UAE Initiates $200M Technology Fund for Developing Nations

The United Arab Emirates (UAE) has started a landmark initiative to provide cutting-edge technology to developing countries.

The UAE government has announced a $200 million fund through the Advanced Technology Research Council (ATRC) to support advanced technology development in less developed areas (via Reuters).

At the heart of this initiative is a commitment to bridging the technology gap between developed and developing countries. The fund, financed by the Abu Dhabi government, will enable governments and organizations in poorer nations to access and implement innovative solutions developed by the UAE.

Faisal Al Bannai, Secretary General of ATRC, emphasized the inclusive nature of the fund, stating, "We will have the country become a private client for us to test what they need solved."

This approach ensures that the solutions provided are tailored to the specific needs of each nation, whether it be in healthcare, education, agriculture, or other sectors.

Global Leader in AI Tools Deployment

Moreover, the UAE's proactive stance on technology extends beyond financial support. According to a report by Oliver Wyman, the UAE ranks among the global leaders in artificial intelligence (AI) deployment, with 74 percent of employees regularly utilizing AI tools in the workplace (via SME10X).

However, the report also underscores the importance of continuous training, as 91 percent of employees express a desire for more AI training opportunities.

Despite the enthusiasm for AI, concerns persist regarding data security and job displacement. The report highlights that 94 percent of UAE employees using AI express concerns about data privacy while using public AI tools, emphasizing the need for robust cybersecurity measures.

Additionally, 25 percent of workers are actively seeking new employment opportunities due to AI disruptions, indicating the importance of reskilling and upskilling initiatives.

Interestingly, the report reveals a shifting attitude toward AI among UAE workers, with 52 percent expressing a preference for working with an AI colleague over a human counterpart. This openness to AI integration suggests a positive outlook on the future of technology in the workplace.

Abu Dhabi AI Group's Latest Move

In a parallel development, the Abu Dhabi-based AI group, G42, has relieved its stakes in Chinese companies, including TikTok owner ByteDance, as part of efforts to strengthen ties with US partners, Financial Times reports.

This move underscores the geopolitical complexities surrounding AI technology and the UAE's strategic positioning in the global AI landscape.

G42's decision to cut ties with Chinese partners aligns with its focus on collaboration with US entities like Microsoft and OpenAI. As the UAE seeks to solidify its position as a global leader in AI, partnerships with key players in the industry are essential for driving innovation and fostering sustainable growth.

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