Abu Dhabi Abu Dhabi Startup News

In a recent remarkable development, the Falcon 40B parameter Large Language Model (LLM) has clinched the top spot on the coveted Open LLM Leaderboard. An accomplishment made more extraordinary by the fact that this is the first open model developed by the team behind Falcon 40B, making a significant statement in the field of AI. The Open LLM Leaderboard, hosted by 🤗 Hugging Face, is a notable platform that ranks and evaluates LLMs and chatbots based on their performance in different evaluation tasks.

In a significant development in the field of artificial intelligence (AI), the emirate of Abu Dhabi, the capital of the United Arab Emirates (UAE), has announced the open-source availability of its large-scale AI model, Falcon 40B. This step positions the UAE as a global frontrunner, being among the first nations to make a large language model freely available for both research and commercial use. The announcement came from the Advanced Technology Research Council (ATRC), the government body spearheading technological innovation in the emirate.

Dubai’s Virtual Asset Regulatory Authority (VARA) recently awarded BitOasis, the region’s leading cryptocurrency trading platform, with an unprecedented MVP Operational Licence. This monumental approval enables BitOasis to offer broker-dealer services from its Dubai base, while fulfilling all the regulatory obligations of VARA’s regime. In doing so, BitOasis becomes the first crypto trading platform to achieve this distinct milestone within the VARA framework. Founded in 2015, BitOasis has been a trailblazer in the crypto space, empowering users in the GCC and MENA regions with the ability to transact in over 60 tokens using fiat currencies such as AED, SAR, TL, and USD.