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Abu Dhabi AI Company Aims To Create Global Tech Hub

Backed by the Advanced Technology Research Council, AI71 seeks to democratize access to AI using the UAE’s Falcon large language model.

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abu dhabi ai company aims to create global tech hub
Emirates News Agency

Abu Dhabi’s Advanced Technology Research Council has launched a new artificial intelligence company known as AI71 in a bid to become a global hub for the emerging technology.

The new entity will democratize access to AI and is built using the Falcon large language model developed by the research council’s Technology Innovation Institute.

abu dhabi ai71 launch event

AI71 will soon be taken to market by commercialization arm VentureOne and was formally launched by Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi.

abu dhabi ai71 launch event promo

The company is designed to cater to medical, legal, education, and government fields, with “many others” to come, according to Faisal Al Bannai, secretary general of the council:

“By creating AI71, [the company] becomes a major part of driving AI use across multiple sectors. So, it increases our efficiency and ability to be much more productive and competitive globally. We will not be shy in our objectives. We will not be humble in our goals. We are determined to be a key player in shaping where AI is going globally. AI71 will play a pivotal role in this journey”.

Also Read: How (And Why) To Start A Tech Business In Dubai

AI71 has already signed an agreement with the Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications, Omar Al Olama, and local start-up ecosystem Hub71. Meanwhile, the company will join forces with major global corporations, including Amazon Web Services, PwC, World Wide Technology, and CNTXT.

Generative AI holds enormous economic potential. As investments in the sector continue to grow, Gulf countries are expected to generate $23.5 billion by 2030. The UAE has already made great strides in AI after recently unveiling the world’s largest Arabic natural language model.

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Lebanon Ministers Meet Visa Over National Digital Payment Platform

Finance and technology ministers say a comparative study and roadmap will follow before any decision on adopting a model.

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lebanon ministers meet visa over national digital payment platform

Lebanon’s finance and technology ministers met representatives from Visa last week to discuss a proposed unified national digital payment platform for government services, according to a readout from the Ministry of Finance.

The meeting brought together Finance Minister Yassin Jaber, Minister of State for Technology and Artificial Intelligence Kamal Shehadeh, a Visa delegation, and experts from both ministries. Discussion focused on whether Lebanon could establish a single platform through which citizens and institutions would pay taxes, fees, fines and other official transactions electronically, using mobile phones and other digital channels.

The Visa delegation presented examples from countries that have adopted unified government payment platforms, including the United Arab Emirates, Singapore, Estonia and Jordan. According to the readout, the examples were presented as having increased collection rates and expanded financial inclusion.

Talks covered settlement mechanisms, direct transfer to the treasury account, financial reconciliation, risk management, cybersecurity, fees, and an operational model that would involve the private sector. The parties agreed to continue technical and institutional consultations, prepare a comparative study, and develop an implementation roadmap before any decision on adopting a model for Lebanon.

Jaber said the Ministry of Finance had already enabled citizens to pay using credit cards and e-wallets through transfer companies, but described the proposed platform as a further step. He framed the development of electronic payment and collection systems as a priority within the ministry’s modernization plan.

Also Read: Deezer Says AI Tracks Now Make Up 44% Of Uploads

Shehadeh outlined the citizen-facing concept as a single mobile application through which users could settle obligations to ministries, government institutions and other bodies.

“The idea, in short, is that any citizen downloads an application on their mobile phone, through which they can pay all service obligations for all ministries, government institutions, or those owned by the Lebanese state, and others as well, as the platform is not limited only to state institutions,” he said.

Shehadeh added that the platform would not displace banks and money transfer companies that currently provide collection services to the state, calling it complementary to their work.

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