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
PMCOrganometallix Announces Price Increase on All Products24.4.2026 22:55:00 CEST | Press release
Due to significant changes in market conditions, PMC Organometallix, Inc. announces that effective May 1, 2026, or as contracts permit, prices across all product lines globally will increase by 10-25%. This adjustment is driven by sustained cost pressures from key inputs including rising raw material costs and escalating freight and logistics expenses. While the company has been absorbing these increases, the current economic environment brought on by the geopolitical crisis of the Iran conflict requires this adjustment to continue providing the high-quality, consistent materials and supply reliability that customers expect. PMC Organometallix will implement these changes in a transparent, collaborative manner and values your partnership while navigating these economic challenges. Customers with questions or to discuss a specific situation should contact their account representative. About PMC Group PMC Group is a growth-oriented, diversified, global chemicals and plastics company deli
Frankfurt Higher Regional Court upholds BESREMi® arbitral award in favor of AOP Health24.4.2026 18:52:00 CEST | Press release
Today, the Higher Regional Court of Frankfurt upheld the February 20251 partial final ICC arbitral award in favor of AOP Orphan Pharmaceuticals GmbH (“AOP Health”) in its dispute with PharmaEssentia Corp. (“PharmaEssentia”). The ruling confirms the award which found the Taiwanese company to be liable for certain damages. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260424005227/en/ Portrait Dr. Rudolf Widmann, Founder AOP Health Credit: AOP Health/Daniel Ospelt Dr. Rudolf Widmann, one of the two founders of AOP Health, explains: “We very much welcome the Frankfurt Higher Regional Court’s decision that confirms our position. In the interest of our patients, we are dedicated to maintaining stable and sustainable access to BESREMi® and to responsibly navigating future challenges.” The Product in Dispute The conflict centers around BESREMi® (ropeginterferon alfa-2b), a product launched in 2019 and developed by AOP Health into
Compass Pathways Announces FDA Granted NDA Rolling Review Request and Awarded Commissioner's National Priority Voucher24.4.2026 16:37:00 CEST | Press release
Compass is the most advanced company in classic psychedelics and has generated positive data from two ongoing large, well controlled Phase 3 clinical trials, designed to uphold the highest regulatory standardsFDA grants Compass NDA rolling submission and review request, based on Phase 3 dataCNPV awarded for COMP360, Compass’ proprietary formulation of synthetic psilocybin, for treatment-resistant depression (TRD)CNPV further accelerates momentum and Compass is confident and ready to deliver for patients Compass Pathways plc (Nasdaq: CMPS), a biotechnology company dedicated to accelerating patient access to evidence-based innovation in mental health, today announced the U.S. Food and Drug Administration (FDA) granted Compass NDA rolling review request and selected COMP360, Compass’ proprietary formulation of synthetic psilocybin, for the Commissioner's National Priority Voucher (CNPV) program for treatment-resistant depression (TRD). Companies selected for the voucher program will be en
Banma Intelligence and Alipay Launch AI Cockpit Solution Powered by Alipay AI Pay, Enabling Seamless and Secure In-Car Transactions by Voice24.4.2026 16:04:00 CEST | Press release
At the 2026 Beijing International Automotive Exhibition (“Auto China 2026”), OS and AI technology company Banma Intelligence and Alipay today launched a new AI cockpit solution integrating Alipay AI Pay, enabling drivers to complete purchases by voice command directly from their vehicle. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260424618328/en/ Industry-first AI Cockpit Solution with Alipay AI Pay Unveiled “In the past two years, smart cockpits have achieved rapid advances in perception and decision-making,” said Ming Cai, Banma Intelligence Chief Product Officer. “With large models onboard, vehicles can understand user intent and make recommendations. By integrating Alipay AI Pay into our AI cockpit solution, we are removing the last friction point in the in-car smart cockpit experience - drivers simply speak to pay, no phone required.” The new AI cockpit solution initially covers two high-frequency use cases: enterta
Spatial Announces the Release 2026 1.0.1: New Enhancements Across 3D InterOp, Data Prep, Meshing, and 3D Modeling SDKs24.4.2026 15:21:00 CEST | Press release
Spatial Corp., the leading software development kit provider for design, manufacturing and engineering solutions and a subsidiary of Dassault Systèmes, today announced new enhancements across several of its product lines. These updates further strengthen Spatial’s commitment to delivering high-performance solutions that optimize interoperability, data preparation, and advanced modeling workflows. Designed to improve efficiency and robustness across CAD translation, modeling, meshing, and simulation processes, the latest updates introduce expanded format support, enhanced PMI handling, and new capabilities for complex geometry processing. 3D InterOp NX Reader Enhancement for 2D Drawings The NX reader imports 2D drawings as visualization data from NX 2412 and later versions. glTF Writer Supports Draco Compression glTF export incorporates Draco compression for meshes and point-clouds to significantly reduce output file sizes. Enhanced Support for Reading Product Manufacturing Information
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