The Abu Dhabi Investment Authority (Adia), the emirate's sovereign wealth fund, plans to launch an independent centre for basic and applied research in data and computational sciences.
The move is expected to boost research and development in the UAE.
The Adia Lab will officially be launched in Abu Dhabi on December 2, 2022, the UAE's 51st National Day, Adia said on Tuesday.
It is expected to play a proactive role in contributing to the continued development of Abu Dhabi’s digital ecosystem, with a focus on projects that could lead to the creation of start-ups.
The centre will operate as stand-alone entity, with broad research goals that are not specific to investment-related applications, Adia said.
It will explore the latest trends and technology in data and computational sciences across all major fields of study, Adia said.
Horst Simon has been appointed as director of Adia Lab. Mr Simon was formerly with the Lawrence Berkeley National Laboratory, where he served for more than 10 years as deputy lab director for research and chief research officer.
The lab will appoint an advisory board made up of global thought leaders from various data and computationally intensive scientific disciplines, Adia said.
The board will be responsible for overseeing the development and carrying out of the lab's research agenda and programmes.
The scope of study includes research in data science, artificial intelligence, machine learning, and high-performance and quantum computing.
Adia Lab will also explore the application of research in areas such as climate change and energy transition, blockchain technology, financial inclusion and investing, decision making, automation, cyber security, health sciences, education, telecoms and space, Adia said.
The lab will enter into partnerships with global institutions to design educational programmes, sponsor research projects and fund reproducible research, offer fellowships and internships, host seminars, as well as run competitions and best paper awards.
Established in 1976, Adia, which invests on behalf of the Abu Dhabi government, makes direct and indirect investments across asset classes, including equities, fixed income, infrastructure, private equity and real estate.
The launch of Adia Lab is expected to provide Adia with the opportunity to connect and collaborate with global experts in the data and computational science community, while helping to embed a scientific mindset throughout its organisation, Adia said.
As part of the project, Adia will offer its employees the opportunity to attend seminars and academic programmes and conduct joint research projects at Adia Lab.