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OurCrowd partners for $100m UAE fund; Oxford, KAU JV for AI drugs

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Good morning, Here’s your weekly Middle East AI News! A few major partnership announcements made this
 

Middle East AI News

October 8 · Issue #36 · View online
Middle East AI News is a weekly news digest covering artificial intelligence news from across the region.

Good morning,
Here’s your weekly Middle East AI News!
A few major partnership announcements made this week.
Firstly, Oxford University and King AbdulAziz University have agreed to create a joint global Centre for AI in Precision Medicines, which will use AI for drug discovery. The deal will see R&D in both universities, plus Saudi students attend Oxford.
There is also the new joint venture investment company Phoenix Capital and its first $100 million VC fund, backed by Israel’s OurCrowd and Abdullah Saeed Al Naboodah. The fund will offer UAE investors access to OurCrowd’s portfolio of Israeli startups.
Meanwhile, ADNOC and Group 42 officially announced their new joint venture company AIQ yesterday. A new venture that will develop commercial AI solutions for the oil and gas industry. Plans for the venture were originally announced last year.
Stay safe & have a great weekend!
/Carrington

Venture Capital
Israel's OurCrowd and UAE's Al Naboodah create $100m fund for Gulf tech investors Israel's OurCrowd and UAE's Al Naboodah create $100m fund for Gulf tech investors
Dr. Sabah Al-Binali koins OurCrowd as UAE-based venture partner & head of Gulf region
R&D
New partnership with King Abdulaziz University aims to revolutionise drug discovery using AI
ADNOC, Abu Dhabi-based Group 42 launch 'AIQ', AI joint venture company
Ericsson's AI & Analytics Hub in Egypt achieves software milestone
Education
Samsung launches online programme to train UAE youth in AI and machine learning
Health
How AI can help employees improve mental health and wellbeing
Smart Cities
The UAE adopts holistic urban mobility approach
RTA starts installing smart screens to display real-time updates of public buses
AI Policy
UAE a pioneer of employing AI to build knowledge-based economy: Omar Al Olama
AI Diplomacy
Egypt, France discuss joint cooperation on AI, entrepreneurship
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About Carrington Malin
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