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Google Launches Largest AI Initiative In The MENA Region
Introduced in Dubai, the program focuses on AI skill-building, funding, and infrastructure, aiming to unlock $320 billion in growth.
At the AI Connect event in Dubai, which saw participation from Omar Sultan Al Olama, UAE Minister of State for AI, as well as other regional leaders and entrepreneurs, Google introduced its AI Opportunity Initiative for the Middle East and North Africa (MENA).
The program is the most extensive AI endeavor in the region and is aimed at expanding access to essential AI skills, research funding, and AI-driven products.
Google.org, the company’s philanthropic division, will allocate $15 million from this year through to 2027 to regional organizations. The funding is intended to broaden AI’s reach, ensuring it supports diverse communities across MENA and includes resources in skill development, research, infrastructure, and product launches in Arabic:
- AI Skill Development: Google is committed to making AI education inclusive and widely available. New educational programs are being launched, focusing on providing an AI Curriculum in Arabic, along with support for underserved communities. In addition, an AI safety education program for young people (ages 11-14) will be funded via a grant to the Raspberry Pi Foundation.
- AI Research & Local Solutions: Since 2005, Google has invested over $400 million globally in research. In the MENA region, Google is supporting local institutions through the startup accelerator startAD to develop AI applications supporting healthcare, education, and climate.
- AI-Powered Tools In Arabic: Google’s Gemini, an AI-powered assistant that understands over 16 Arabic dialects, launched in July 2023. New Arabic features include personalized guidance in learning and career advice, plus language-specific conversational and image-generation tools.
- Infrastructure Investment: Google has reasserted its commitment to cloud infrastructure in MENA, with data regions in Saudi Arabia, Qatar, and Kuwait. A partnership with Saudi Arabia’s Public Investment Fund (PIF) will support this effort with an AI hub to expand AI research and to boost digital skills for regional job growth.
Also Read: Wa’ed Ventures Pledges $100M For Early-Stage AI Startup Funding
Commenting on the project, Ruth Porat, President of Alphabet and Google, stated, “Google’s long-standing investments in the Middle East and North Africa have helped equip people and organizations with the connectivity, innovation, and skills required to thrive in the global digital economy”.
News
TerraPay & Suyool Offer Fast, Secure Money Transfers To Lebanon
The fintech experts have partnered to improve money transfer services, making remittances faster and more secure.
In a major stride for financial accessibility in Lebanon, TerraPay, a prominent global money transfer company, has announced a partnership with Suyool, a licensed financial platform regulated by the Banque du Liban. For Lebanese residents, the collaboration is expected to revolutionize sending and receiving of funds, addressing the growing need for secure, convenient and speedy transfers.
Lebanon has long been dependent on remittances, mostly due to its significant global diaspora. With over $6.5 billion received in 2023 alone, there exists a critical need for effective financial services that can accommodate both banked and unbanked individuals. Suyool is already partly addressing these needs, offering an advanced digital wallet designed to facilitate both local and international payments, while also promoting financial inclusion for unbanked Lebanese residents.
Through the new partnership, Suyool will now gain access to TerraPay’s expansive network, which spans over 144 receiving countries and 210 sending countries. In total, the platform supports 3.7 billion mobile wallets, 7.5 billion bank accounts, and a staggering 12 billion cards. The integration will enable Suyool to expand its remittance capabilities, ensuring reliable and accessible financial services.
Mr. Arz El Murr, Founder & CEO of Suyool, highlighted the value of the partnership: “By collaborating with TerraPay, we can enhance our services to meet the evolving needs of our customers. This partnership will enable us to offer faster, more secure transactions, helping to close the financial gap for many in Lebanon”.
Remittance pathways into Lebanon remain strong, particularly from the USA, Europe, and Gulf Coast Countries, playing a vital role in supporting Lebanese families who rely on funds from abroad. With around 20% of Lebanon’s population currently unbanked, Suyool is well-positioned to step in with its easy-to-use mobile finance app.
Also Read: A Guide To Digital Payment Methods In The Middle East
Ambar Sur, Founder & CEO of TerraPay, expressed excitement about the alliance, noting: “This partnership extends TerraPay’s reach in Lebanon, where there is high demand for effective remittance services. Together with Suyool, we aim to drive financial inclusion and deliver trustworthy payment options for everyone. This partnership also coincides with the launch of our Wallet Interoperability Council, which aims to improve connectivity and interoperability for cross-border transactions, including remittances and merchant payments using wallets”.
The TerraPay-Suyool collaboration marks a significant turning point in the country’s development of a more robust financial ecosystem by offering seamless, reliable, and secure global money transfers to Lebanon.
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