Artificial Intelligence Saudi Arabia pledges to ‘confront’ risks posed by AI Saudi Arabia is determined to be “at the forefront” of artificial intelligence funding and development, a senior official told an AI conference in Riyadh on Tuesday. However, Abdullah bin Sharaf Alghamdi, head of the Saudi Authority for Data and Artificial Intelligence, also said the kingdom was wary about the security implications of AI and would take […] September 10, 2024
Opinion Artificial Intelligence How I learned to stop worrying and love AI You fear what you do not know – like Excel spreadsheets and ChatGPT August 2, 2024
Video length: 04:26 VIDEO Finance AI is adding extra lustre to gold market Gold isn’t just for jewellery and bullion bars – it is also an important material in the tech sector. Andrew Naylor, head of the Middle East region at the World Gold Council, explains how the precious metal’s increasing use in artificial intelligence chips is raising demand – and prices. Watch the video to find out […] July 30, 2024
Analysis Artificial Intelligence Local talent vital for UAE to achieve AI ambitions The UAE is on a quest to lead the artificial intelligence sector but one of the stumbling blocks it is striving to address is the lack of local professionals coming into the industry. AI is expected to contribute $320 billion to the Mena region’s economy by 2030 – $96 billion of which will be attributed […] July 24, 2024
Opinion Artificial Intelligence AI and blockchain can support UAE carbon credit goals Carbon credits have become a critical instrument in mitigating greenhouse gas emissions July 22, 2024
Health Abu Dhabi launches AI tender to predict epidemic threats The Abu Dhabi Public Health Center has launched a tender for an artificial intelligence-powered platform designed to predict epidemic threats. The aim is for the platform to use AI’s ability to process extensive and complex datasets at high speed as a way to analyse both local and international outbreak trends alongside national travel patterns to […] July 15, 2024
EXCLUSIVE Artificial Intelligence AI regulations double investment costs, says Mashreq Bank Differing rules surrounding artificial intelligence and the lack of a global regulatory environment is doubling the cost of new investments and complicating business expansion, a leading UAE financial institution has revealed. Amith Rajan, executive vice-president at Mashreq Bank, told AGBI that a “patchwork” AI regulatory landscape has prevented the bank from entering some countries, and […] July 11, 2024
Artificial Intelligence Google to fund AI research at Saudi university Kaust Google is providing research grants into artificial intelligence at Saudi Arabia’s King Abdullah University of Science and Technology (Kaust). The $100,000 grants will boost recognised Kaust researchers doing work in multilingual and multimodal machine learning, and the development of large language models. The academic staff will be associated with its new Centre of Excellence on Generative […] July 9, 2024
Artificial Intelligence Saudi companies form AI cloud services partnership The Saudi IT company Al Moammar Information Systems, an investor in the US artificial intelligence (AI) research company OpenAI, has formed a partnership with the investment banker Saudi Fransi Capital to look into launching cloud services for the kingdom’s AI market. Al Moammar will “recommend an optimal business model considering demand, regulations, and technology, assess […] July 8, 2024
Tech Mubadala-backed GlobalFoundries buys new semiconductor tech Chipmaker GlobalFoundries, backed by Abu Dhabi’s Mubadala Investment Company, has bought the rights to a new technology to boost power in electric vehicles, artificial intelligence and data centres. It bought the gallium nitride (GaN) technology from semiconductor company Tagore Technology for an undisclosed sum. The acquisition includes a team of Tagore engineers with expertise in […] July 2, 2024
Artificial Intelligence Riyadh IT company wins $10m project with Saudi AI authority Al Moammar Information Systems, a Riyadh-based technology company, has secured a SAR39 million ($10 million) project with the Saudi Data and AI Authority (SDAIA). Al Moammar, a listed company formed in 1996, invested $5 million in the giant American artificial intelligence research company OpenAI earlier this year. OpenAI is known for its large language AI […] June 27, 2024
