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.