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UAE unveils MGX to accelerate development and adoption of AI: Key details inside

 

UAE President HH Sheikh Mohamed bin Zayed inaugurated the Artificial Intelligence and Advanced Technology Council (AIATC) on January 22, 2024, to push the country to the forefront of global technological innovation. The council recently announced the creation of MGX, a technology investment firm aimed at fostering the development and deployment of AI and other advanced technologies to enhance the lives of present and future generations. Mubadala and G42 have been designated as foundational partners in MGX’s establishment, bringing a blend of seasoned expertise and visionary leadership.

MGX’s investment focus is centered on three principal domains: AI infrastructure, AI core technologies and applications, and semiconductor technologies. The company seeks to foster collaboration both domestically and internationally, expediting the advancement and integration of AI across different sectors. The current CEO of Mubadala’s Direct Investments platform, Ahmed Yahia Al Idrissi, has been appointed as the CEO of MGX.

The creation of MGX shines light on the UAE’s efforts to become a global hub for technological innovation through strategic investments and collaborative partnerships. The National Artificial Intelligence Strategy 2031 aims to position the UAE as a global leader in the evolving sector by 2031 and develop an integrated system employing the technology in numerous essential areas in the country.

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