UAE announces $1B AI initiative in Africa

[Pixel Artificial Intelligence]
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The United Arab Emirates on Saturday announced the 'AI for Development' initiative to expand artificial intelligence infrastructure and AI-enabled services in Africa at a $1B investment to boost economic and social development in the region.

Crown Prince of Abu Dhabi, Sheikh Khaled Bin Mohamed Bin Zayed Al Nahyan, unveiled the program at the Group of 20 summit in Johannesburg on Saturday, reaffirming the UAE’s commitment to drive sustainable growth and provide innovative financing solutions in emerging economies.

Abu Dhabi Exports Office (ADEX), part of the Abu Dhabi Fund for Development, will implement the project in partnership with the UAE Foreign Aid Agency, aiming to integrate AI technologies into key sectors such as education, agriculture, and infrastructure.

“Integrating AI technologies into the education, agriculture, and infrastructure sectors opens new horizons for inclusive development,” said Mohamed Saif Al Suwaidi, Director-General of the Abu Dhabi Fund for Development and Chairman of the Exports Executive Committee of ADEX.

“Through this initiative, we aim to empower UAE enterprises to implement pioneering, high-impact development projects that strengthen economic and technological cooperation [https://www.wam.ae/en/article/bmugjqs-uae-launches-us1-billion-ai-for-development] between the UAE and African countries, while supporting the achievement of global sustainable development goals.”

Exchange-traded funds linked to AI and robotics: (AIQ [https://seekingalpha.com/symbol/AIQ]), (BOTZ [https://seekingalpha.com/symbol/BOTZ]), (DTEC [https://seekingalpha.com/symbol/DTEC]), (WTAI [https://seekingalpha.com/symbol/WTAI]), (XAIX [https://seekingalpha.com/symbol/XAIX]), (WISE [https://seekingalpha.com/symbol/WISE]), (GINN [https://seekingalpha.com/symbol/GINN]), (ROBT [https://seekingalpha.com/symbol/ROBT]), (TECB [https://seekingalpha.com/symbol/TECB]), (XT [https://seekingalpha.com/symbol/XT]), (THNQ [https://seekingalpha.com/symbol/THNQ]), and (CHAT [https://seekingalpha.com/symbol/CHAT]).

UAE-linked ETFs: (UAE [https://seekingalpha.com/symbol/UAE]), (SDEM [https://seekingalpha.com/symbol/SDEM]), and (DVYE [https://seekingalpha.com/symbol/DVYE]).

Africa ETFs include (EZA [https://seekingalpha.com/symbol/EZA]) and (AFK [https://seekingalpha.com/symbol/AFK]).

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