Communications, Space and Technology Commission announces the joining of 10 local and global companies to the Emerging Technologies Regulatory Sandbox
The Communications, Space and Technology Commission announced the joining of 10 global and local companies to the Emerging Technologies Regulatory Sandbox, with the aim of creating a flexible and stimulating environment for providers of services, solutions, and products based on emerging technologies in the Kingdom, contributing to attracting global investments and enhancing local investments through innovating solutions and services in a trial environment with flexible regulations.
The Commission explained that the companies joining the sandbox include "Microsoft, Siemens, OQ Technology, Tata, Master Works, DEMA Energy, Brighter, Future Look, ITMAM, Moltazim," which specialize in a number of emerging technologies, most notably the Internet of Things, blockchain, cloud computing, artificial intelligence, regulatory technologies, and extended, virtual, and augmented reality. These technologies also serve various sectors, such as the communications, industrial, health, and energy sectors, as the Commission provides, through its initiatives, a safe space that contributes to the maturity of innovations based on emerging technologies, and works to maximize their benefit for other sectors.
It is worth noting that the Commission will work, through the Emerging Technologies Regulatory Sandbox (ET SandBox), to achieve flexibility, increase regulatory maturity and cooperation among government entities, reduce time to market, and enhance knowledge sharing. It will also enable emerging technology service providers to offer innovative business models, solutions, and services that contribute to accelerating digital transformation across all sectors, in addition to attracting international investments and maximizing the benefit from these technologies. The Commission will also allow more companies to join the emerging technologies regulatory sandbox according to phases planned for the future.
The Commission explained that the companies joining the sandbox include "Microsoft, Siemens, OQ Technology, Tata, Master Works, DEMA Energy, Brighter, Future Look, ITMAM, Moltazim," which specialize in a number of emerging technologies, most notably the Internet of Things, blockchain, cloud computing, artificial intelligence, regulatory technologies, and extended, virtual, and augmented reality. These technologies also serve various sectors, such as the communications, industrial, health, and energy sectors, as the Commission provides, through its initiatives, a safe space that contributes to the maturity of innovations based on emerging technologies, and works to maximize their benefit for other sectors.
It is worth noting that the Commission will work, through the Emerging Technologies Regulatory Sandbox (ET SandBox), to achieve flexibility, increase regulatory maturity and cooperation among government entities, reduce time to market, and enhance knowledge sharing. It will also enable emerging technology service providers to offer innovative business models, solutions, and services that contribute to accelerating digital transformation across all sectors, in addition to attracting international investments and maximizing the benefit from these technologies. The Commission will also allow more companies to join the emerging technologies regulatory sandbox according to phases planned for the future.
Date
28/12/2022
Hijri Date
4/6/1444
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