TII
13.2.2024 10:35:27 CET | Business Wire | Press release
The Technology Innovation Institute (TII), a leading global scientific research center and the applied research pillar of Abu Dhabi’s Advanced Technology Research Council (ATRC), today announced the launch of the ‘Falcon Foundation’. The non-profit Falcon Foundation is dedicated to advancing the development of open-source Generative AI models and to building sustainable ecosystems around open-source projects that accelerate technology development. As a founding member, TII is committing to provide US$300 million to fund these projects.
The launch of the Falcon Foundation took place at the prestigious World Governments Summit (WGS) 2024 and marks a critical juncture in convening stakeholder collaboration to establish transparent governance models and encourage knowledge exchange as AI continues to chart a relentless growth path.
Commencing with TII’s powerful homegrown Falcon AI models, the Foundation will convene stakeholders, developers, academia, and industry, as well as individuals, and will help realize the power of cooperative decision-making among the contributors. It will accelerate the democratization of AI with the help of notable Falcon Foundation Ambassadors – eminent AI professors in universities around the world, as well as key industry players in the field of AI.
The Foundation is to support the customization of the Falcon models to address specific industries or sectors. By enabling open computing resources for the continued research and development of Falcon AI, the Foundation will provide a robust ecosystem to ensure the adaptability of the models across a broad spectrum of applications and contexts.
Remarking on the announcement, H.E. Faisal Al Bannai, Secretary General of ATRC, said: “In a world where AI continues to advance at an unprecedented pace, initiatives like the Falcon Foundation play a crucial role in steering the trajectory of AI development towards greater transparency and accessibility.”
Dr. Ray O. Johnson, CEO of TII, stated: “We're committed to fostering transparency and collaboration in AI. Extending the UAE's collaborative spirit into AI development, we set new standards for openness and we encourage all other entities who support open source from around the world to join us.”
The Foundation’s beneficiaries will encompass all entities that work with and champion open-source responsible AI. In minimizing dependence on external vendors, the Falcon Foundation ensures business continuity through enabling independent technological choices. As an organization open to all and every stakeholder committed to open source, the Foundation will leverage global best practices as part of its regulatory and legal framework for artificial intelligence.
The Falcon Foundation's commitment to open-sourcing and innovation in AI reflects a forward-thinking approach that helps Abu Dhabi and the UAE leapfrog into a technology-driven future and supports the global community in harvesting cross-industry collaborations for seminal AI advancements.
Source: AETOSWire
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240213101024/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Armis Centrix™ Named “Best Solution” for Cyber Exposure Management as Armis Wins Multiple Global InfoSec Awards at RSAC 202623.3.2026 17:00:00 CET | Press release
Armis awarded “Publisher’s Choice Cybersecurity Company”Yevgeny Dibrov received “Industry Pioneering CEO” Armis, the cyber exposure management & security company, today announced that it has won multiple Global InfoSec Awards from Cyber Defense Magazine at this year’s RSAC™ Conference. Armis received the following accolades: Armis Centrix™ won “Best Solution” for Cyber Exposure Management Armis named “Publisher’s Choice Cybersecurity Company” Yevgeny Dibrov, Armis’ CEO and Co-Founder, awarded “Industry Pioneering CEO” “We cannot safeguard modern infrastructure with yesterday’s tactics; the extended attack surface demands a unified, AI-driven approach that sees, protects and manages all assets (IT, OT, IoT, IoMT, applications, code, cloud and AI) in real time,” said Yevgeny Dibrov, CEO and Co-Founder of Armis. “Armis secures the most complex environments of organizations and governments worldwide to protect society from the destruction cybercriminals seek to cause. These awards reinforc
STOKR Appoints Subhankar Sinha as Senior Advisor23.3.2026 15:00:00 CET | Press release
Former BNY and PwC blockchain leader appointed to advance fund tokenization and STOKR's U.S. institutional expansion STOKR has appointed Subhankar Sinha as Senior Advisor. Sinha will work directly with STOKR's leadership team on fund tokenization with particular focus on money market fund (MMF) tokenization and on expanding STOKR's institutional presence in the U.S. market. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260323315236/en/ Image, Subhankar Sinha A New York-based digital assets executive, Sinha brings deep expertise across blockchain infrastructure, capital markets, and institutional business development. He previously served as Head of Blockchain at BNY, the world's largest custody and asset servicing business. Earlier in his career, he was a Director at PwC, where he co-founded and co-led the firm's blockchain consulting practice in the U.S. "Subhankar brings the institutional depth that this stage of STOKR's
Xsolla Partners With Cyprus Game Makers Association (CYGMA) as the Island Emerges as a Game Development Hub23.3.2026 14:00:00 CET | Press release
Strategic Partnership Equips Cyprus-Based Developers With the Commerce Infrastructure to Compete Globally Xsolla, a global video game commerce company that helps developers launch, grow, and monetize their games, today announced a strategic partnership with the Cyprus Game Makers Association (CYGMA). The collaboration will provide creators and studios within the CYGMA network with hands-on support, industry expertise, and access to world-class commerce tools, helping Cyprus-based studios bring their titles to players worldwide. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260323570679/en/ Graphic: Xsolla The partnership comes as Cyprus continues to attract game development talent, fueled by favorable business conditions and a growing creative community. Through its collaboration with CYGMA, Xsolla aims to accelerate momentum and expand opportunities for developers by removing commerce and distribution barriers that often p
Exein Unveils Next-Generation Runtime Security to Protect the AI-Native World23.3.2026 14:00:00 CET | Press release
Photon blocks cyberattacks before execution across physical AI and IoT, autonomous AI agents and cloud and edge infrastructure Kernel-level prevention sets a new standard beyond traditional user-space detection Builds on Exein’s position as the world’s largest runtime security provider, protecting over two billion devices Exein, the global leader in runtime cybersecurity, today unveiled Photon, a preemptive breakthrough solution that blocks cyberattacks at the point of execution. Designed for the AI-native world - where digital and physical systems are now inseparable - Photon marks a fundamental shift in how critical infrastructure protects itself. Unlike traditional cybersecurity solutions that detect threats after compromise - typically operating in user space and relying on a cloud network - Exein’s Photon operates directly inside the kernel, preventing malicious execution paths before they can run. By blocking attacks before the point of execution, the technology dramatically redu
Manhattan Associates’ 2026 Unified Commerce Benchmark Reveals the High Price of Standing Still in Retail23.3.2026 13:30:00 CET | Press release
Leaders achieve up to 2X revenue growth, but only 7% of retailers are true unified commerce leaders Manhattan Associates Inc. (NASDAQ: MANH), today announced the findings of its 2026 Global Unified Commerce Benchmark for Specialty Retail, the industry’s most comprehensive assessment of how well retailers connect digital and physical experiences to drive growth, profitability and loyalty. Conducted by Incisiv, a leading retail research firm, the Benchmark is based on real-world purchases and returns. It analyzes more than 400 specialty retailers across EMEA, LATAM and North America on 330 capabilities spanning four key experience areas: Shopping, Checkout, Fulfillment, and Service. The 2026 Benchmark reveals that while the industry has made steady progress in unified commerce maturity since 2023 when it was first launched, only 7% of retailers have achieved true unified commerce leadership while 33% are still stuck in the Basic category. Leaders are translating connected, data‑driven ye
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom