The UAE has taken a remarkable step in the direction of advancing research and development in artificial intelligence and other emerging technologies. It has announced a $500 million investment to provide access to new technology for developing countries.
The Advanced Technology Research Council (ATRC) made the announcement on the sidelines of the World Government Summit (WGS) in Dubai. Held from February 12 to 14, the annual meeting cast a significant spotlight on AI, recognising its tremendous capacity.
Leveraging UAE’s technological expertise in six sectors
The $500 million investment comprises a $200 million initiative to provide access to the technology to emerging and developing countries, and the creation of $300 million Falcon Foundation to advance the development of open source generative AI models.
“The ATRC stands ready to partner with countries worldwide, leveraging our expertise in technology to address their challenges and drive collective progress in the AI-driven era,” said Faisal Al-Bannai, secretary general of the Council.
The ATRC Global Tech R&D Platform can serve as a conduit for countries to leverage the Emirates’ expertise in six sectors, such as food and agriculture, safety and security, healthcare, transport, sustainability, environment and energy, and aerospace and space.
Knowledge sharing and democratisation of AI
The investment is aimed at empowering every country with the means to thrive in the technology-driven world. The decision is expected to facilitate the development of sophisticated technology solutions, helping countries keep pace with the latest advancements.
The Falcon Foundation, a non-profit organisation, will improve knowledge sharing and accelerate the democratisation of artificial intelligence, according to the Council’s Technology Innovation Institute, reported Arab News on February 13.
“By enabling open computing resources for the continued research and development of Falcon AI, the foundation will provide a robust ecosystem to ensure the adaptability of the models across a broad spectrum of applications and contexts,” it noted.
Data bias and transparency among major challenges
The funding highlights the UAE’s commitment to fostering transparency and collaboration in AI. The recently concluded WGS24 was organised at a time when generative AI has emerged as a formidable force due to its ability to generate new and original content.
Global leaders engaged in meticulous discussions at the Dubai meeting, exploring the technology’s far-reaching impact and the urgent need for effective regulation, ethical design and adaptation strategies for governments and organisations.
Experts delved into the pivotal role of AI in shaping the global economic landscape. They addressed crucial challenges such as data bias and transparency, underscoring the importance of fair and responsible practices to instill trust in AI development and implementation.
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