Designed to restore trust in data economy by placing ownership back in hands of users
Part of US$1bn investment in AI-driven products and hyperconnected, autonomous solutions
RIYADH, Saudi Arabia, Feb. 1, 2022 /PRNewswire/ -- NEOM Tech & Digital Company has announced the launch of its innovative consent management platform, M3LD, which empowers users to regain control of and be incentivized for the use of their data.
M3LD is able to find out who is in possession of a user's data, monitor how it is being used, and provide recommendations on privacy settings for all their digital accounts.
Speaking at LEAP, Saudi Arabia's flagship technology event, Joseph Bradley, CEO, NEOM Tech & Digital Company, said: "M3LD will place data ownership back in the hands of users and restore trust in the data economy. Today, trust is fundamental. Without trust, there is no data. Without data, there is no value. M3LD gives subscribers the benefit of transparency and, if a user agrees, a way to benefit from providing consent to use of their personal data."
M3LD is part of a substantial investment by NEOM Tech & Digital Company - amounting to nearly US$ 1 billion this year alone - in AI-driven products and hyperconnected, autonomous solutions that will provide competitive advantage and enable the next generation of cognitive enterprises and cities. Currently being developed with select data controllers, M3LD is slated for general release in the first quarter of 2023.
Su Le, Chief Digital & Strategy Officer, NEOM Tech & Digital Company, said: "A M3LD subscription will give users control over what commercial entities do with their data, as well as customization of privacy consent profiles according to data and usage types. Profiles will be stored in one place, enforced universally and managed through a single account. The platform will also provide an opportunity for users to be incentivized through the M3LD Incentive Network,
The M3LD AI engine aims to demystify complex privacy terms and conditions to help users understand what they are, when and if they sign up for it. M3LD aims to alert users if data is used without consent, if suspicious activity arises, or there is a data breach, users are alerted to it. Monitoring and other tools can be added in the future, and cloud migration will facilitate the integration of products already in use by subscribers.
NEOM's three-dimensional view into data brings together users, business and regulatory bodies around a common platform.
About NEOM Tech & Digital Company
NEOM Tech & Digital Company was founded in 2021 as the first subsidiary to be established out of NEOM, a region in Saudi Arabia charting the course for a new future fueled by technology. It was created to power the world's first ecosystem of cognitive technologies and, in partnership with global industry leaders, it aims to co-invent the future of living.
To learn more, visit cognitive.neom.com
For further information, visit: https://www.neom.com/en-us/sectors/technology-and-digital
About NEOM
NEOM is an accelerator of human progress and a vision of what a New Future might look like. It is a region in northwest Saudi Arabia on the Red Sea being built from the ground up as a living laboratory - a place where entrepreneurship will chart the course for this New Future. It will be a destination and a home for people who dream big and want to be part of building a new model for exceptional livability, creating thriving businesses and reinventing environmental conservation.
NEOM will include hyperconnected, cognitive towns and cities, ports and enterprise zones, research centers, sports and entertainment venues and tourist destinations. As a hub for innovation, entrepreneurs, business leaders and companies will come to research, incubate and commercialize new technologies and enterprises in groundbreaking ways. Residents of NEOM will embody an international ethos and embrace a culture of exploration, risk-taking and diversity - all supported by a progressive law compatible with international norms and conducive to economic growth.
For further information email media@neom.com or visit www.neom.com and www.neom.com/en-us/newsroom.
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