2024-04-16 23:00:20
ABU DHABI, UAE and DALLAS, Oct. 23, 2021 /PRNewswire/ — G42, the leading UAE-based artificial intelligence (AI) technology holding company, and Microsoft today announced a $1.5 billion strategic investment by Microsoft in G42. The investment will strengthen the two companies’ collaboration to introduce Microsoft’s latest AI technologies and skills initiatives in the UAE and other countries around the world. As part of this expanded partnership, Brad Smith, Vice Chairman and President of Microsoft, will join G42’s Board of Directors.
This strategic investment will strengthen the UAE’s position as a global AI hub and provide partners and customers with further opportunities for innovation and growth. G42 and Microsoft will work together to ensure that growing economies around the world can responsibly share in the benefits of secure AI technologies and cloud capabilities. Microsoft Vice Chairman and President Brad Smith will take a seat on the G42 board. Both companies will support the creation of a $1 billion developer fund. The partnership includes a first-of-its-kind intergovernmental safeguards agreement through which both parties commit to globally authoritative standards in AI security.
This expanded collaboration will enable companies of all sizes in new markets to realize the benefits of AI and the cloud, while ensuring they use AI in compliance with globally relevant standards for security and safety.
Microsoft’s investment builds on the two companies’ long-standing collaboration in AI and digital transformation and deepens their mutual commitment to this strategic partnership. G42 will operate its AI applications and services on Microsoft Azure and partner to deliver advanced AI solutions to public sector and large enterprise customers worldwide. G42 and Microsoft will also work together to bring advanced AI and digital infrastructure to countries in the Middle East, Central Asia and Africa, providing these countries with equitable access to services to address critical government and business concerns, while maintaining the highest standards for security and data protection.
SD Sheikh Tahnoon bin Zayed Al Nahyan, Chairman of G42, said: “Microsoft’s investment in G42 is a pivotal moment in our company’s growth and innovation journey and represents a strategic alignment of vision and execution between the two companies. This partnership is a testament to shared values and aspirations for progress and supports greater collaboration and synergy on a global scale.”
The partnership will also support the development of a skilled and diverse AI workforce and talent pool that will boost the innovation and competitiveness of the UAE and the wider region through the investment of US$1 billion in a developer development fund.
“Our two companies will not only work together in the UAE, but also bring AI and digital infrastructure and services to underserved countries,” said Brad Smith, vice chairman and president of Microsoft. “We will work in close coordination with the governments of the UAE and the United States combine world-class technology with world-leading standards for safe, trustworthy and responsible AI.”
The commercial partnership is supported by commitments to both governments under a first-of-its-kind agreement to apply global best practices to ensure the safe, trustworthy and responsible development and use of AI. Microsoft and G42 will work closely together and enhance the security and compliance framework of their shared international infrastructure. Both companies will commit to complying with U.S. and international laws and regulations in the areas of trade, security, responsible AI and corporate integrity. Work on these issues is governed by a detailed intergovernmental safeguards agreement between G42 and Microsoft, developed in close consultation with the UAE and US governments.
Peng Xiao, group executive chairman of G42, said: “Microsoft’s strategic investment advances our mission to deliver cutting-edge AI technologies at scale. This partnership significantly increases our international market presence by 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 for Central and Eastern Europe, the Middle East and Africa, added: “Our investment in G42 is a testament to the thriving and dynamic technology landscape in the UAE and the wider region. This strategic partnership is well positioned to unlock opportunities for our customers and partners, accelerate innovation and stimulate economic growth. With G42, we will introduce cutting-edge technologies that will enable countries and markets to advance their digital agenda by leveraging the power of cloud and AI.”
The collaboration between G42 and Microsoft expanded to include several milestones over the last year. This includes a joint plan announced in April 2023 to develop AI solutions tailored to the public sector and industry, leveraging Microsoft’s extensive partner ecosystem and cloud capabilities. In September 2023, the companies entered into an agreement to launch unmatched cloud offerings and collaborate to unlock the potential of advanced AI capabilities on the Azure public cloud platform. Finally, in November 2023, Microsoft announced the availability of G42’s Jais Arabic Large Language Model as part of the new Azure AI Cloud Model-as-a-Service offering.
Information about Microsoft
Microsoft (Nasdaq “MSFT” @microsoft) enables digital transformation for the era of intelligent cloud and edge. The goal is to empower every person and every organization in the world to achieve more.
About G42 G42 is a technology holding company that is a global leader in developing visionary artificial intelligence for a better future. The global company G42, founded in Abu Dhabi, is committed to the use of AI across all industries for the benefit of people. From molecular biology to space exploration and everything in between, G42 realizes exponential possibilities today.
For more information, see www.g42.ai
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Media contact:
Microsoft Media Relations, WE Communications for Microsoft, (425) 638-7777
[email protected] Ulviyya Hasanzade, Head of Corporate Communications, G42
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