Would you like to receive notifications on latest updates of the following headlines?

UAE's G42 Secures $1.5bn from Microsoft to Advance AI Collaboration

POSTED ON April 16, 2024 •   Uncategorized      BY Samuel O . Adeniyi
Microsoft president Brad Smith and G42 CEO Peng Xiao (right) sign the $1.5bn AI investment deal in the presence of G42 chairman Sheikh Tahnoon bin Zayed Al Nahyan | Photo Credit: Arabian Gulf Business Insight

G42, a prominent artificial intelligence (AI) technology holding company based in the United Arab Emirates (UAE), has secured a $1.5 billion investment from Microsoft Corp. 

Microsoft announced the investment in G42 via a press release, posted on the company's official website on Monday. 

According to Microsoft, the investment will fuel joint efforts between both companies and will allow them to leverage cutting-edge AI technologies in skill development initiatives, not only in the UAE but also in other regions across the globe. 

Following the collaboration, Brad Smith, Vice Chair and President of Microsoft, will assume a position on the G42 Board of Directors. 

By harnessing the capabilities of Microsoft Azure, G42 intends to run its AI applications and services while partnering with Microsoft to deliver advanced AI solutions to global public sector clients and large enterprises. 

Furthermore, the collaboration aims to extend advanced AI and digital infrastructure to countries in the Middle East, Central Asia, and Africa, ensuring equitable access to essential services while upholding the highest standards of security and privacy. 

Chairman of G42, H.H. Sheikh Tahnoon bin Zayed Al Nahyan reacting to the collaboration expressed enthusiasm about Microsoft's investment. 

He described it as a pivotal moment for the company's growth and innovation emphasizing the shared values and aspirations for progress that underpin the strategic partnership between the two organizations. 

“Microsoft’s investment in G42 marks a pivotal moment in our company’s journey of growth and innovation, signifying a strategic alignment of vision and execution between the two organizations. This partnership is a testament to the shared values and aspirations for progress, fostering greater cooperation and synergy globally," Nahyan noted. 

A key aspect of the collaboration involves fostering a skilled and diverse AI workforce through a $1 billion investment in a development fund for developers. This initiative aims to drive innovation and competitiveness in the UAE and the broader region. 

Brad Smith, Microsoft Vice Chair and President, highlighted the joint commitment to promoting safe, trusted, and responsible AI, in collaboration with the governments of both the UAE and the United States. 

“Our two companies will work together not only in the UAE but to bring AI and digital infrastructure and services to underserved nations,” said Smith. 

“We will combine world-class technology with world-leading standards for safe, trusted, and responsible AI, in close coordination with the governments of both the UAE and the United States," he concluded. 

The commercial partnership is reinforced by assurances to both governments through a groundbreaking agreement aimed at ensuring secure and responsible AI development and deployment. 

Peng Xiao, Group Chief Executive Officer of G42, emphasized that Microsoft's strategic investment will advance the delivery of cutting-edge AI technologies at scale, elevating G42's international market presence and setting new industry standards for innovation. 

Xiao said, “Through Microsoft’s strategic investment, we are advancing our mission to deliver cutting-edge AI technologies at scale. This partnership significantly enhances our international market presence, combining G42’s unique AI capabilities with Microsoft’s robust global infrastructure. Together, we are not only expanding our operational horizons but also setting new industry standards for innovation.” 

Samer Abu-Ltaif, Microsoft Corporate Vice President and President of Central and Eastern Europe, Middle East and Africa, hailed the partnership as a testament to the vibrant tech landscape in the UAE and the broader region. 

He expressed confidence that the collaboration would unlock opportunities for customers and partners, accelerate innovation, and fuel economic growth.

0
READ ALSO
Ododo Reorganizes the Tourism Board, Kogi Hotels
BY Ebiakuboere England December 3, 2024 0

KOGI- Kogi State Governor Alhaji Ahmed Ododo has appointed former Kogi Hotels and Tourism Board Chai...

