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
Stallergenes Greer Expands Venom Immunotherapy Production Capacity With Acquisition of Entomon s.r.l.7.1.2026 11:07:00 CET | Press release
Stallergenes Greer, a global leader in allergy therapeutics, today announced that it has entered into an agreement to acquire Entomon s.r.l., an Italian company specialising in the production of certified stinging-insect venom extracts, notably of the Hymenoptera order, used for the manufacture of diagnostic preparations and Venom Immunotherapy (VIT). The transaction is expected to close by the end of January. Entomon, currently recognised as the only company in Europe capable of extracting pure venom from Hymenoptera insects, produces pharmaceutical-grade insect venom using proprietary techniques (Entomon Capillary Extracted Venom®) for medical use. Through this acquisition, Stallergenes Greer bolsters its venom manufacturing capabilities and supply of raw materials for life-saving VIT treatments, whilst safeguarding patient care continuity. Hymenoptera venom allergy is the most common trigger of severe anaphylaxis in adults1. According to the EAACI guidelines on venom immunotherapy,
ARIS Announces New CEO to Lead Agentic AI-led Strategy7.1.2026 10:00:00 CET | Press release
CEO Appointment ARIS, a global leader in process intelligence and transformation software, today announced the appointment of Guillaume Bacuvier as Chief Executive Officer. Guillaume will lead ARIS through its next phase of growth as a fully standalone company, accelerating its evolution from a market leader in Process Intelligence into a foundational platform for enterprises deploying and governing Agentic AI. Guillaume brings deep international leadership experience across technology, data, and software-enabled businesses, with a proven track record of scaling global platforms and leading complex organisations. After starting as a strategic consultant at Booz Allen Hamilton, Guillaume spent over a decade at Google, rising to Vice President in EMEA where he built and scaled some of Google’s largest data-driven businesses in Europe and held P&L responsibility across multiple countries. In the last decade, Guillaume has served as CEO of multi-continent, data-centric companies including
I Squared Capital Acquires Ramudden Global, a Leader in Traffic Management and Infrastructure Safety7.1.2026 09:00:00 CET | Press release
Acquisition will accelerate Ramudden’s ambitious growth plan across North America and Europe supported by strong infrastructure spending tailwinds I Squared Capital, a leading global infrastructure investment manager, today announced that, through its flagship fund, it has agreed to acquire Ramudden Global, from funds advised by Triton Partners (“Triton”), a leading European mid-market sector-specialist investor. Ramudden Global is a leading international provider of traffic management and infrastructure safety services supporting the maintenance and upgrade of essential transport and utility networks. The company operates more than 190 depots across 13 countries in Europe and North America delivering mission-critical services that help to ensure safety, regulatory compliance and continuity of service across road, utility and broader infrastructure works. This investment underscores I Squared Capital’s commitment to investing in essential, regulated, infrastructure businesses that unde
RoslinCT and BOOST Pharma Announce Strategic Manufacturing Agreement to Advance Cell Therapy for Infants with Osteogenesis Imperfecta7.1.2026 09:00:00 CET | Press release
RoslinCT, a global contract development and manufacturing organization (CDMO) specializing in advanced cell therapies, and BOOST Pharma, a clinical-stage biotechnology company developing first-in-class cell therapies for rare paediatric skeletal diseases, today announced a strategic manufacturing partnership to support the development of BOOST Pharma’s cell therapy, BT-101, for the treatment of infants with Osteogenesis Imperfecta (OI), also known as brittle bone disease. Under the service agreement, BOOST Pharma has transferred its manufacturing process to RoslinCT’s state-of-the-art facilities in Edinburgh, Scotland. The partnership will progress toward GMP manufacturing of starting materials and clinical drug product, supporting Phase III clinical development of BT-101. The therapy is an allogeneic mesenchymal stem cell (MSC) product designed to address the underlying cause of OI at the earliest stages of life. BOOST Pharma was founded on pioneering science originating from Karolins
Daiichi Sankyo and GENESIS Pharma Enter Exclusive Agreement for VANFLYTA® Commercialization in Central and Eastern Europe7.1.2026 08:30:00 CET | Press release
Exclusive agreement covers 13 Central and Eastern European markets Collaboration will help expand access to VANFLYTA for patients with newly diagnosed FLT3-ITD positive AML Daiichi Sankyo (TSE: 4568) and GENESIS Pharma have entered into an exclusive license and supply agreement for the distribution and commercialization of VANFLYTA® (quizartinib) in 13 markets across Central and Eastern Europe for the treatment of adult patients with newly diagnosed FLT3-ITD positive acute myeloid leukemia (AML). Under the terms of the agreement, Daiichi Sankyo will be responsible for the manufacturing and supply of VANFLYTA while GENESIS Pharma will lead medical affairs, market access and commercialization efforts in Bulgaria, Croatia, Cyprus, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Romania, Slovakia and Slovenia. Financial terms of the agreement are not being disclosed. VANFLYTA was approved in the EU in November 2023 for the treatment of adult patients with newly diagnose
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