Tonomus will invest $1 billion in 2022 alone in AI-driven products
NEOM Tech & Digital Company — the first company to be established as a full-fledged subsidiary of NEOM — launched as ‘Tonomus,’ signalling the next stage in its growth trajectory as a cognitive multinational conglomerate.
Headquartered at NEOM since its 2021 inception as the project’s technology and digital lead, Tonomus is building the cognitive foundation and adopting hyper-disruptive solutions integral to the development of NEOM and its flagship initiatives, including The Line, Oxagon and Trojena.
Tonomus is NEOM’s trusted digitisation partner. It will enable the cognitive city vision via disruptive, sustainable solutions and empowering sectors that include energy, water, education, health, well-being, biotech, food, tourism, media, Financial Services, and mobility. It will also promote data exchange and unify the digital ecosystem.
Tonomus has emerged as a global leader in the smart-to-cognitive transition, developing world-changing technologies and investing $1 billion in 2022 alone in AI-driven products and hyper-connected predictive and proactive solutions.
These include the first-of-its-kind, mixed-reality, digital twin metaverse with human needs at its core and a cutting-edge consent management platform designed to restore trust and place personal data ownership back in the hands of users.
The name change furthermore represents Tonomus’ commitment to realising its vision, which includes attracting world-class tech talent to sustain and extend innovation, making Saudi Arabia a hub for global entrepreneurship and enabling NEOM to act as a global connector for the Kingdom.
Abdullah Alswaha, Minister of Communications & Information Technology and Chairman of Tonomus said, “Tonomus has positioned NEOM as a global innovator of cognitive innovation with its constantly expanding portfolio of AI projects. Its development of human-centric technologies and its collaborative partnerships with leading multinational tech companies.”
Nadhmi Al-Nasr, CEO of NEOM, said, “The launch of Tonomus confirms our progress towards achieving the goals of NEOM and Vision 2030. Tonomus will support our ambitions by contributing to the future of the tech and digital industry, stimulating innovation, and driving the development of the world’s first cognitive community.”
Joseph Bradley, CEO of Tonomus, said, “Technology is constantly evolving, and — as a global disruptor and innovator — Tonomus is on the same forward-thinking and fast-moving trajectory toward the future.”
“Tonomus is also nurturing entrepreneurship both within and beyond the organisation, which will cement NEOM’s reputation as the epicentre of innovation and Saudi Arabia as a place where the world’s brightest minds can bring their ideas to life.”
A new venture incubation studio is central in helping the company turn concept into reality. Beverly Rider — CCO and interim CMO of Tonomus — leads both established and emerging entrepreneurs and VCs and C-suite executives in developing Silicon Valley-modeled ventures.