World’s first ‘AI-based’ online learning programs announced

Updated 28 July 2017

World’s first ‘AI-based’ online learning programs announced

VFS Edu Support Services Pvt. Ltd., the education services arm of VFS Global, has announced a partnership with UK-based Edtech Oxademy Technologies and its subsidiary Oxademy Business School to form a new global digital learning platform “VFS-Oxademy.”
VFS-Oxademy will offer a first-of-its-kind knowledge-driven artificial intelligence (AI) cloud infrastructure called OX360, which identifies each learner’s strengths and weaknesses and generates learning paths based on individual learner’s behavior, personalizing the learning to each individual student.
The new platform is designed to be a response to the limitations of purely online courses, which have suffered from high drop-out rates, due in many cases to the lack of a personalized learning element and the monotony of rote learning.
VFS-Oxademy will provide internationally-accredited post-graduate and executive education programs in full online and “blended” modes — combining online with classroom learning — for students and professionals from across the globe.
OX360 will allow MBA students to undertake a “virtual work placement” with a blue chip organization as part of the final stage of their studies.
This allows students in the Middle East or India to work with a company in the UK via virtual technologies.
Another benefit to students is the lower cost of obtaining an accredited qualification through VFS-Oxademy. For example, the cost of an MBA course under OX360 will be less than one-third of the usual cost.
Syed Shahzad, founder and CEO, Oxademy, said: “We are bringing learning to people instead of people to learning and it is done by embracing the latest technologies available in digital human interaction and by using a huge amount of data. We have developed an innovative platform and programs that enhance the learning at large scale. VFS-Oxademy partnership is leading the way and pushing the boundaries by incorporating features that make use of artificial intelligence, big data, and analytics to evolve the education sector.”
Bernard Martyris, chief of human resources, VFS Global, said: “A high quality education, especially for advanced professional degrees, carries lifelong benefits. A unique feature of the VFS-Oxademy programs is that they can be customised to individual needs of students, irrespective of location or background. We are delighted to partner with Oxademy to offer digital learning programs that make higher education more accessible to students, in a format that offers them all the advantages of getting an international degree from anywhere in the world.


SRC signs SR250m refinancing deal with Bank Aljazira

Updated 47 min 34 sec ago

SRC signs SR250m refinancing deal with Bank Aljazira

The Saudi Real Estate Refinance Company (SRC), a subsidiary of the Public Investment Fund (PIF), announced that it has signed a mortgage portfolio acquisition agreement with Bank Aljazira, in the presence of Minister of Housing and Chairman of SRC Majed Al-Hogail.

SRC will refinance SR250 million ($66.7 million) of mortgage receivables with the bank, with subsequent anticipated transactions in the future under the MoU.

The agreement was signed by Fabrice Susini, CEO of SRC, and Nabil Al-Hoshan, CEO and managing director of Bank Aljazira, at a special ceremony held in Riyadh. 

Susini said: “Today’s agreement with Bank Aljazira reinforces our commitment to providing lenders with liquidity while developing innovative finance solutions, and in doing so we help our citizens to climb the housing ladder.” 

Portfolio acquisitions such as these will help us ensure that we are able to refinance at least around 10 percent of the market by the end of 2020, and 20 percent of the market by 2028.” 

Al-Hoshan said: “Since 2008, Bank Aljazira invested in the mortgage business and increasing its portfolio year on year which resulted in being one of the leaders in real estate finance market. We will continue our strong leadership in the real estate finance industry, and our commitment to customers is strengthened and improved by this transaction with SRC. I am especially proud that Bank Aljazira and SRC have joined hands to accelerate the mortgage ecosystem which will provide innovative solutions for the citizens.”