UAE Launches $500 Million Initiative to Boost Global AI Research and Development 🇦🇪

The United Arab Emirates (UAE) has unveiled a groundbreaking $500 million program to accelerate research and development in artificial intelligence (AI) and other emerging technologies. Announced by the Advanced Technology Research Council during the World Governments Summit in Dubai, the investment comprises a $200 million initiative to provide access to cutting-edge technology for emerging and developing countries. Additionally, the program includes the establishment of the Falcon Foundation, a $300 million nonprofit organization dedicated to advancing the development of open-source generative AI models. Faisal Al-Bannai, Secretary General of the ATRC, emphasized their commitment to empowering nations globally with technological means to thrive in the AI-driven era. The newly established ATRC Global Tech R&D Platform will facilitate collaboration and knowledge exchange in six key sectors, while the Falcon Foundation aims to expedite the democratization of AI through open computing resources and transparent governance models, setting new standards for AI development collaboration.