With Artificial Intelligence (AI) technology leading the global fintech conversation, the United Arab Emirates is looking forward to becoming the testing ground for the worldwide development of the technology.
According to a statement by the Minister of State for Artificial Intelligence, Omar Alama, the government is urging companies of the private sector to work together on understanding and promoting the technology’s use, thus, transforming the country to become the world’s leading AI hub.
The statements came in the light of the launch of the government’s latest initiative “Think AI”, with accountancy and consulting firm Ernst & Young on Wednesday. Furthermore, Mr. Alama has pointed out that the initiative is part of a wider national plan to implement AI across all parts of society, starting with the introduction of workshops and panel talks that will bring together more than 100 experts in the field.
In addition, a long-term vision for supporting AI expansion with the necessary infrastructure has been put in place. When addressed with worries about the job loss that comes with automation, Minister Alam pointed out that an insightful feasibility study has been prepared to further understand the technology’s impact on society.
Depending on the sector and how integral it is to the livelihood of citizens, the government is going to either accelerate or decelerate the implementation of initiatives, incentives, and legislation policies.
“The biggest challenge today for artificial intelligence is policies and legislation. The legal framework is not ready and the only people who understand this very well is the private sector,” Alam said enthusiastically.
He continued, “Globally, there is no government that is sitting with them and telling them, use us as a test bed, use us as a sandbox and come, deploy on the ground here, come and work with us and we will also support you.”
According to computer science experts, AI has been making our lives better ever since its implementation, and the growth of such technology means a better quality of life and reduced costs in different services.
“Harnessing the power of AI will be a game-changer for both governments and businesses alike,” said Wasim Khan, Ernst & Young’s Advisory Leader for the MENA region
It is not Minister Alam’s vision alone; other government officials are resorting to technology to solve problems, with Sheikh Mohammad bin Rashed, Vice President and Emir of Dubai announcing AED 1.5 billion to be invested in robotics, AI, health, and environment.