Adani Group allies with UAE’s IHC, forms AI joint venture
The Adani Group, helmed by Gautam Adani, has solidified a significant joint venture with a unit of the UAE’s International Holding Co. (IHC). This collaborative effort has resulted in the establishment of Sirius Digitech International Ltd. (a subsidiary of Abu Dhabi’s International Holding Company), including artificial intelligence (AI), the Internet of Things (IoT), and blockchain, as per regulatory filings.
Adani Global Ltd. and IHC’s Sirius have formalized their collaboration through the creation of Sirius Digitech International Ltd., a joint venture where Adani holds a 49% stake, and Sirius International Holding commands a 51% majority. The joint venture is not limiting itself to the conventional domains of AI and blockchain. In addition to these, the collaboration intends to explore the vast potential of the Internet of Things (IoT).
“Inexpensive sensorisation and the power of artificial intelligence are opening up new ways to drive extreme levels of efficiency, ensure real-time decision making, and rapidly deploy transformative business models. The power of compute and the ability to deliver green energy to data centers creates a unique combination of strengths that we bring to this partnership with Sirius International Holding which has a portfolio of the most exciting digital companies relevant in today’s era,” a spokesperson for Adani Enterprises commented on the matter.
Adani Enterprises Ltd., the parent Adani company which gives birth to and incubates several new ventures for the Gautam Adani led group, is known for its aggressive capital raising and expansion strategy. The same extends to tech as well, having established data Centers within less than a decade of existence. The company also has media, internet and cloud computing ventures, all of which could see increased alignment with the new AI venture.
The primary strategic objective of this collaboration is to capitalize on India’s digitization opportunity, estimated to be a substantial $175Bn market. The joint venture aspires to contribute significantly to key sectors such as fintech, healthtech, and greentech. This aligns with India’s overarching vision of digital transformation and economic growth. Beyond technological exploration, Sirius Digitech International Ltd. positions itself as a significant contributor to India’s evolving digital economy. The joint venture, with its focus on leveraging digital transformation expertise, aligns with India’s vision of achieving a $1 trillion digital market by 2030. This places the collaboration in a pivotal role in shaping the nation’s technological landscape.
Sirius Digitech International Ltd. has ambitious plans to deploy AI, IoT, and secured blockchain products for practical industrial applications. “We believe that Sirius’s expertise and Adani’s dynamic approach will be instrumental in empowering businesses to thrive in the digital era with advanced technologies that optimise industries, streamline processes and foster growth,” said a spokesperson at Sirius International Holding.
