Root4AI to fast-track AV tech; Qatar to invest €10b in French startups
Root4AI to fast-track AV tech; Qatar to invest €10b in French startups
Middle East AI News weekly digest...
Good morning!
Welcome to this week’s Middle East AI News!
Another week full of events and next week its time for LEAP 2024! Big investment news this week as French President Emmanuel Macron’s office announces that Qatar will invest 10 billion euros in French startups. Meanwhile, it comes as no surprise that Abu Dhabi registers an upswing in AI companies. Also another deep tech initiative from Abu Dhabi-based deep tech venture studio DeepMinds.
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Autonomous Systems
Root4AI to fast-track autonomous systems
#UAE #AVs - Abu Dhabi-based deep tech venture studio DeepMinds and UK-based technology development lab TTP, are to jointly develop a new technology platform to fast-track the development and rapid deployment of autonomous systems and related artificial intelligence models. Called Root4AI, the platform will connect deep tech development clusters in the Middle East and North Africa. (Middle East AI News)
Economy
67% av. growth for new AI companies in Abu Dhabi
#UAE #AI - A new study by Abu Dhabi Chamber of Commerce and Industry revealed that the number of AI companies registered in Abu Dhabi grew at a compound annual rate of 67% between 2021 and 2023. The increase reflects Abu Dhabi’s growing reputation as a hub for AI development. (Emirates News Agency)
Corporate Moves
Terminus Group opens international HQ in Expo City Dubai
#UAE #smartcities - Chinese smart city and Internet of Things developer Terminus Group, has opened its international headquarters in Expo City Dubai. The new headquarters will drive business expansion across the Middle East, plus develop cutting edge AI in a new laboratory. (China Daily)
Investment
Qatar to invest €10b in French startups
#Qatar #investment - Qatar will invested 10 billion euros ($10.9 billion) in French startups and tech funds between now and 2030, following a state visit by Qatar’s Emir Sheikh Tamim bin Hamad Al-Thani. Focus areas will include energy, semiconductors, aerospace, artificial intelligence, health, hospitality and culture. (The Circuit)
Qatar to create $1 billion tech fund
#Qatar #investment - The Qatar Investment Authority (QIA) will create a 1 billion dollar fund of funds to invest in international and regional venture capital funds with a focus on technology sectors. The announcement was made by the Qatari prime minister during the opening of the Web Summit. (Reuters)
Mubadala focuses on AI and spacetech in 2024
#UAE #investment - Abu Dhabi's sovereign wealth fund Mubadala will invest significantly in AI and space technology this year, according to managing director Khaldoon Mubarak, speaking at an Investopia 2024 on Wednesday. (Reuters)
CoreVision takes stake in VeFund
#Saudi #investment - Saudi startup fund CoreVision has acquired a major stake Saudi AI-powered startup VeFund, which helps investors to automate, source, screen, and manage their portfolio of startups. CoreVision plans to use VeFund’s AI technology to support the startup ecosystem. (Arab News)
GCC investors back AI chipmakers SPAC
#UAE #investment - California-based AI chip and software developer Blaize, plans to go public via a Special Purpose Acquisition Company (SPAC) backed by investors from Qatar, Saudi Arabia and the UAE. Last year the company signed a multi-year deal for a joint venture and data centre in the United Arab Emirates. (Forbes)
Startups
GAIA announces 3rd cohort
#Saudi #startups - GAIA, the Riyadh-based Generative AI startup accelerator run by New Native, has announced its third cohort of startups. The 18 AI startups have been through the 10 week programme and will be presenting their business concepts at a demo day next week, held during LEAP 2024. (LinkedIn)
GenAI
Riyadh Air passengers will book via GenAI
#Saudi #aviation - Riyadh Air will use generative AI to provide personalised experiences for travelers, allowing them to make flight bookings and plan trips. The airline has partnered with Adobe and IBM, to provide customers with a seamless booking experience. (Gulf News)
IHC adds AI copilot to board of directors
#UAE #GenAI - Abu Dhabi’s International Holding Company (or IHC), has added an AI observer to support its board of directors meetings. According to IHC, the AI assistant will provide data analysis, risk assessment, strategic planning support, innovation tracking, and ethical and compliance monitoring. (Emirates News Agency)
New AI chatbot for Egypt’s civil service
#Egypt #GenAI - Central Agency for Organization and Administration in Egypt's New Administrative Capital, has announced KMT, the Egyptian civil services first AI chatbot. The new chatbot will provide information on the New Administrative Capital to both government employees and the public. (Zawya)
Innovation
Dubai RTA labs focus on AI
#UAE #transport - Dubai’s Roads and Transport Authority organised five ‘innovation labs’ at its Mobility Research and Innovation Centre during the second half of 2023. Located at the University of Birmingham in Dubai, the innovation labs focused on artificial intelligence, circular economy, and traffic safety. (Emirates 24/7)
Meeza platform to accelerate AI use cases
#Qatar #CoEs - Qatar Foundation's managed services and solution provider, Meeza, has launched Meeza AI, an enterprise platform to accelerate the production and deployment of AI-related business use cases, in collaboration with AWS, Google Cloud, Huawei and others. (The Peninsula)
Global Trade
UAE announces Trade-Sustain-AI
#UAE #globaltrade - The UAE has launched Trade-Sustain-AI, a new knowledge initiative designed to inform governments about the future of technology in global trade. The initiative will produce specialised reports and events. (Emirates News Agency)
UK to deepen UAE AI sector partnerships
#UK #UAE #trade - The UK aims to strengthen its artificial intelligence collaboration with the UAE, according to Michelle Donelan, UK Secretary of Science, Innovation and Technology, who made a two-day visit to the UAE to learn about the governments approach to AI. (The National)
R&D
Germany AI centre to set-up AI R&D lab in Qatar
#Qatar #R&D - Germany’s Centre for Tangible Artificial Intelligence and Digitalisation or ‘ZEKI’ will establish a applied research centre for AI within Qatar’s free zones, under a new partnership with the Qatar Free Zones Authority (QFZ). (Gulf Times)
Rumour mill
Is Elon Musk coming to Kuwait?
#Kuwait #ElonMusk - Rumours abound in Kuwait about a possible visit from Elon Musk. First reported by a local news site, the rumour is that the Tesla Motors boss will visit Kuwait for discussions about establishing a global data and AI hub in the Gulf state. (248AM)