(MENAFN) The United Arab Emirates (UAE) is steadfast in its commitment to bolstering its leadership position in the realm of artificial intelligence (AI), viewing it as instrumental in driving sustainable development initiatives and shaping the country's economic trajectory over the medium and long term. This dedication is underscored by the UAE's concerted efforts to foster the growth of AI and its associated technologies in recent years, reflecting a strategic vision aimed at harnessing innovation to propel national growth and global competitiveness.
The most recent milestone in the UAE's AI journey comes in the form of the establishment of the new "MGX" technology company, representing a significant development in the country's AI landscape. This announcement serves as a testament to the UAE's relentless pursuit of becoming a frontrunner in the global AI arena, signaling its ambition to leverage cutting-edge technology to address societal challenges and drive transformative change.
Initiated by Sheikh Mohammed bin Zayed Al Nahyan, President of the UAE, the Artificial Intelligence and Advanced Technology Council unveiled the creation of MGX on January 22, 2024. Positioned as a technology investment company, MGX is poised to empower, develop, and deploy cutting-edge technologies with the overarching goal of enhancing the lives of current and future generations. As a collaborative effort, Mubadala Investment and G42 have been named as founding partners in this groundbreaking venture.
MGX's strategic mandate encompasses accelerating the development and adoption of artificial intelligence and advanced technology through targeted investments and strategic partnerships, both within the UAE and on a global scale. By forging alliances with key stakeholders and investing in innovative AI-driven solutions, MGX aims to catalyze technological advancements that will drive sustainable growth and foster prosperity in the UAE and beyond.
The establishment of MGX reflects the UAE's unwavering commitment to harnessing the transformative potential of artificial intelligence to drive economic diversification, spur innovation, and enhance the nation's global competitiveness. Through strategic initiatives and partnerships, the UAE is poised to chart a course towards becoming a global leader in AI innovation, positioning itself at the forefront of the Fourth Industrial Revolution and paving the way for a more prosperous and technologically advanced future.
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