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TII commits $300 million in funding for future projects
DUBAI, United Arab Emirates–(ANTARA/Business Wire)–The Technology Innovation Institute (TII), the world’s leading scientific research center and the applied research pillar of the Abu Dhabi Advanced Technology Research Council (ATRC), today announced the launch of the Falcon foundation”. The non-profit Falcon Foundation is dedicated to promoting the development of open source generative artificial intelligence models and building a sustainable ecosystem around open source projects that accelerate technology development. As a founding member, TII has committed $300 million to fund these initiatives.
The launch of the Falcon Foundation, held at the prestigious World Government Summit (WGS) 2024, marks the occasion for convening stakeholders to collaborate to establish transparent governance as artificial intelligence continues to chart a growing path models and encourage key moments of knowledge exchange.
Starting from TII’s powerful native Falcon AI model, the foundation will convene stakeholders, developers, academia, industry, and individuals to help realize the power of collaborative decision-making among contributors. It will accelerate the democratization of AI with the help of renowned Falcon Foundation Ambassadors – distinguished AI professors at universities around the world and key industry players in AI.
The foundation aims to support the customization of Falcon models to meet the needs of specific industries or sectors. By providing open computing resources for Falcon AI’s ongoing research and development, the Foundation will provide a robust ecosystem to ensure model adaptability across a wide range of applications and environments.
Commenting on the news, His Excellency Faisal Al Bannai, ATRC Secretary-General, said: “In a world where artificial intelligence continues to advance at an unprecedented pace, initiatives such as the Falcon Foundation are leading the way in its development. It plays a vital role in the trajectory towards greater transparency and accessibility.”
Dr. Ray O. Johnson, CEO of TII, said: “We are committed to promoting transparency and collaboration in the field of artificial intelligence. Extending the UAE’s collaborative spirit to artificial intelligence development, we set new open standards and encourage support for open source around the world. All other entities join us.”
Beneficiaries of the foundation will include all entities that work with and support open source responsible artificial intelligence. To minimize dependence on external vendors, Falcon Foundation ensures business continuity by supporting independent technology options. As an organization open to all stakeholders working on open source, the Foundation will leverage global best practices as part of its AI regulatory and legal framework.
The Falcon Foundation’s commitment to open source and innovation in artificial intelligence embodies a forward-thinking approach that helps Abu Dhabi and the UAE leapfrog into a technology-driven future and supports the global community to harvest cross-industry collaborations to enable groundbreaking artificial intelligence. Intelligent progress.
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Jennifer Dewan, Senior Director of Communications
Source: Institute of Science and Technology Innovation
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