SandboxAQ, the artificial intelligence and quantum technology company spun off from Google parent Alphabet, expects that large quantitative models (LQMs) will enable the UAE to export its expertise in key sectors worldwide.
The California-based company said biotechnology, finance, energy and logistics are the sectors that would benefit the most from LQMs, and is in the “early stages” of developing customer relationships in the Emirates, Jack Hidary, its chief executive, told The National in Dubai.
The company is financially robust as it strives to start the next wave of the AI revolution, he added.
“There is so much great activity in the UAE and so many companies interested in [LQMs] … when you look at the UAE economy, you can see there certainly is a role [for LQMs] to play, [and] the bigger applications for the UAE are really on the quantitative AI side,” he said in an interview.
LQMs are advanced AI systems that are designed to analyse, process and generate quantitative data rather than natural language, which is the basis for large language models that power generative AI.
For instance, the LQM of SandboxAQ's AQBioSim platform, which aids in drug discovery, is trained on physics-based technology to help produce entirely new molecules from scratch with desired sets of properties, according to its website.
“Word-based AI is trained only on the words of the internet. So if it's not on the internet, it doesn't know it … we produce data in a very different way [like] from actual equations. We don't take any data from the internet, so [LQMs] are a fundamentally different AI,” Mr Hidary said.
Tapping into LQMs will also enable UAE companies to create several intellectual properties, including assets in biotechnology, materials and new energy, boosting the economy and expanding the country's capabilities that would be recognised globally, he said.
“What if the UAE would be its own creator of biotech IP and it would be first approved here, then go to other countries? That would be very positive for the UAE,” Mr Hidary said.
“The IP that is produced out of our software is owned by the customer, so it's an IP-generating machine for them … that can then build up the value of the UAE's exportable assets.”
Governments and enterprises would also be able to save “significant” amounts of time and costs using LQMs, aside from producing better products, he said.
“If you use LQMs to calculate what a new drug might be, you can explore a much bigger potential drug space than humans ever could on their own. So, we could go beyond just human capabilities of physically trying to mix and match drugs or chemicals, and that's really the power of LQMs.”
SandboxAQ raised $500 million in early 2023 – boosting its valuation to about $4 billion, according to industry tracker Pitchbook – to support its quantum tech and cyber security work. The company is not seeking to raise more investments in the foreseeable future and is instead focusing on developing products, attracting customers and building its team, Mr Hidary said.
“We still have most of the money in the bank, [so] not yet. Perhaps that might happen in the future, but not at this time … the use of proceeds has been in investing in the team,” he said.
SandboxAQ was founded in 2016 by Mr Hidary as a moonshot quantum unit at Alphabet while he was a group director at the technology giant. It was then spun off in 2022 and as an independent entity, funded by investors including T Rowe Price, Breyer Capital, Guggenheim Partners, Paladin Capital Group and former Google chief executive Eric Schmidt, who became and remains as SandboxAQ's chairman.
It is focused on the third quantum revolution – the first revolved around nuclear, while the second involved lasers, global positioning systems and transistors used in mobile devices – to deliver “critical advances” in life sciences, financial services, navigation, cyber technology and other sectors, according to its website.
While LLMs have their own key purposes, LQMs, Mr Hidary said, are better suited for the “big, big sectors of the economy”.
“It will be for many more people than LLMs in the business world. From a B2B perspective, it's a much bigger market, probably 50 times as large,” he added.
LQMs are also more robust and resilient than LLMs, he said, providing extra layers of security, which has been a hot topic when it comes to the responsible use of AI.
“LQMs are trained on the equations of reality, the physics, chemistry and biology that we know to be true, and that gives it a tremendous advantage in creating IP, value, medicines and diagnostic machines, which are critical challenges,” Mr Hidary said.
“And some people say, 'maybe we need to halt or pause AI'. I would actually say the opposite when it comes to LQMs, as it is irresponsible not to use AI because it can bring so many positive benefits to humans.”
ONCE UPON A TIME IN GAZA
Starring: Nader Abd Alhay, Majd Eid, Ramzi Maqdisi
Directors: Tarzan and Arab Nasser
Rating: 4.5/5
The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
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A State of Passion
Directors: Carol Mansour and Muna Khalidi
Stars: Dr Ghassan Abu-Sittah
Rating: 4/5
Analysis
Maros Sefcovic is juggling multiple international trade agreement files, but his message was clear when he spoke to The National on Wednesday.
The EU-UAE bilateral trade deal will be finalised soon, he said. It is in everyone’s interests to do so. Both sides want to move quickly and are in alignment. He said the UAE is a very important partner for the EU. It’s full speed ahead - and with some lofty ambitions - on the road to a free trade agreement.
We also talked about US-EU tariffs. He answered that both sides need to talk more and more often, but he is prepared to defend Europe's position and said diplomacy should be a guiding principle through the current moment.
