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UAE Initiates $200M Technology Fund for Developing Nations

Feb 12, 2024 - techtimes.com
The United Arab Emirates (UAE) has launched a $200 million fund to provide advanced technology to developing countries. The fund, managed by the Advanced Technology Research Council (ATRC) and financed by the Abu Dhabi government, aims to bridge the technology gap between developed and developing nations. The initiative will allow governments and organizations in poorer countries to access and implement innovative solutions developed by the UAE, tailored to their specific needs in sectors like healthcare, education, and agriculture.

In other news, the UAE is also a global leader in artificial intelligence (AI) deployment, with 74% of employees regularly using AI tools. However, concerns about data security and job displacement persist. Meanwhile, Abu Dhabi-based AI group, G42, has cut ties with Chinese companies, including TikTok owner ByteDance, to strengthen ties with US partners. This move is part of the UAE's strategy to solidify its position as a global leader in AI.

Key takeaways:

  • The UAE government has launched a $200 million fund to provide advanced technology to developing countries, aiming to bridge the technology gap between developed and developing nations.
  • The fund will enable governments and organizations in poorer nations to access and implement innovative solutions developed by the UAE, tailored to their specific needs in sectors like healthcare, education, and agriculture.
  • The UAE ranks among the global leaders in artificial intelligence (AI) deployment, with 74 percent of employees regularly utilizing AI tools in the workplace, despite concerns about data privacy and job displacement.
  • Abu Dhabi-based AI group, G42, has cut ties with Chinese companies, including TikTok owner ByteDance, to strengthen ties with US partners, highlighting the UAE's strategic positioning in the global AI landscape.
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