Connect with us

Hi, what are you looking for?

Economy

UAE President Sheikh Mohamed bin Zayed Forms AI Council to Shape Future Technologies

Source: Pexels

In another pro-tech initiative, the United Arab Emirates (UAE) President Sheikh Mohamed bin Zayed Al Nahyan has announced the creation of an Artificial Intelligence and Advanced Technology Council (AIATC).

In his capacity as Ruler of Abu Dhabi, the UAE President has issued a law establishing the Artificial Intelligence and Advanced Technology Council, Chaired by Tahnoun bin Zayed, with Khaled bin Mohamed bin Zayed as Vice Chairman. pic.twitter.com/S97fTPOQVl

— مكتب أبوظبي الإعلامي (@ADMediaOffice) January 22, 2024

The Ruler of Abu Dhabi made this announcement through a press release on January 22, unveiling new legislation for the formation of the AIATC.

As part of its jurisdictional duties, the AIATC arm would be focused on developing and implementing policies and strategies related to research, infrastructure, as well as investments in AI-related endeavors and advanced technology in Abu Dhabi.

Besides creating frameworks for properly unlocking these new technologies, the Artificial Intelligence and Advanced Technology Council would partner with local and global bodies to improve Abu Dhabi’s global stature in both fields.

This initiative aligns with the President’s vision to position the Middle Eastern nation as a world-leading hub for investments, partnerships, and talents in the sector.

Heading this newly formed group will be His Highness Sheikh Tahnoun bin Zayed Al Nahyan, who will serve as the Chairman, as outlined in the President’s resolution. His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan will serve as the Vice Chairman.

To ensure the council’s success, His Excellency Khaldoon Khalifa Al Mubarak, His Excellency Jassem Mohamed Bu Ataba Al Zaabi, and Mr. Peng Xiao, CEO of G42, will serve as members of this advanced technology initiative.

The UAE has already kickstarted its journey to become a major hub for future technology.

During a CNN International Show covering the World Economic Forum (WEF24) event in Davos, Switzerland, Xiao emphasized the importance of countries having an AI strategy.

According to Xiao, companies and nations without an AI strategy risk becoming “lost” as the technology continues to gain mainstream adoption in the coming years.

According to Xiao, companies and nations without an AI strategy will become “lost” as the technology continues to gain mainstream adoption as the years go by.

“If you’re a company … if you’re a government, nation, state, and you don’t have an Ai strategy, you’re lost !”

Well said by UAE’s G42 CEO Peng Xiao to @BeckyCNN at #wef24 #Davos2024 pic.twitter.com/NMUgWv3B7G

— حسن سجواني Hassan Sajwani (@HSajwanization) January 16, 2024

Xiao explained his submission is based on the fact that AI is the “single, most important modern invention” and is rapidly gaining momentum.

UAE Seizing Initiative in Crypto


Besides being a major hub for tourism, the UAE has been intentional in its commitment to becoming a force in all new technologies. This is exemplified in the creation of the Emirates Blockchain Strategy in 2018, which focuses on advancing blockchain adoption globally and drawing startups to the Middle Eastern country.

In addition, the initiative was said to be a cost-effective measure in helping the government’s documentation circulation needs.

According to the press release, adopting blockchain technology can systematically save the UAE as much as AED 11 billion (nearly $3 billion) annually.

The futuristic UAE government has continued in this space as it has partnered with some of the top distributed ledger technology (DLT) businesses to achieve its aim.

The news is finally out: #IOTA is the first licensed and regulated DLT Foundation in Abu Dhabi, UAE

With a new headquarter in the UAE, we are positioning IOTA from being an Enterprise Blockchain in Europe, to becoming one of the largest, global Crypto ecosystems. We will… pic.twitter.com/v7Z8BJysdq

— Dominik Schiener (@DomSchiener) November 29, 2023

One such is the IOTA DLT Foundation, which received a license from the Middle East government late last year.

The post UAE President Sheikh Mohamed bin Zayed Forms AI Council to Shape Future Technologies appeared first on Cryptonews.

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Economy

The Pepe (PEPE) price pumped up 30% on Monday, with investors flooding back into the meme coin amid a surge in risk-taking activity across...

Economy

OTC crypto crime appears to be on the rise in South Korea, where police say they have arrested a “multinational gang” who allegedly locked...

Economy

The newly launched nine Bitcoin exchange-traded funds (ETFs) in the U.S. have broken an all-time daily record in volume, taking in $2.4 billion which...

Economy

The price of the leading cryptocurrency Bitcoin rallied over 10% to soar above $57,000 for the first time since November 2021. The price rally...

Economy

The U.S. Republican senators have introduced a bill aiming to ban Federal Reserve-backed central bank digital currency (CBDC). As reported by The Hill, this...

Economy

The Financial Stability Board (FSB) will deliver reports on asset tokenization and AI later in 2024, according to Chair Klaas Knot. FSB Chair @KlaasKnot...

You May Also Like

Financial Advisors

[#item_full_content]

Financial Advisors

[#item_full_content]

Financial Advisors

The humongous outbreak of the dreaded coronavirus has brought about a groundbreaking change in what the world perceived as ‘normal’. With an estimated 280,391,189...

Disclaimer: Respect Investment.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2024 Respect Investment. All Rights Reserved.