Today's Edition
RABI HAMAMSAH (ABU DHABI)
Abu Dhabi's recent launch of MGX, a technology investment company that aims to enable the advancement and deployment of leading-edge technologies, is a move in the right direction, leveraging AI's vast potential for the region, say experts.
The arrival of MGX comes ahead of the landmark G7 consensus on AI in Verona, Italy. On Friday, the ministers of the G7 countries reached an agreement, under the scope "Digital Development – Growing Together", stressing the need to work in partnership with developing countries to strengthen local AI digital ecosystems.
In an interview with Aletihad, the CEO of the Association of Information and Communications Technology Companies in Jordan (ICT), Nidal Al Bitar, expressed his admiration for the new venture.
He stressed that this step is an affirmation of the ambitious vision of the UAE towards embracing and developing advanced technologies and artificial intelligence on the global stage.
The importance of focusing on artificial intelligence infrastructure and the development of semiconductors and basic technologies point to the integrated approach that seeks to achieve significant progress in this field, he said.
Wajdi Makhamreh, an investment specialist based in Jordan, said that the establishment of MGX carries "great economic opportunities, not only for the UAE but for the whole region."
"The goal of the UAE strategy for artificial intelligence is to achieve the goals of the United Arab Emirates Sentinel 2071, and that means accelerating the implementation of development programmes and projects to reach a future, rely on artificial intelligence and services and data analysis at the rate of 100% by the year 2031, by improving government performance, accelerating achievement, and creating an innovative work environment," Makhamreh told Aletihad.
He pointed out that the strategy of the UAE will enable it to be the first in the world to invest in artificial intelligence in its various vital sectors, which will create a promising new market in the region with high economic value.
"I believe the strategy will target several vital sectors in the UAE, including the transport sector, health sector, space sector, renewable energy sector, water sector, technology sector, educational sector, in addition to the environment sector and the traffic sector," he added.
The Artificial Intelligence and Advanced Technology Council (AIATC) recently announced the creation of MGX, which will invest to accelerate the development and adoption of AI and advanced technologies through local and global partnerships.
MGX's investment strategy will centre on three key areas: AI infrastructure (including data centres and connectivity); semiconductors (including logic and memory chip design and manufacturing); and AI core technologies and applications (including AI models, software, data, life sciences and robotics).
The company will build on Abu Dhabi's existing investments in these areas and deploy capital alongside leading international technology and investment companies.
