Saudi Aramco signs new augmented reality deal with PIF-backed US startup Magic Leap
Published 27 Jan,2021 via Arab News - Economy JEDDAH - Magic Leap, the US-based augmented reality startup backed by the Saudi Arabian sovereign wealth fund, Public Investment Fund (PIF), has signed a collaboration with oil conglomerate Saudi Aramco, its CEO Peggy Johnson announced on Wednesday.
Speaking at the Future Investment Initiative (FII), the two-day event taking place this week in Riyadh, Johnson said: “We just announced a partnership with Saudi Aramco to work with them on using the technology for remote collaboration and 3D visualization.”
The technology can be extremely helpful in “bolstering the economy” post-coronavirus (COVID-19), Johnson continued. Similar to virtual reality (VR), the device allows a smooth exchange of content between users in different parts of the world.
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