Lakeba Group and University of Wollongong in Dubai Signs MOU for AI Collaboration to drive global innovation and excellence

Lakeba Group, a leading Australian company in AI for financial services, and the University of Wollongong in Dubai, a branch of the prestigious Australian university, have signed a memorandum of understanding to collaborate on joint R&D projects and internship opportunities for students.

Lakeba Group and University of Wollongong in Dubai (UOWD) are pleased to announce that they have entered a memorandum of understanding (MOU) to establish a framework for collaboration in the field of artificial intelligence (AI) for financial services.

This groundbreaking collaboration represents a dynamic fusion of academic excellence and industry prowess, aimed at pushing the boundaries of what’s possible in the world of AI and Finance.

The MOU aims to leverage the complementary strengths and expertise of both parties in AI, data science, and financial technology and to foster innovation and social impact through joint research and development (R&D) projects, academic and technical exchange, and internship opportunities for UOWD students at Lakeba offices around the world.

Lakeba Group is a company that specialises in developing and deploying AI solutions for the financial services industry, such as fraud detection, credit scoring, and customer segmentation and more. Lakeba has offices in Australia, India, Italy, the UK, and the USA and serves clients across the globe.

UOWD is a branch of the University of Wollongong, Australia, one of the world’s top 250 universities, with a campus in Dubai Knowledge Park. UOWD offers internationally recognised degrees in business, engineering, information technology, and arts and humanities and strongly focuses on research excellence and industry engagement.

Mr. Porcelli said:
“We are delighted to partner with UOWD, a leading academic institution in the region, to advance the frontiers of AI for financial services. This collaboration will enable us to access the rich talent pool and cutting-edge research capabilities of UOWD and to offer valuable learning and career opportunities for UOWD students.”

Professor Salem said:
“This partnership is a testament to our commitment to fostering a culture of innovation and collaboration with industry partners, such as Lakeba Group, who are at the forefront of AI and fintech. This collaboration will enhance our research impact and relevance and will provide our students with exposure to real-world challenges and solutions in the rapidly evolving field of AI for financial services.”

This collaboration marks a pivotal moment in the trajectory of AI and financial services, as two entities with distinct strengths converge to create a powerhouse of innovation. The partnership’s success will undoubtedly have far-reaching implications, shaping the future of AI in finance and contributing to the global knowledge pool.

The MOU was signed by Mr Giuseppe Porcelli, CEO and Founder of Lakeba Group, and Professor Mohamed Salem, President of UOWD in March 2024.

For more information, please contact:
BlueChip Communication
Sydney Australia

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About Lakeba

Lakeba builds businesses that are optimised for high returns from low investment, at low risk when compared with the start-up sector. It utilises proprietary artificial intelligence (AI), decades of business and technology experience, and scalable shared services, to support each phase of business building. So far it has ‘conceived, created and commercialised’ 15 ventures, of which three have already been spun-out.

The unique Lakeba AI ‘neural network’ ‘conceives’ opportunities by continually interrogating the internet to establish patterns which suggest a business ‘need’ that could be solved digitally. Its entrepreneurs then double check this analysis and determine the viability of the business idea and its commercial potential.

To ‘create’ a venture, Lakeba works with partners, industry, and the wider innovations ecosystem to create digital technologies that eliminate the frictions identified by the neural network. A team of technologists, designers, and entrepreneurs build out the value proposition and establish the business. Lakeba invests its time, capabilities, capital and resources to craft ideas into reality.

‘Commercialise’ is the final stage of the Lakeba process. Once the digital proof of concept delivers on its promise, it is enhanced with radical intelligence. Working with partners, investors and the customers, Lakeba’s team refines and optimises the operations and distribution to rapidly commercialise the venture. This ensures the business continuously delivers value to customers as it scales and diversifies across industries and the globe.

Lakeba Group was founded by Giuseppe Porcelli, Entrepreneur and Visionary of Future Technology.