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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.
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.
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.
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”.
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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.