Honeywell, the American multinational conglomerate, and Internet of Things Technologies Company (IoT-squared), a joint venture between Saudi Arabia’s Public Investment Fund (PIF) and STC Group, have signed a Memorandum of Understanding (MoU) to advance the fields of sustainable cities, logistics platforms and technologies that drive digitalization in the kingdom.
The strategic MoU between Honeywell and IoT-squared, signed at the Global AI Summit in Riyadh, supports the objectives outlined as part of Saudi Vision 2030 related to smart city development and advancing technology adoption in society.
The MoU paves the way for Honeywell to help support the advancement of IoT projects in the Kingdom by exploring opportunities to utilize its innovative Honeywell City Suite (HCS) Platform. HCS is an artificial intelligence-enabled IoT platform that integrates data from critical city infrastructure systems.
The Honeywell City Suite can be scaled by communities to gauge energy consumption across city-owned facilities and utilities. Honeywell and IoT-Squared will also explore opportunities to utilize the Honeywell Movilizer Platform, cloud software for field operations to drive enterprise profitability in the logistics vertical and related services.
“We are pleased to be building on our strong relationship with Honeywell, a global technology leader, as we work towards enhancing IoT projects and supporting the future of digital transformation in Saudi Arabia. As a leader in the field of information and communication technology and IoT services, we are excited to be accelerating the adoption of localized, cutting-edge solutions in the Kingdom, while further developing a digital economy.”
“Honeywell has been delivering cutting-edge solutions to Saudi Arabia for more than 70 years, and we are actively contributing to the government’s vision to advance technology adoption and use digitalization to advance sustainability efforts in cities. Our work with IoT-squared is another step in this direction, and we look forward to combining our ready-now capabilities to enable the advancement of IoT projects. This effort furthers Honeywell’s technology capabilities and will help demonstrate the value provided through IoT to enhance the sustainable city and logistics projects,” said Mr. Abdullah Al-juffali, country president, Honeywell – Saudi Arabia and Bahrain.