NIC signs strategic agreement to develop and implement AI-powered ERP system

03/10/2025 02:22 AST

In a move reflecting its commitment to a smarter and more agile investment future, National Investments Company has signed a strategic agreement to develop and implement an integrated Artificial Intelligence (AI)-powered Enterprise Resource Planning (ERP) system. This initiative is being undertaken in collaboration with Kuwait's leading digital solutions provider, Ascot, and Germany's Onfinity, a global ERP specialist.

National Investments Company stated in a press release that this partnership represents a significant milestone in its comprehensive digital transformation journey, enhancing its technological capabilities and reinforcing its position as a leading player in the local and regional investment sector. The project aims to develop an integrated system that improves resource and internal operations management, provides a more flexible operating environment, and enables faster responses to market changes. It will also incorporate advanced AI-driven analytics tools to improve investment decision accuracy, strengthen transparency and governance, and empower teams to manage data through a unified intelligent platform that supports sustainable growth in the years ahead.

In this context, Faleh Sultan, Managing Director of the Information Technology Sector at National Investments Company, described the agreement as a pivotal moment in the company's digital transformation journey. He emphasized that it paves the way for a smarter, more agile, and prosperous future, while the partnership with Ascot and Onfinity represents a strategic leap toward digital excellence. Sultan added that the new system is not merely a technical infrastructure upgrade but the "intelligent core" that will drive the company's future and reinforce its leadership in the investment sector.

Sultan explained that adopting this system is a cornerstone of the company's strategic roadmap, enabling it to implement global best practices in business management and service development, aligned with the highest technical standards. The project will streamline and modernize operations to enhance efficiency and effectiveness, while supporting innovation by aligning technological solutions with business objectives. This will provide teams with advanced tools to manage and analyze data accurately.

He further noted that the new system will strengthen the company's capacity for sustainable growth rooted in governance and transparency, while building a solid foundation for future investment expansion. The impact of this transformation will extend beyond internal operations, boosting shareholder and client confidence through a fully integrated smart framework that ensures performance continuity and agility in adapting to market changes.

Concluding his remarks, Sultan said: "Through this partnership, National Investments Company reaffirms its commitment to innovation and market leadership. We are entering a new era of smart investment. This agreement represents a strategic step toward the future. Aligned with Kuwait Vision 2035, the company aims to be a key driver of digital transformation in the national economy, placing innovation at the core of its operations and redefining how it serves its clients. This strengthens value creation and positions NIC as a trusted partner and a beacon of leadership and modern financial management, delivering sustainable growth and reinforcing the trust of shareholders and clients alike."

Trusted partner
Ascot expressed its pride in collaborating with the National Investments Company, and in being the trusted partner in this transformative journey, one that reflects firm confidence in our expertise and our ability to provide innovative solutions that support digital transformation strategies at the highest levels. Ascot added that this collaboration embodies the company's commitment to supporting institutional and governmental digital transformation in the State of Kuwait. It emphasized that the project represents an advanced step toward achieving the objectives of an integrated digital economy under Kuwait Vision 2035, by providing smarter and more efficient systems that contribute to enhancing competitiveness in both the local and regional markets.

New horizons for innovation
On the other hand, Onfinity highlighted that its platform opens new horizons for innovation powered by artificial intelligence and seamless process integration. The solution enables institutions to achieve advanced operational performance while leveraging data more effectively to drive strategic decision-making. The company further emphasized that the Onfinity cloud-based, open-source platform represents a modern alternative to traditional systems. It provides a fully integrated environment that unites artificial intelligence, business intelligence, customer relationship management, and document management tools, delivering comprehensive solutions that boost operational efficiency and foster sustainable operational intelligence.

Onfinity underscored that the platform is purpose-built to accelerate digital transformation, simplify the integration of diverse systems, and empower teams to manage data and processes with greater efficiency. In doing so, it opens the door to innovative strategies that adapt to evolving market dynamics and strengthen competitiveness at both the local and regional levels.

Kuwait Times