The UAE has signed a partnership with India to develop artificial intelligence (AI) with plans to generate an $20bn in economic benefits during the next decade.
The Memorandum of Understanding (MoU) for the India – UAE Artificial Intelligence Bridge will “spur discussion and explore options for both countries to grow their AI economies”, a statement said.
AI is expected to maximise the efficiency and delivery of government services while also boosting the effectiveness of the private sector.
The UAE-India collaboration will seek to evaluate the dynamic nature of AI by convening a joint working committee between the UAE Ministry for Artificial Intelligence, Invest India and Startup India.
The committee will meet once a year with the mandate to increase investment in AI startups and research activities in partnership with the private sector.
The collaboration will broadly focus on three main areas, the statement added. They include –
– Open Engagement: The working committee will monitor the landscape of AI to identify emerging trends and policy concerns. This will help develop “mutually favourable regulatory frameworks and policies without being outpaced by the speed of technological developments”, the statement said.
There is potential to work together with governments, technology startups, academia and industry associations to understand how technology is evolving, what it means for the private and public sector, and how its adoption can be accelerated.
– Foster Innovative Ecosystems: Creating an enabling environment requires all concerned stakeholders to invest in AI. Initially this will entail creating AI regulatory sandboxes and the sharing of regulatory expertise to facilitate the entry of AI startups into each other’s jurisdiction.
“Once the environment is set, the tools will be made available and that will come in the form of sharing datasets to enhance development and innovation of AI startups,” the statement said.
– Looking to The Future: The collaboration will help both parties play a catalytic role in the development and adoption of breakthrough technologies. Research and development and investment in new technologies, tools and solutions in a controlled regulatory sandbox environment will be facilitated. This will allow stakeholders to engage and understand transformative tech.
Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai said: “Artificial Intelligence will lead human development in the coming years. The UAE and India will be at the forefront of the change to come.”
Indian Prime Minister Narendra Modi added that the Indian government is launching multiple initiatives through which the potential of AI can be realised in the areas of agriculture supply, healthcare and disaster management services.
“The road ahead for artificial intelligence depends on and will be driven by human intentions,” he added.