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Abu Dhabi’s International Holding Co. is adding an artificial intelligence observer to its board of directors, a move the $238 billion company says will help human board members make better strategic decisions.
The virtual entity Aiden Insight will receive an observer seat on the board of directors of IHC, the largest listed company in the United Arab Emirates. IHC said in a statement that Aiden will be able to “continuously process and instantly analyze decades of business data, financial information, market trends and global economic indicators.”
The unusual initiative, backed by Emirati artificial intelligence company G42 and Microsoft, deepens Abu Dhabi’s push for artificial intelligence. A UAE minister told Bloomberg this month that the UAE wants to become a global leader in testing and regulating artificial intelligence technology, echoing comments from OpenAI CEO Sam Altman.
G42 has been at the forefront of artificial intelligence efforts in the country. Its partnerships include one with OpenAI, the creator of ChatGPT, which is working with the Gulf company as part of its expansion into the UAE and wider region. According to Bloomberg reports last year, OpenAI has been in discussions with G42 to raise funds for the new chip company.
IHC has also been making inroads in the field and has formed a joint venture with India’s Adani Group to explore artificial intelligence and other technologies. Both the G42 and IHC are part of the $1.5 trillion empire controlled by Sheikh Tahnoon bin Zayed Al Nahyan, the UAE’s national security adviser and the country’s president. brother.
Aiden Insight’s responsibilities will include risk assessment and compliance monitoring, according to Monday’s announcement. It will attend IHC Board meetings as a non-voting observer.
IHC is not the first company to turn to artificial intelligence. Hong Kong-based Deep Knowledge Ventures uses an algorithm called VITAL, which a managing partner said helps boards make more “logical decisions.”
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