Command%20Z
%3Cp%3E%3Cstrong%3EDirector%3A%C2%A0%3C%2Fstrong%3ESteven%20Soderbergh%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%C2%A0%3C%2Fstrong%3EMichael%20Cera%2C%20Liev%20Schreiber%2C%20Chloe%20Radcliffe%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%C2%A03%2F5%3C%2Fp%3E%0A
Mohammed bin Zayed Majlis
North Pole stats
Distance covered: 160km
Temperature: -40°C
Weight of equipment: 45kg
Altitude (metres above sea level): 0
Terrain: Ice rock
South Pole stats
Distance covered: 130km
Temperature: -50°C
Weight of equipment: 50kg
Altitude (metres above sea level): 3,300
Terrain: Flat ice
MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
The years Ramadan fell in May
Dubai World Cup Carnival card:
6.30pm: Handicap (Turf) | US$175,000 | 2,410 metres
7.05pm: UAE 1000 Guineas Trial Conditions (Dirt) | $100,000 | 1,400m
7.40pm: Handicap (T) | $145,000 | 1,000m
8.15pm: Dubawi Stakes Group 3 (D) | $200,000 | 1,200m
8.50pm: Singspiel Stakes Group 3 (T) | $200,000 | 1,800m
9.25pm: Handicap (T) | $175,000 | 1,400m
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COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3ESmartCrowd%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2018%0D%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3ESiddiq%20Farid%20and%20Musfique%20Ahmed%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%20%2F%20PropTech%0D%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%20%3C%2Fstrong%3E%24650%2C000%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%3C%2Fstrong%3E%2035%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3ESeries%20A%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EVarious%20institutional%20investors%20and%20notable%20angel%20investors%20(500%20MENA%2C%20Shurooq%2C%20Mada%2C%20Seedstar%2C%20Tricap)%3C%2Fp%3E%0A
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THE SPECS
Engine: 1.5-litre
Transmission: 6-speed automatic
Power: 110 horsepower
Torque: 147Nm
Price: From Dh59,700
On sale: now
Closing the loophole on sugary drinks
As The National reported last year, non-fizzy sugared drinks were not covered when the original tax was introduced in 2017. Sports drinks sold in supermarkets were found to contain, on average, 20 grams of sugar per 500ml bottle.
The non-fizzy drink AriZona Iced Tea contains 65 grams of sugar – about 16 teaspoons – per 680ml can. The average can costs about Dh6, which would rise to Dh9.
Drinks such as Starbucks Bottled Mocha Frappuccino contain 31g of sugar in 270ml, while Nescafe Mocha in a can contains 15.6g of sugar in a 240ml can.
Flavoured water, long-life fruit juice concentrates, pre-packaged sweetened coffee drinks fall under the ‘sweetened drink’ category
Not taxed:
Freshly squeezed fruit juices, ground coffee beans, tea leaves and pre-prepared flavoured milkshakes do not come under the ‘sweetened drink’ band.
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US Industrial Market figures, Q1 2017
Vacancy Rate 5.4%
Markets With Positive Absorption 85.7 per cent
New Supply 55 million sq ft
New Supply to Inventory 0.4 per cent
Under Construction 198.2 million sq ft
(Source: Colliers)
Quick%20facts
%3Cul%3E%0A%3Cli%3EStorstockholms%20Lokaltrafik%20(SL)%20offers%20free%20guided%20tours%20of%20art%20in%20the%20metro%20and%20at%20the%20stations%3C%2Fli%3E%0A%3Cli%3EThe%20tours%20are%20free%20of%20charge%3B%20all%20you%20need%20is%20a%20valid%20SL%20ticket%2C%20for%20which%20a%20single%20journey%20(valid%20for%2075%20minutes)%20costs%2039%20Swedish%20krone%20(%243.75)%3C%2Fli%3E%0A%3Cli%3ETravel%20cards%20for%20unlimited%20journeys%20are%20priced%20at%20165%20Swedish%20krone%20for%2024%20hours%3C%2Fli%3E%0A%3Cli%3EAvoid%20rush%20hour%20%E2%80%93%20between%209.30%20am%20and%204.30%20pm%20%E2%80%93%20to%20explore%20the%20artwork%20at%20leisure%3C%2Fli%3E%0A%3C%2Ful%3E%0A
Kill%20Bill%20Volume%201
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What is a Ponzi scheme?
A fraudulent investment operation where the scammer provides fake reports and generates returns for old investors through money paid by new investors, rather than through ligitimate business activities.
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MATCH INFO
Inter Milan 2 (Vecino 65', Barella 83')
Verona 1 (Verre 19' pen)
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Scoreline
Arsenal 3
Aubameyang (28'), Welbeck (38', 81')
Red cards: El Neny (90' 3)
Southampton 2
Long (17'), Austin (73')
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- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Diriyah%20project%20at%20a%20glance
%3Cp%3E-%20Diriyah%E2%80%99s%201.9km%20King%20Salman%20Boulevard%2C%20a%20Parisian%20Champs-Elysees-inspired%20avenue%2C%20is%20scheduled%20for%20completion%20in%202028%0D%3Cbr%3E-%20The%20Royal%20Diriyah%20Opera%20House%20is%20expected%20to%20be%20completed%20in%20four%20years%0D%3Cbr%3E-%20Diriyah%E2%80%99s%20first%20of%2042%20hotels%2C%20the%20Bab%20Samhan%20hotel%2C%20will%20open%20in%20the%20first%20quarter%20of%202024%0D%3Cbr%3E-%20On%20completion%20in%202030%2C%20the%20Diriyah%20project%20is%20forecast%20to%20accommodate%20more%20than%20100%2C000%20people%0D%3Cbr%3E-%20The%20%2463.2%20billion%20Diriyah%20project%20will%20contribute%20%247.2%20billion%20to%20the%20kingdom%E2%80%99s%20GDP%0D%3Cbr%3E-%20It%20will%20create%20more%20than%20178%2C000%20jobs%20and%20aims%20to%20attract%20more%20than%2050%20million%20visits%20a%20year%0D%3Cbr%3E-%20About%202%2C000%20people%20work%20for%20the%20Diriyah%20Company%2C%20with%20more%20than%2086%20per%20cent%20being%20Saudi%20citizens%0D%3C%2Fp%3E%0A
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