H.H. Sheikh Tahnoon bin Zayed Al Nahyan, Deputy Ruler of Abu Dhabi and Chairman of the Board of Directors of MGX, on Monday chaired the inaugural board meeting of MGX.

During the meeting, His Highness stressed that the purpose of establishing MGX, a UAE national champion focused on AI and advanced technologies, is to support shaping a future where technology enables a more prosperous, sustainable and interconnected world.

During the meeting, the Board approved several governance and financial matters critical to the company’s forward momentum.

Ahmed Yahia Al Idrissi, CEO of MGX, said, “Under the guidance and vision of H.H. Sheikh Tahnoon bin Zayed, MGX begins today its journey to create an AI-focused investment powerhouse for Abu Dhabi, partnering with the world’s leading AI companies to create the next wave of technology breakthroughs.”

The company focuses on enabling the advancement and deployment of leading edge technologies intended to improve the lives of current and future generations.

The Board meeting was attended by MGX Vice-Chair Khaldoon Khalifa Al Mubarak, as well as Jassem Mohamed Bu Ataba Al Zaabi, Peng Xiao and Ahmed Yahia Al Idrissi.

The Artificial Intelligence and Advanced Technology Council (AIATC) announced the establishment of MGX in March 2024 through a partnership between Mubadala and G42.

The council, established in January 2024, chaired by Sheikh Tahnoon, is responsible for developing and implementing policies and strategies related to research, infrastructure, and investments in artificial intelligence and advanced technology in Abu Dhabi. It will develop plans and research programmes in collaboration with local and global partners to enhance Abu Dhabi’s status in the fields of artificial intelligence and advanced technology.