UAE Non-Oil Business Activity Surges to Nine-Month High in December

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 The United Arab Emirates' non-oil private sector recorded its fastest expansion in nine months in December 2024, buoyed by strong domestic demand and increased business activity, according to the latest S&P Global Purchasing Managers’ Index (PMI) report. PMI Highlights Robust Growth The seasonally adjusted UAE PMI climbed to 55.4 in December from 54.2 in November, signaling robust growth well above the 50.0 threshold that separates expansion from contraction. This marked the third consecutive monthly increase, underscoring sustained recovery in the non-oil sector. Key drivers of growth included a notable rise in new business activity. The new orders subindex rose sharply to 59.3 in December from 58.0 in the previous month, reflecting strong domestic demand. Challenges Amid the Growth While domestic demand flourished, export growth slowed, with the export orders subindex dropping to a seven-month low. Additionally, businesses faced mounting backlogs due to capacity constraints,...
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Abu Dhabi's Technology Innovation Institute Unveils Open-Source AI Model 'Falcon 40B'

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Abu Dhabi

Abu Dhabi's Technology Innovation Institute (TII) has made waves in the field of artificial intelligence (AI) with the announcement of the open-source release of "Falcon 40B," the UAE's first large-scale AI model. This pioneering move underlines Abu Dhabi's commitment to fostering collaboration and driving advancements in generative AI.

With the release of 'Falcon 40B' as an open-source model, the Technology Innovation Institute aims to empower researchers and businesses worldwide to leverage the power of AI for research and commercial purposes. By democratizing access to this state-of-the-art AI model, Abu Dhabi is catalyzing innovation and fueling transformative solutions across industries.

The decision to make 'Falcon 40B' open source showcases Abu Dhabi's progressive approach to AI research and development. By encouraging knowledge sharing and collaboration, the Technology Innovation Institute reinforces its role as a global scientific research center and solidifies Abu Dhabi's position as an AI innovation hub.

The open-source release of 'Falcon 40B' represents a major milestone in Abu Dhabi's AI journey. Researchers and AI enthusiasts can now explore and harness the capabilities of this large-scale AI model, driving advancements in AI-driven applications such as natural language processing, computer vision, and data analysis.

Abu Dhabi's commitment to AI innovation goes beyond just technological advancements. By fostering a culture of openness and collaboration, the UAE capital aims to position itself as a global leader in AI research and development. The open-source release of 'Falcon 40B' aligns with Abu Dhabi's vision to drive economic growth, create sustainable solutions, and harness the transformative potential of AI.

As the world witnesses the positive impact of AI on various sectors, Abu Dhabi's Technology Innovation Institute stands at the forefront of AI research and development. By embracing an open-source approach and making 'Falcon 40B' accessible to researchers and businesses, Abu Dhabi propels the AI revolution, driving progress and shaping a future where AI-driven solutions have a profound impact on society.

In conclusion, the release of 'Falcon 40B' as an open-source AI model by the Technology Innovation Institute marks a significant milestone in Abu Dhabi's AI landscape. This move demonstrates the UAE's commitment to collaboration, knowledge sharing, and advancing the frontiers of AI. With Abu Dhabi's continued focus on AI innovation, the possibilities for transformative solutions and technological breakthroughs are endless.

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