In another pro-technology initiative, UAE President Sheikh Mohammed bin Zayed Al Nahyan announced the establishment of the Artificial Intelligence and Advanced Technology Council (AIATC).
The President of the State, in his capacity as Ruler of the Emirate of Abu Dhabi, issued a law establishing the Council for Artificial Intelligence and Advanced Technology, headed by Tahnoun bin Zayed, and Khalid bin Mohammed bin Zayed as Vice-Chairman. pic.twitter.com/S97fTPOQVl
— Abu Dhabi Media Office (@ADMediaOffice) January 22, 2024
The Ruler of Abu Dhabi made the announcement through a press release on January 22, in which he unveiled new legislation to form the AIATC.
As part of its jurisdictional duties, the AIATC arm will focus on developing and implementing policies and strategies related to research and infrastructure, as well as investments in endeavors related to artificial intelligence and advanced technology in Abu Dhabi.
Besides creating frameworks to properly unleash these new technologies, the Artificial Intelligence and Advanced Technology Council will collaborate with local and global bodies to improve Abu Dhabi’s global standing in both areas.
This initiative is consistent with the President’s vision to make the Middle East country a global leader for investments, partnerships and talent in this sector.
This newly formed group will be headed by His Highness Sheikh Tahnoun bin Zayed Al Nahyan, who will assume the position of President, as indicated in the President’s decision. His Highness Sheikh Khalid bin Mohammed bin Zayed Al Nahyan holds the position of Vice President.
To ensure the success of the Council, His Excellency Khaldoon Khalifa Al Mubarak, His Excellency Jassim Mohammed Bu Ataba Al Zaabi, and Mr. Peng Xiao, CEO of G42 Group, will be members of this advanced technological initiative.
The UAE has already begun its journey to become a major technology hub of the future.
During a CNN International program covering the World Economic Forum (WEF24) event in Davos, Switzerland, Xiao stressed the importance of countries having an AI strategy.
According to Xiao, companies and countries without an AI strategy risk missing out as the technology continues to gain mainstream adoption in the coming years.
According to Xiao, companies and countries that do not have an AI strategy will become “lost” as the technology continues to gain mainstream adoption over the years.
“If you're a company…if you're a government, a nation, a state, and you don't have an AI strategy, you're lost!”
Well said UAE 🇦🇪 G42 CEO Peng Xiao @BeckyCNN in #wef24 #Davos2024 pic.twitter.com/NMUgWv3B7G
– Hassan Sajwani 🇦🇪 Hassan Sajwani (@HSajwanization) January 16, 2024
Xiao explained that his introduction is based on the fact that AI is “the most important modern invention” and is rapidly gaining momentum.
The UAE seizes the cryptocurrency initiative
Besides being a major hub for tourism, the UAE has been resolute in its commitment to becoming a powerhouse in all new technologies. This is evident in the establishment of the UAE Blockchain Strategy in 2018, which focuses on promoting blockchain adoption globally and attracting startups to the Middle Eastern country.
In addition, this initiative is said to be a cost-effective measure to assist the government's document distribution needs.
According to the press release, adopting blockchain technology could systematically save the UAE up to AED 11 billion (about $3 billion) annually.
The future UAE government has continued in this area as it has partnered with some of the best Distributed Ledger Technology (DLT) companies to achieve its goal.
The news has finally come out: #corn It is the first licensed and regulated DLT organization in Abu Dhabi, United Arab Emirates 🇦🇪
With the new headquarters in the UAE, we are transforming IOTA from being a blockchain institution in Europe, to one of the largest global crypto ecosystems. we will… pic.twitter.com/v7Z8BJysdq
– Dominic Schiener (@DomSchiener) November 29, 2023
One such organization is the IOTA DLT Foundation, which received a license from the Middle East government late last year.
