Abu Dhabi’s International Holding Co. is enhancing its board with an AI-powered observer, a step aimed at aiding human board members in making more informed strategic choices, according to the $238 billion company. This virtual entity, named Aiden Insight, will assume an observer role on IHC’s board, the largest publicly traded company in the United Arab Emirates. Aiden will have the capability to continually analyze extensive business data, financial records, market dynamics, and worldwide economic trends, as stated by IHC.
Supported by Emirati AI company G42 and Microsoft Corp., the unconventional initiative marks a significant step in Abu Dhabi’s advancement in AI technology. The UAE is striving to establish itself as a global leader in the testing and regulation of AI, a goal reiterated by a minister to Bloomberg earlier this month, echoing sentiments expressed by OpenAI CEO Sam Altman.
G42 has been a prominent player in the UAE’s AI endeavors, including partnerships with OpenAI, the developer of ChatGPT, which is expanding its presence in the UAE and the wider region through collaboration with the Gulf firm. Bloomberg reported last year that OpenAI has engaged in discussions with G42 regarding funding for a new chip venture.
IHC has also been actively involved in the sector, forming a joint venture with India’s Adani Group to explore artificial intelligence and other technologies. Both G42 and IHC are integral parts of a $1.5 trillion conglomerate overseen by Sheikh Tahnoon bin Zayed Al Nahyan, the UAE’s national security adviser and brother of the country’s president.
Aiden Insight, as stated in a Monday announcement, will undertake responsibilities such as risk assessment and compliance monitoring. It will participate in IHC board meetings as a non-voting observer.
While IHC’s adoption of AI is notable, it’s not the only company to leverage such technology. Deep Knowledge Ventures in Hong Kong utilized an algorithm named VITAL, which a managing partner claimed facilitated the board in making more rational decisions.
