CST announced the joining of 10 companies to the Emerging Technologies Regulatory SandBox, which aims to provide a flexible environment for emerging technologies in the Kingdom, that promote global and local investments by innovating solutions and service.
CST pointed out that the joined companies are (Microsoft, SIEMENS, TATA, Masterworks, DEMA ENERGY, OQ TECHNOLOGY, Brighter, Future Look, ITMAM, and Moltazim). These companies cover a wide range of technologies such as (the Internet of Things, Blockchain, Cloud Computing, Artificial Intelligence, Regulatory Technologies, Extended, Virtual and Augmented Reality) and serve different sectors including Telecommunications, Industry, Health and Energy.
The commission's initiative provides a safe space and flexible regulations that contribute to the innovation maturity of emerging technologies and maximizes the use of emerging technologies in other sectors.
The Emerging Technologies Regulatory SandBox is part of CST's mission to achieve flexibility, rise regulatory maturity and cooperation between governmental entities, reduce time to market, promote knowledge sharing, as well as enable service providers to test and deliver innovative business models, solutions and services that accelerate digital transformation, attract local and international investments and maximize the use of emerging technologies.
According to the planned future phases, the commission will allow more companies to join the Emerging Technologies Regulatory Sandbox.