AI News

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13 Jul 202628 Muharram 1448 AH

Saudi Ministry launches AI national economic data tool

The Ministry of Economy and Planning in Saudi Arabia has launched a beta version of INSAIGHTS, an AI tool integrated into the Data Saudi platform, enabling users to convert plain-language questions into instant analyses based on over 7,500 economic and social indicators. The tool is designed for decision-makers, researchers, analysts, and the general public, supporting Saudi Vision 2030's goal of enhancing transparency in the national economy. The ministry plans to expand the tool's capabilities in the coming months.

Infrastructure

13 Jul 202628 Muharram 1448 AH

TSMC Reports Record Revenue Surge Driven by AI Demand

TSMC announced a record revenue surge of 36% year-over-year for Q2, reaching NT$1.27 trillion, driven by soaring demand for generative AI applications. This performance exceeded global market expectations, showcasing the company's robust position in the semiconductor industry. To enhance its production capabilities, TSMC will add two new advanced packaging facilities at the Chia Yi Science Park, aimed at addressing the global supply shortage. These facilities are projected to generate an annual output value exceeding NT$300 billion and create over 9,000 quality jobs once fully operational.

Infrastructure

13 Jul 202628 Muharram 1448 AH

$China’s optical chip breakthrough boosts AI speed 100-fold using fraction of compute power$

China’s optical chip breakthrough boosts AI speed 100-fold using fraction of compute power

Chinese researchers have developed a new all-optical interconnect system that links standard electronic chips, enhancing AI inference speeds by over 100 times. This system utilizes only one-ninth of the typical computational resources, marking a significant achievement in the field. This development comes amid rising demand for computational power as AI models permeate various applications. Instead of relying on more GPUs and building larger data centers, this innovative system offers a more efficient energy solution, achieving higher performance with less resource consumption.

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US opens licence free AI chips for UAE

How might these developments shape the future of AI in the region?

Models

Apple’s failed self-driving car program left a legacy of powerful AI chips

12 Jul 202627 Muharram 1448 AH

Models

12 Jul 202627 Muharram 1448 AH

Apple’s failed self-driving car program left a legacy of powerful AI chips

Apple's self-driving car program did not achieve significant success, but it contributed to the development of its powerful chips. During the platform's development, Apple recognized the need for robust on-device AI processing, leading to the creation of the Neural Engine. This engine debuted with the iPhone X and the A11 Bionic, primarily used for applications like FaceID and Animoji.

Arab AI Scene

Jordan fund invests $5 million in STV

12 Jul 202627 Muharram 1448 AH

Arab AI Scene

12 Jul 202627 Muharram 1448 AH

Jordan fund invests $5 million in STV

The Innovative Start-ups and SMEs Fund (ISSF) in Jordan has agreed to invest $5 million in a Google-backed AI fund managed by Saudi Technology Ventures (STV). The agreement, signed in Amman last week, aims to create an investment corridor between Jordan and Saudi Arabia. Established in 2017 with a capital of $98 million, ISSF seeks to channel Gulf investments into Jordan's tech sector. STV, the largest technology investment firm in the Middle East, will directly invest in Jordanian AI start-ups in return for the funding.

Business

UAE opens third edition of National AI Award

12 Jul 202627 Muharram 1448 AH

Business

12 Jul 202627 Muharram 1448 AH

UAE opens third edition of National AI Award

The UAE Council for Artificial Intelligence and Blockchain has opened registration for the third edition of the UAE AI Award, focusing on Agentic AI. The award features five categories, including government services, homegrown solutions, and public-private partnerships, aiming to support the UAE's goal of integrating Agentic AI into 50% of government sectors.

Agents

Claude Code now has a built-in browser that lets the AI read, click, and type on external websites

12 Jul 202627 Muharram 1448 AH

Agents

12 Jul 202627 Muharram 1448 AH

Claude Code now has a built-in browser that lets the AI read, click, and type on external websites

Claude Code has announced the addition of a built-in browser that allows the AI to open, read, and interact with web pages directly within the development environment. Actions performed on external sites are screened by classifiers, ensuring secure usage. User approval is required for account creation or purchases, enhancing control and privacy. This feature marks a significant advancement in AI, enabling direct interaction with online content, which facilitates information access and provides more accurate responses. This move reflects a trend towards integrating AI into daily operations more effectively.

Business

Tata Consultancy Services to Boost AI Team with 8,900 Engineers

12 Jul 202627 Muharram 1448 AH

Business

12 Jul 202627 Muharram 1448 AH

Tata Consultancy Services to Boost AI Team with 8,900 Engineers

Tata Consultancy Services plans to form a team of up to 8,900 engineers working directly with clients to accelerate AI adoption. The company aims for these engineers to represent 1% to 1.5% of its total workforce, focusing on adapting AI solutions to business needs. Additionally, TCS is considering acquisitions in AI and data security, positioning itself against competitors like OpenAI and Microsoft.

Business

S&P Global sees OpenAI as a "key credit risk" for Oracle and cuts its credit rating

12 Jul 202627 Muharram 1448 AH

Business

12 Jul 202627 Muharram 1448 AH

S&P Global sees OpenAI as a "key credit risk" for Oracle and cuts its credit rating

S&P Global has downgraded Oracle's credit rating to "BBB-", just one notch above junk status. OpenAI constitutes about half of Oracle's $638 billion in contractual obligations. If OpenAI were to withdraw, Oracle would face significant challenges in utilizing its data center capacity. S&P Global views OpenAI as a "key credit risk" for Oracle, prompting this downgrade. Oracle's credit rating heavily relies on its partnership with OpenAI, which represents a substantial portion of its financial commitments. Any changes in this partnership could have severe repercussions for Oracle.