The largest company in the UAE is incorporating an AI-powered observer supported by Microsoft onto its board.
Abu Dhabi’s International Holding Co. (IHC) is introducing an AI-powered observer to its board, a strategic move aimed at enhancing the decision-making process of its human board members. The virtual entity, named Aiden Insight, will assume an observer role on the board of IHC, the largest publicly listed firm in the United Arab Emirates. Aiden will possess the capability to continuously analyze decades of business data, financial information, market trends, and global economic indicators in real time, as highlighted in a statement by IHC.
This innovative initiative, supported by Emirati AI company G42 and Microsoft Corp., underscores Abu Dhabi’s commitment to advancing AI technology. The UAE is actively positioning itself as a global hub for AI testing and regulation, aligning with statements made by OpenAI Chief Executive Officer Sam Altman in recent discussions with Bloomberg.
G42 has been instrumental in driving the UAE’s AI initiatives, with notable partnerships including OpenAI, the creator of ChatGPT. Collaborations between G42 and OpenAI extend to potential funding discussions for a new chip venture, as reported by Bloomberg last year.
Similarly, IHC has been actively venturing into the AI sector, forming a joint venture with India’s Adani Group to explore artificial intelligence and other emerging technologies. Both G42 and IHC are integral components of a vast conglomerate valued at $1.5 trillion, overseen by Sheikh Tahnoon bin Zayed Al Nahyan, the UAE’s national security adviser and brother to the country’s president.
Aiden Insight’s responsibilities will encompass risk assessment and compliance monitoring, serving as a non-voting observer during IHC board meetings.
While IHC is among the pioneering companies integrating AI into its governance structure, other firms, such as Hong Kong’s Deep Knowledge Ventures, have also leveraged AI algorithms to facilitate more data-driven decision-making processes.
