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
TREASoURcE Shows How Circular Economy Solutions Can Move Beyond Pilots Across Sectors and Regions19.5.2026 07:00:00 CEST | Press release
Across Europe, many circular economy solutions struggle to move beyond isolated pilots and into real-world deployment at scale. New approaches are needed that combine technical feasibility, market relevance and citizen engagement, while remaining adaptable to local contexts. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260518914041/en/ TREASoURcE addressed circular economy challenges across energy, plastics and biobased side streams, combining technical solutions with stakeholder and citizen engagement. The EU-funded TREASoURcE project provides evidence that systemic, citizen-engaged circular economy solutions can be developed, tested and prepared for replication across regions. Using a common regional approach, the project combined real-life demonstrations, cross-value chain collaboration and early consideration of transferability to translate circular economy concepts into practical solutions in the fields of energy, mat
Azafaros Strengthens Leadership Team With Appointment of Amy Sullivan as Chief Financial Officer19.5.2026 07:00:00 CEST | Press release
Experienced biotech finance leader with over 30 years’ experience in capital markets and strategyProven track record in fundraising, M&A and company transformationCompany is currently running two pivotal Phase 3 studies with nizubaglustat in GM1/ GM2 gangliosidoses and Niemann-Pick type C disease Azafaros, a private company building a portfolio to become a leader in Lysosomal Storage Disorders and focused on addressing neurological symptoms, today announced that Amy Sullivan has joined the company as Chief Financial Officer. Ms. Sullivan brings more than 30 years’ experience in the life sciences sector, with expertise in capital raising, corporate strategy and communications. She joins Azafaros from IO Biotech, where she served as Chief Financial Officer. “Amy is a highly accomplished financial leader with a strong track record of supporting growth-stage biotech companies,” said Stefano Portolano, Chief Executive Officer at Azafaros. “Her expertise in financing, strategic positioning a
Shufti Recognised as Dual Leader in Liminal's 2026 Age Verification and Age Estimation Indexes, with Exceptional Ratings Across Both Benchmarks19.5.2026 07:00:00 CEST | Press release
Liminal’s independent buyer-led research positions Shufti among the highest-scoring vendors on Product Execution, Strategy, and Market Presence, citing its risk-based age assurance, sub-second inference, and privacy-preserving on-device capabilities. Shufti has been named a Leader in both the Age Verification and Age Estimation categories of Liminal’s 2026 Index Report, receiving an Exceptional rating for Market Presence across both. Liminal, an actionable intelligence firm, evaluates identity verification vendors across Product Execution, Strategy, and Market Presence, assessing scalability, accuracy, fraud resistance, innovation, and user experience. Out of 189 vendors assessed in the Age Verification Index, only 17 achieved Leader status. Shufti was among them and exceeded the leadership threshold with a 64% Product Execution score and a 92% Strategy score. In Age Estimation, Shufti again ranked among 17 Leaders from 80 evaluated vendors, exceeding leadership thresholds across core
Tennis World Champion Carlos Alcaraz Becomes Global Brand Ambassador for Ant International19.5.2026 05:10:00 CEST | Press release
Global tennis icon Carlos Alcaraz has become the new Global Brand Ambassador for Ant International, a leading global digital payment, digitisation and financial technology provider, and its key brands. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260518952984/en/ (L-R) Ant International CEO Peng Yang and Carlos Alcaraz celebrate Global Brand Ambassador partnership This collaboration underscores Ant International’s commitment to enabling inclusive growth across global markets through a relentless pursuit of world-leading AI-powered payment and fintech solutions for businesses and individuals – a vision that mirrors the fierce energy and inspiration Carlos Alcaraz brings to every match. “Carlos is not only a sporting champion, but the very personification of the core values of tennis for fans worldwide: boundless ambition, unwavering dedication, scalpel precision in delivery, and sportsmanship both on and off the court,” sai
Hitachi Announces Strategic Partnership With Anthropic to Strengthen "Lumada 3.0" Through Frontier AI19.5.2026 02:00:00 CEST | Press release
Combining Hitachi’s 110+ years of domain expertise with frontier AI will advance safe real-world deployment of physical AI and strengthen customer AI transformation Deploying advanced AI across all business processes for approximately 290,000 employees to enhance productivity at scale Developing 100,000 AI professional talent and co-creating new HMAX solutions leveraging proven outcomes from Hitachi’s “Customer Zero” approach Establishing the “Frontier AI Deployment Center,” a global organization spanning North America, Europe, and Asia with an initial team of 100 experts Hitachi, Ltd. (TSE:6501, "Hitachi") today announced a strategic partnership with Anthropic PBC (“Anthropic”), a global leader in AI safety research and trusted AI models, to further strengthen the “Lumada 3.0” business model. As artificial intelligence evolves beyond cyberspace to directly influence real-world systems—otherwise known as physical AI—demand is rapidly growing for the safe and seamless deployment of AI i
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