Analysis Artificial Intelligence US scores geopolitical win with Abu Dhabi-Microsoft tie-up Microsoft’s $1.5 billion investment in Abu Dhabi’s artificial intelligence company has received a significant vote of confidence from US authorities. Tarun Chhabra, a senior White House adviser on technology, said on Monday that the US government has raised no objections to the Silicon Valley giant’s partnership because G42 had severed ties with the Chinese tech […] June 26, 2024
Artificial Intelligence Qatar’s Ooredoo signs AI deal with chipmaker Nvidia US chipmaker Nvidia has signed a deal with Qatari telecommunications provider Ooredoo Group to bring its artificial intelligence technology to five countries in the Middle East, the companies announced on Sunday. Ooredoo will be the first company in the region to offer direct access to Nvidia’s AI and computer chips to its customers in Qatar, […] June 24, 2024
Tech Abu Dhabi-backed chipmaker Cerebras plans IPO Cerebras Systems, an Abu Dhabi-backed chipmaker looking to compete with Nvidia, the world’s top chip company by market value, has confidentially filed for an initial public offering, according to reports. Based in California’s Silicon Valley, Cerebras is also planning to offer preferred shares at a significant discount, aiming to attract private investors before the IPO, […] June 21, 2024
Health Mubadala and QIA invest in US cancer research startup Funds from the UAE and Qatar have invested in a US-based clinical-stage biotechnology start-up. Mubadala Capital, a wholly owned subsidiary of Mubadala Investment Company, co-led the $50 million Series B extension in funding to Iambic Therapeutics, based in San Diego, California. The funds will allow the American start-up to broaden its pipeline of AI-discovered clinical […] June 21, 2024
Economy Saudi Arabia and UAE up in World Competitiveness Ranking Saudi Arabia and the UAE have improved their rankings in the annual IMD World Competitiveness Ranking this year, as both Gulf states embrace artificial intelligence (AI) to make their economies more productive. The list, which is compiled by the International Institute for Management Development (IMD) in Switzerland, saw the UAE rise three places to seventh, […] June 19, 2024
Health Mubadala-backed US startup working on AI cancer care A US genomics startup, backed by Abu Dhabi’s sovereign wealth fund Mubadala, is working with ChatGPT creator OpenAI to improve cancer screening and treatment using artificial intelligence models. Color Health, which uses data science and machine learning for genetic testing and counselling in hereditary cancer and heart conditions, has developed an AI assistant, or “copilot”, […] June 18, 2024
Tech Nvidia stocks are all the rage in UAE as trading surges 50% Retail investors in the UAE have significantly ramped up their holdings in Nvidia – now the world’s most valuable company. Trading activity in the Emirates for the AI chipmaker’s stock jumped 50 percent in the first quarter of the year, according to data from a global trading and investment platform. Nvidia is now worth $3.34 […] June 18, 2024
Tech Saudi Arabia campaign aims to attract chipmakers Saudi Arabia has launched a National Semiconductor Hub in a bid to attract international chipmakers. The kingdom is targeting at least 50 semiconductor design companies to set up business by 2030, aiming to cut its reliance on imported computer chips. The global semiconductor industry, once plagued by shortages, is now showing signs of recovery and […] June 6, 2024
Artificial Intelligence China’s OpenAI rival backed by Saudi fund Saudi Aramco’s venture capital fund Prosperity7 has joined a $400 million investment round for Chinese generative AI startup Zhipu AI. Prosperity7 is a minority investor in Zhipu, which is valued at nearly $3 billion, the Financial Times reported on Friday. This marks the first instance of foreign investment in China’s quest to establish a homegrown […] May 31, 2024
Artificial Intelligence Prince Alwaleed part of Elon Musk’s $6bn AI funding round Elon Musk’s artificial intelligence startup xAI has secured $6 billion in a series B funding round led by investors including Saudi billionaire Prince Alwaleed Bin Talal and his investment firm Kingdom Holding Company. The round, which also included investments from Dubai-based Vy Capital and US companies Andreessen Horowitz and Sequoia Capital, will assist the commercial […] May 28, 2024
Tech G42 and Microsoft to invest $1bn in Kenya data centre Abu Dhabi-based artificial intelligence (AI) company G42 has partnered with US tech giant Microsoft to invest $1 billion in a green data centre in Kenya. The data centre, which will be built by G42 and its partners, will provide access to Azure – a computing platform developed by Microsoft – through a new East Africa cloud region. […] May 23, 2024
