UAE, India sign agreement on AI

Partnership will generate an estimated $20b in economic benefits in 10 years

The UAE and India yesterday signed an agreement to spur discussion and explore options for both countries to grow their artificial intelligence economies.

The UAE Ministry for Artificial Intelligence and Invest India signed a memorandum of understanding for the India-UAE Artificial Intelligence Bridge. The partnership will generate an estimated $20 billion (Dh73.4 billion) in econ-omic benefits during the next decade.

His Highness Shaikh Mohammad 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.”

The UAE-India collaboration will seek to evaluate the dynamic nature of innovation and technology by convening a UAEIndia AI Working Committee (TWG) between the UAE Ministry for Artificial Intelligence, Invest India and Startup India. The TWG will meet once a year with the mandate to increase investment in AI start-ups and research activities in partnership with the private sector.

Omar Sultan Al Olama, UAE Minister of State for Artificial Intelligence, said how a country chooses to embrace artificial intelligence will have a tremendous impact on a country’s ability to innovate and prosper.

Deepak Bagla, managing director and CEO of Invest India, said India’s assets in this field makes the country a strong partner of the UAE.

The collaboration will broadly focus on three main areas including open engagement, fostering innovative ecosystems, and looking to the future.