DNeX in artificial intelligence tie-up

  • Business
  • Thursday, 22 Nov 2018

Barring any unforeseen circumstances, DNeX said it expects to deliver positive results for 2018. The group will continue to build its business by exploring opportunities that leverage on building blocks of its existing IT and e-services and energy businesses, while focusing on the implementation of planned new initiatives.

PETALING JAYA: Dagang Nexchange Bhd (DNeX), via subsidiary Genaxis Sdn Bhd, has signed a joint-venture (JV) and shareholder agreement with Agorai Pte Ltd to provide artificial intelligence (AI) consulting services.

Under the agreement, both companies will set up a JV company in Switzerland with an operating office in Malaysia, which will provide AI-related consulting services on a global scale. The JV company will be 50% owned by DNeX.

DNeX will invest US$5mil in this exercise, where the company will receive a minority convertible equity investment in Agorai, as well as an enterprise development licence to Agorai’s AI toolkit, which includes deep learning, machine vision and natural language understanding tools.

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