UAE's $500m Investment in AI and Research Platform

The UAE has unveiled a $500 million program to accelerate research and development into artificial intelligence and other emerging technologies. The investment comprises a $200 million initiative aimed at providing access to cutting-edge technology for emerging and developing countries and the creation of the Falcon Foundation, a $300 million nonprofit organization dedicated to advancing the development of open source generative AI models.

The newly established ATRC Global Tech R&D Platform will serve as a conduit for countries to leverage UAE’s technological expertise in six sectors: aerospace and space, food and agriculture, healthcare, safety and security, sustainability, environment and energy, and transport. According to the ATRC’s Technology Innovation Institute, the Falcon Foundation will drive knowledge sharing and expedite the democratization of AI.

CEO Ray Johnson said: “We’re committed to fostering transparency and collaboration in AI. Extending the UAE’s collaborative spirit into AI development, we set new standards for openness and we encourage all other entities who support open source from around the world to join us.”

Last year, the institute was among the first to open source its large language model, Falcon 40B, royalty free in an effort to establish transparent governance models and encourage knowledge exchange.