TII
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
Civil Air Patrol Expands Fleet With 15 New Cessna Aircraft to Support Lifesaving and Community Missions15.12.2025 17:00:00 CET | Press release
Latest deliveries bring CAP’s Cessna fleet to more than 500 aircraft nationwide Textron Aviation Inc., a Textron Inc. (NYSE: TXT) company, announced today that Civil Air Patrol (CAP), the world’s largest operator of Cessna aircraft, is strengthening its national mission capabilities with an order for 15 additional piston-engine aircraft, including seven Cessna Skyhawk 172 and eight Cessna Skylane 182 models scheduled for delivery throughout 2026. The order follows recent deliveries of an additional two Cessna Skylane and one Cessna Turbo Stationair HD aircraft, expanding CAP’s fleet to more than 500 Cessna aircraft nationwide. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251215613573/en/ Delivery of an additional two Cessna Skylane and one Cessna Turbo Stationair HD aircraft joins CAP’s fleet of more than 500 Cessna aircraft nationwide. Cessna aircraft are designed and produced by Textron Aviation. “Civil Air Patrol’s miss
Winston & Strawn and Taylor Wessing UK to Combine, Creating a Premier Transatlantic Law Firm15.12.2025 16:52:00 CET | Press release
Winston Taylor to build on shared vision and culture in establishing a transatlantic powerhouse for major litigation, critical transactions, strategic IP, and private wealth Winston & Strawn and Taylor Wessing’s UK-led business announced today their intention to combine, creating a premier transatlantic law firm that would operate under a new shared name, Winston Taylor. The combination responds to increasing client demand for seamlessly integrated US–UK–EU counsel for the businesses, people, and markets driving capital and innovation. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251215914957/en/ The combination once final will unite two international firms with more than 400 years of combined history, complementary strengths, and a common vision to meet clients’ evolving global needs. The combined firm will include more than 1,400 lawyers, establishing one of the largest transatlantic firms whose footprint is primarily in
Despite Barriers, Financial Institutions are Clear About AI's Greatest Impact15.12.2025 16:32:00 CET | Press release
HTEC Finds AI is Everywhere in FSI, but Scaling Across the Enterprise Remains the Industry's Biggest Hurdle HTEC, a global AI-first provider of software and hardware design and engineering services, today released The State of AI in Financial Services & Insurance 2025, a first industry subset of its global research report in AI. This publication offers one of the clearest views to date into how financial institutions are adopting and scaling artificial intelligence. This industry-focused report analyzes insights from 250 C-suite leaders within financial services and insurance, drawn from HTEC’s broader global study of 1,529 C-suite executives—including CIOs, CTOs, CDOs, CPOs, CFOs, COOs, CEOs and CSOs—across Saudi Arabia, the UAE, the United Kingdom, the United States, Germany and Spain. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251215790717/en/ Executive Summary: The State of AI in Financial Services and Insurance 2025
Align Partners Sends Second Public Shareholder Letter to Coway, Urging Announcement of Revised Value-up Plan by January 30, 202615.12.2025 15:54:00 CET | Press release
Align identifies an inefficient capital structure and a sharp contraction in shareholder returns as core drivers of Coway’s undervaluationThe letter outlines seven key measures to strengthen capital allocation and governanceAlign urges Coway to announce a more concrete and enhanced Value-up Plan by January 30, 2026 Align Partners Capital Management Inc. (“Align Partners”), a shareholder of Coway Co., Ltd. (“Coway”) since 2023 holding more than 4% of the Company’s outstanding shares through funds it manages or advises, announced that it has sent a second public shareholder letter to Coway’s Board of Directors. The letter calls for measures to address the company’s chronic undervaluation and enhance shareholder value. Align Partners has requested that Coway announce a revised corporate Value-up Plan reflecting these proposals by January 30, 2026. In the letter, Align Partners assessed Coway’s February 2025 plan as insufficient to address Coway’s persistent undervaluation and urged the Bo
Marathon Asset Management Provides Junior Capital Financing to EXALTA Group15.12.2025 15:00:00 CET | Press release
Marathon Asset Management (“Marathon”), a leading global credit manager with more than $24 billion of assets under management, is pleased to announce the closing of a junior capital financing to EXALTA Group (“EXALTA” or the “Company”), a portfolio company of Montagu. Marathon led the financing that supported the formation of EXALTA through the strategic merger of three Montagu-owned companies including Intech, Resolve Surgical Technologies, and Tyber Medical. The transaction marks one of many successful transactions for Marathon’s European Credit business in the healthcare sector, where the firm has a knowledge-based advantage with a dedicated Healthcare Finance business and specialized medical advisory board providing sector insight to middle market companies. EXALTA is a global leader in orthopaedic contract design and manufacturing for spine, trauma, extremities, sports medicine and enabling technology providing comprehensive solutions to OEMs within the medical technology industry
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