The $238 billion Abu Dhabi International Holding (IHC) adds an AI-powered observer to its board. This it said will help human board members make better decisions. Called Aiden Insight, the AI will take an observer’s seat on the board. International Holding is the largest firm in the UAE.
According to reports this observer will be able to process and instantly analyse decades of business data, market trends, global economic indicators, and financial information. Backed by G42 and Microsoft, this initiative pushes UAE’s focus into AI, where the region aiming to become a testing and regulating AI hub.
The AI’s role will include compliance monitoring and risk assessment, and it will attend IHC board meetings, as a non-voting observer. For some time now G42 has been at the fore of the region’s AI efforts, it has also partnered with OpenAI, the creator of ChatGPT to expand, for the company to open in UAE and the broader region. OpenAI is said to have discussed with G42 to raise funding for a new chip venture.
IHC has also formed a joint venture with India’s Adani Group to explore AI and other technologies. IHC and G42 are part of a whopping $1.5 trillion empire controlled by His Royal Highness Sheikh Tahnoon bin Zayed Al Nahyan — the UAE’s national security adviser and brother to the country’s president.
Apart from IHC, Hong Kong’s Deep Knowledge ventures has used an algorithm VITAL that is said to have helped the board make logical decisions.
