXIS Bureau

Adani Enterprises has entered into an agreement with Sirius International Holding Limited (Sirius), a subsidiary of International Holding Company (IHC), UAE, to establish a joint venture named Sirius Digitech International Limited, based in Abu Dhabi. The joint venture will be owned 51% by Sirius and 49% by Adani.

The collaboration, named Sirius JV, aims to leverage Sirius’s global digital transformation expertise and Adani’s strategic insights to tap into the USD 175 billion digitalization opportunity in the Indian economy. The digitalization market is projected to grow to a USD 1 trillion opportunity by 2030.

The joint venture, Sirius Digitech International Limited, plans to deploy an integrated ecosystem of digital platforms utilizing artificial intelligence (AI), Internet of Things (IoT), and secured blockchain products. The focus will extend across infrastructure industries, encompassing areas such as FinTech, HealthTech, and GreenTech.

Adani Enterprises emphasized the transformative potential of inexpensive sensorization and AI, highlighting their ability to drive efficiency, support real-time decision-making, and facilitate the deployment of innovative business models. The collaboration aims to leverage the power of computing and the capability to deliver green energy to data centers, creating a unique combination of strengths.

Sirius International Holding expressed enthusiasm about the transformative journey with Adani Enterprises, emphasizing their commitment to addressing challenges and unlocking opportunities in the rapidly evolving digital landscape. The partnership aims to empower businesses to thrive in the digital era through advanced technologies that optimize industries, streamline processes, and foster growth.

The joint venture, Sirius JV, plans to initiate the deployment of cutting-edge AI and enterprise blockchain products and services for industrial applications. It will leverage Adani Group’s extensive industrial testbed to validate and scale its solutions. The integration of industrial digital solutions into operations is expected to unlock high levels of efficiency, productivity, and innovation, leading to the reinvention of business models in various industries.

The shares of Adani Enterprises showed a slight decline at Rs 2,843.15, down by 0.0070% during the reporting period.

The collaboration reflects the ongoing efforts of companies to harness digital technologies and drive digital transformation across various sectors. The joint venture positions itself to play a significant role in India’s evolving digital landscape, contributing to the growth and innovation of industries through advanced technologies and strategic insights.

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