UAE sovereign wealth fund ADIA to launch new data research center

The Abu Dhabi Investment Authority (ADIA), the largest sovereign wealth funds in the United Arab Emirates (United Arab Emirates), plans to open a Data research center, independent entity within the funds with goals no uniquely related to investment requests.

ADIA Laboratory will be formally launch on December 2 and is part of movements across government to promote digitization and advanced technology applications. It will be led by Horst Simon as director, who was previously at Berkeley Laboratory and the US Department of Energy.

The laboratoryit is launch will bring together world experts in the Data and computer science fields “while helping to embed a science mindset throughout its organization”, ADIAestimated by Global SWF to manage $829 billion in assets, said in a statement.

Research applications will focus on areas such as climate change and energy transition, blockchain technology, financial inclusion and investment, and cybersecurity, among others.

The United Arab Emirates tries to diversify its economy away from hydrocarbons and invest in increasing the contribution of digital innovation and advanced technologies to overall economic growth. It also seeks to attract highly qualified professionals globally in these and other fields. Data science-based sectors.

Reuters

Sean N. Ayres