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The UAE is launching Arabic AI software
An artificial intelligence group with links to Abu Dhabi’s ruling family has launched what it described as the world’s highest-quality Arabic AI software, as the United Arab Emirates pushes ahead with efforts to lead the Gulf’s adoption of generative AI. The large language model known as Jais is an open-source, bilingual model available for use…
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Islamic Coin partners with Republic Crypto
Marking a new chapter in Shariah-compliant digital currency, Islamic Coin has partnered strategically with the esteemed Republic Crypto, a renowned web3 advisory division of the global digital finance trailblazer, Republic. At the crux of this collaboration is a mutual commitment to refining Islamic Coin’s market approach and ensuring its successful implementation. Moreover, the partnership’s scope includes specialized…
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Saudi Arabia and the UAE are purchasing thousands of Nvidia’s AI chips
Nvidia’s graphics processing units are in high demand as Saudi Arabia and the United Arab Emirates snapped up thousands of its chips to build artificial intelligence software, the Financial Times reported Monday, citing unnamed sources. Saudi Arabia purchased at least 3,000 of Nvidia’s H100 chips, and the UAE, which has also begun work on its…
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Dubai will host an assembly on Generative AI in late 2023
Dubai is to host a congress on generative artificial intelligence in October, the Dubai Media Office announced on Tuesday. The Dubai Assembly for Generative AI will gather a cohort of international guests from the private and public sectors, including government officials, entrepreneurs, policymakers, and academics, to discuss the opportunities and risks posed by recent technologies.…
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AI will contribute $135 billion to Saudi economy in 2030
Artificial intelligence is set to contribute $135 billion to the Saudi economy in 2030, making the Kingdom the biggest beneficiary of the technology in the Middle East, according to global consultancy firm PwC. A report from the company noted that AI could add $320 billion to the region’s economy, equivalent to 11 percent of gross…
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The Middle East is spearheading the metaverse revolution
The metaverse technology is set to transform the global competitiveness of companies, and Saudi Arabia is embracing this vision. Spearheading the initiative is the Royal Commission for AlUla, which has unveiled a captivating metaverse experience. Users can now virtually explore and interact with the Tomb of Lihyan, Hegra’s largest tomb, providing a unique glimpse into the country’s…
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The GCC region needs $8bn in capital investment for the Web3 climate infrastructure
The GCC region requires about $8 billion capital infusion to develop Web3 climate infrastructure such as climate asset certification, waste management marketplaces, and decentralized funds to attract innovators needed to develop the digital asset space on a war footing to tackle the fast-rising instances of climate change induced disasters, an industry expert said. Dubai, currently…
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Saudi Arabia ranks first in the ‘government strategy’ sector on AI Global Index
Saudi Arabia has been ranked first globally in the “government strategy” sector of a recently published artificial intelligence report, which evaluates more than 60 countries in the world, the Saudi Press Agency reported on Saturday. The Global AI Index, one of the indicators of the international classification of artificial intelligence issued by UK-based news website…
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Tuwaiq Academy offers the Metaverse Academy camps for students in Saudi Arabia
Tuwaiq Academy has opened registration for the Metaverse Academy camps for students in Riyadh. The camps, the first of their kind in the Middle East and North Africa, will be held in partnership with Meta and will teach trainees to build and develop metaverse systems. Three educational tracks will vary in duration, with one-day, four-week,…
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Hong Kong and the UAE central banks to collaborate on crypto regulations
Hong Kong and the United Arab Emirates’ (UAE) central banks are looking to collaborate on cryptocurrency regulations and financial technology development. On May 30, the Hong Kong Monetary Authority (HKMA) said it met with its counterparts at the Central Bank of the United Arab Emirates (CBUAE), with the two agreeing to “strengthen cooperation” on “virtual asset regulations…
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- Deutsche Bank aims to enter the metaverse and engage with customers virtually
- The UAE is launching Arabic AI software