READ ALSO
Rivers Varsity Suspends Four Students For Assault
BY Benedicta Bassey June 16, 2024 0

The Rivers State University, Nkpolu-Oroworukwo, Port Harcourt has suspended four of its students con...

READ ALSO
French Embassy Unveils Waste Management Project Worth €753,000 in Varsities
BY Benedicta Bassey June 14, 2024 0

The French Embassy, via the Cooperation and Cultural Department, has launched a plastic waste manage...

READ ALSO
ATBU Enhances Research Capacity For Lecturers
BY Benedicta Bassey June 14, 2024 0

The management of the Abubakar Tafawa Balewa University, Bauchi, has enhanced research capabilities...

READ ALSO
Russia Dismisses Claim of Recruiting Nigerian Students For Ukranian War
BY Benedicta Bassey June 13, 2024 0

The Russian Embassy in Nigeria has debunked the claims of recruiting African students, particularly...

READ ALSO
Soludo Warns Tinubu Against Accepting Unsustainable Minimum Wage
BY Benedicta Bassey June 13, 2024 0

Anambra State Governor Charles Soludo on Thursday warned President Bola Tinubu against approving &ld...

READ ALSO
Obi Cubana Lauds Burna Boy For Settling Patients' Hospital Bills
BY Ebiakuboere England June 12, 2024 0

Award-winning Nigerian music star Damini Ogulu, also known as Burna Boy, has been praised by million...

READ ALSO
U.S Don Laments Poor State of Education in Nigeria
BY Benedicta Bassey June 12, 2024 0

A Doctorate in Computer Science from the University of the District of Columbia, in Washington, Unit...

OUR CHANNELS:

Tinubu, Ogun leaders champion tech innovation
BY Abiodun Saheed Omodara December 26, 2024 0

The City Boy Movement, Ogun State Chapter, awarded N14m to winners of its technology grant initiativ...


CBN disqualifies 41.65m Access Holdings shares
BY Abiodun Saheed Omodara December 26, 2024 0

The Central Bank of Nigeria has disqualified 41.65 million shares worth N822.60m in Access Holdings...


W’Bank removes loan fees for vulnerable nations
BY Abiodun Saheed Omodara December 26, 2024 0

The World Bank has announced the removal of several loan fees to make borrowing more affordable for...


2025 Budget : Gombe set 10% for debt servicing
BY Abiodun Saheed Omodara December 25, 2024 0

The Gombe State Commissioner for Finance and Economic Development, Gambo Magaji, on Tuesday, reveale...


Tinubu's media chat reveals APC's insensitivity to Nigerians – PDP
BY Abiodun Saheed Omodara December 25, 2024 0

The People’s Democratic Party (PDP), has reacted to President Bola Tinubu’s maiden media...


LASG shut Coca-Cola, two others over water usage standards
BY Abiodun Saheed Omodara December 25, 2024 0

The Lagos State Government, through its Water Regulatory Commission, has sealed three companies for...


Mozambique presidential candidate to form parallel government January 15
BY Abiodun Saheed Omodara December 26, 2024 0

The Mozambique main opposition party presidential candidate, Venâncio Mondlane, has threatened...


Oyo govt. sets conditions for Sharia Court inauguration
BY Abiodun Saheed Omodara December 26, 2024 0

The Governor of Oyo State, Seyi Makinde, has said he’s aware of the move to inaugurate a Shari...


SEC promises transparency, fairness in fintech regulation
BY Abiodun Saheed Omodara December 24, 2024 0

LAGOS, Nigeria - The Securities and Exchange Commission (SEC) has assured stakeholders in the fintec...


No regret removing fuel subsidy- Tinubu
BY Abiodun Saheed Omodara December 24, 2024 0

ABUJA, Nigeria - President Bola Tinubu, on Monday, said he had no regret removing fuel subsidy. The...


More Articles

Load more...

Menu