JSE-listed technology focused holding group, 4Sight, says it has signed an MoU with Mr Sun Mao Jin from Shenzhen Rongmei Science and Technology Co Limited, or RM, to establish a 50:50 joint venture in China.
4Sight Holdings, listed on the JSE’s AltX board, operates in telecommunications, media and property services industries, and utilises big data, machine learning, AI, blockchain technology and data science capabilities.
The group operates in 25 countries worldwide with 84% of its business and revenue earned from the EMEA (Europe, Middle East and Africa) region, 15% from the America’s (mostly Latin America) and only 1% from the Asia Pacific region.
It said it aims to expand its business operations, opportunities and customer footprint in the under served Asia Pacific areas with a specific focus on the Chinese market.
“Of importance to the group is that in December 2017, the Chinese Ministry of Industry and Information Technology published an action plan for the Artificial Intelligence (AI) Industry from 2018 t0 2020 as a complement to the “Made in China 2025” strategy,” 4Sight said in a statement on Monday (16 April).
Both teams have earmarked a strategy to combine the roles of marketing, sales, operations and technology delivery through the joint venture which will focus on targeting the industry sectors of telecommunication, mining and energy.
The 4Sight strategy of acquisition and organic growth will drive the roll-out plan in the country and the key technology capabilities of the group to be used will initially focus on:
- Optimisation of telecommunication networks through the application of dynamic tariffing services for revenue management, and network optimisation for active and passive
telecommunication network assets.
- Real-time Optimization (RTO) to optimize the efficiency and profitability of mining, manufacturing and energy provisioning processes.
- Prescriptive Maintenance to monitor, analyse and instruct planned maintenance actions on component level for process equipment via Artificial Intelligence agents.
- Simulation software and services to assist with the redesign and optimization of mining, manufacturing and energy processes for digitization purposes.
- Digitization and automation of physical processes through sensors, instrumentation, system integration, automation and control of manufacturing and mining processes at the plant floor level, combining hardware from leading manufacturers with world class engineering capabilities.
- Cybersecurity of the sensors, both commercial “Internet-of-Things” (IoT) and Industrial IoT on the Information Technology (IT) and Operational Technology (OT) networks, outside the network and un-authorised access inside networks.
The above intelligent algorithms and services will be provided by various subsidiaries in the group, being Digitata DTS, Digitata Networks, BluESP and Age Technologies and co-ordinated and driven by the Enterprise Project Management team from Sakhu.
“RM’s vision is to extend its current industry focus in government and financial services to that of smart factories, -health and -cities; backed by the Chinese government drive to integrate the internet, big data and AI in the next few years.
“4Sight will enable the JV with its Industry 4.0 know-how, implementation experience and technology offerings in the selected vertical markets. RM will drive funding of the JV, provide loan funding, identify local acquisitions and take responsibility for local business development,” the holding company said.