Presight AI Holding PLC and the Kazakh Sovereign Wealth Fund Samruk-Kazyna announced a joint venture on the sidelines of COP28, to establish a company to accelerate digital transformation in Kazakhstan, through deployment of Presight's solutions and technologies. Presight also signed MOUs for pilot projects with two leading Kazakhstan entities, QazaqGaz, the Kazakh national gas operator, and railway operator KTZ Express, for pilot projects that will deploy AI and information technology to enhance efficiency and modernize processes in these key sectors. The joint venture agreement was signed by Thomas Pramotedham, CEO of Presight, and Nurlan Zhakupov, CEO of Samruk-Kazyna.

Under this agreement, Presight and Samruk Kazyna will establish a company in Kazakhstan to utilize Presight's big data analytics solutions in key sectors and industries, including energy, public services and transport, to support digital transformation. The two companies will also explore the development of high performance computing (HPC) capacity in Kazakhstan, and explore the potential to develop enterprise AI solutions, including sovereign GPT and Kazakh large-language model (LLM). The joint venture will also develop smart monitoring of equipment, labor protection and industrial safety solutions for Alatau Zharyk Company, an electricity grid operator in Kazakhstan, as well as big data processing and subsequent product monetization solutions for Kazpost, a national postal service.

The joint venture marks a pivotal moment in the realms of technology and economic growth, as it unites the expertise of Presight and the strategic vision of Samruk Kazyna in an unprecedented collaboration. The partnership not only promises enhanced efficiency and productivity for businesses that will translate into improved commercial results but also underscores the joint commitment to bolstering the nation's technological landscape. As part of the joint venture collaboration, Presight signed a cooperation agreement with QazaqGaz to explore opportunities in implementing latest technologies in the management of gas balance in Kazakhstan.

Under this agreement, Presight will run a comprehensive analysis of the existing systems at QazaqGaz and set the stage for full-fledged project implementation that will include a pilot at selected gas facilities and an introduction of new billing system for the company. Upon successful completion of the pilot, the project is set to expand across the entire country. The agreement was signed by Thomas Pramotedham and the CEO of QazaqGaz, Sanzhar Zharkeshov.

Under this agreement, Presight will conduct an in depth analysis of the existing information systems at KZT Express in preparation for a full-fledged project implementation that will include solutions for management of railway routes, interactive control over train movement, deployment of digital solutions in commercial activities, as well as an integrated system for detailed financial and management accounting.