Saturday 13 July 2024

Joelle Awwad and Abdulaziz AlJaziri

Key programme to foster AI-driven innovative growth

DUBAI, 24 days ago

The AI Retreat 2024, organised recently by the Dubai Center for Artificial Intelligence (DCAI) in collaboration with the National Program for Artificial Intelligence, marked the launch of a joint business incubator programme by the Dubai Future Foundation (DFF) and Meta.

The new programme aims to explore how Large Language Models (LLMs) can be leveraged to support product and service innovation across industries, while inspiring the development of impactful AI use-cases that leverage Meta’s open-source AI stack to help solve real world problems, unlock economic value and contribute to overall economic growth.

The announcement of the programme, which adopts Meta's AI model "LLAMA 3", was well-received by participants, including industry leaders, experts, and global companies at the AI Retreat in Dubai.

The programme particularly resonated with creative thinkers, future technology entrepreneurs, and founders of startups and established companies specialising in AI applications and uses.

The programme aligns with the goals of the Dubai Universal Blueprint for Artificial Intelligence (DUB.AI), that aims to support Dubai's economic agenda (D33) by adding AED 100 billion through digital transformation and increasing economic productivity by 50% through innovation and digital solutions.

It seeks to accelerate the achievement of these goals by positioning Dubai as a nurturing environment for AI companies and global talents, since the city is home to eight global tech unicorns.

The business incubator programme will foster collaboration and help exchange knowledge and expertise in AI product development. It will enhance innovation, improve the competitiveness of entrepreneurial projects, and develop opportunities and talents.

Additionally, it will support the creative initiatives that open new horizons in the digital economy, expected to reach $780 billion by 2030.

Abdulaziz AlJaziri, Deputy CEO of Dubai Future Foundation, emphasised the impact of global partnerships in driving AI entrepreneurship ecosystem, saying: “Through such programmes, we aim to create new opportunities and provide fertile soil for startups’ rapid growth.

“This will support the overall innovation system and bring innovative AI solutions and applications to life for the betterment of humanity. It also establishes Dubai's position as a global testbed and a vibrant environment for AI-based innovation and service development across vital future sectors,” AlJaziri added.

Joelle Awwad, Head of Policy Programs, Africa Middle East and Turkiye, at Meta, said: “At Meta, we believe that the future of AI development lies in openness and collaboration.

“Our commitment to working closely with regional partners like Dubai Future Foundation reflects our dedication to building awareness, enhancing capacities, and fostering practical innovation within the ecosystem. Together, we can unlock the true value of AI for both businesses and society.”

Strategic Collaboration

DFF plays a crucial role in the business incubator programme as a strategic partner. The DFF provides sector-specific consultancy, leverages existing networks and partnerships between the public and private sectors to empower startups, offers open spaces for talent exploration, potential development, and capacity building, and highlights promising projects.

This programme is part of Meta's regional initiative to leverage its open-source AI suite, fostering innovative solutions and activating economic opportunities that contribute to inclusive economic growth in Dubai and the region.

The programme covers five key sectors: energy, transportation, aviation, tourism, and retail. It includes four main stages: defining corporate design challenges that can be addressed using LLMs; engaging relevant AI startups, scale-ups, and established companies; hosting these startups in a six-week journey at DFF – focused on design thinking and rapid prototyping; and announcing AI-based innovative solutions, exploring product development, and discussing investment opportunities.

A Unique Model

The joint business incubator programme by Meta and DFF is based on the unique open source "LLAMA 3" model, which can be used to develop beneficial AI applications across various sectors.

The programme’s flexible approach in AI application development brings together different stakeholders, including innovators, creative thinkers, technology entrepreneurs, and founders of emerging and global tech companies.

The goal is to create exceptional solutions applicable on a global scale to enhance quality of life and multiply digital economy opportunities.

AI Retreat

The AI Retreat, held under the patronage of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Chairman of the Executive Council of Dubai, and Chairman of the Board of Trustees of the Dubai Future Foundation, gathered over 2,500 decision-makers, experts, and industry leaders from government and private sectors, as well as global tech giants.

The retreat discussed significant transformations in AI, including policies, legislation, governance, talent ecosystem, digital infrastructure, and developing data centre capabilities for AI uses. – TradeArabia News Service



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