The Government of the United Arab Emirates launches initiatives on national blockchain technology and artificial intelligence

To the second United Arab Emirates (United Arab Emirates) Annual government meeting held in Abu Dhabi, the regional authorities have launched two national platforms aimed at strengthening the United Arab Emirates' artificial intelligence (AI) and blockchain technological ecosystems and ultimately make the state a hotbed for new technologies, reported the Emirates News Agency on November 28, 2018.

United Arab Emirates pointing to the Top

Distributed general accounting technology (DLT) has shown in recent times to have revolutionary potential to revolutionize a wide range of industries and the United Arab Emirates government, like many other forward-looking nations they are making serious efforts to be at the forefront of the blockchain movement.

During the second annual meeting of the United Arab Emirates government held on November 28, 2018 by the joint AI and Blockchain working group, officials created two initiatives for the development of blockchain technology and IA in the state.

The participants brainstormed the best ways to attract foreign investment, encourage entrepreneurship and create an environment conducive to the growth of DLT and other new technologies.

Stakeholders also talked about the challenges that hinder the adoption of AI and DLT, how to overcome obstacles and implement public lighting campaigns on the importance of nascent technologies.

Two key programs have been launched

With several jurisdictions around the world formulating robust regulations paintings for their blockchain technology ecosystems, the United Arab Emirates are doing their best to be a force to contend with in the blockchain technology world.

The meeting saw the launch of both the IA and Blockchain Guide Initiative, both the national artificial intelligence program and the blockchain capacity building.

According to officials, the AI ​​and the Blockchain Guide Initiative will focus on providing a standardized definition of AI and DLT at the federal level and will make the relevant government parastatals aware of the usefulness of rapidly growing technologies.

The national artificial intelligence program and the blockchain capacity building, on the other hand, is aimed at creating courses and grants in the field of artificial intelligence and blockchain technology, providing short training programs to the staff of the Emirates. and more.

"The United Arab Emirates are ready to adopt AI and blockchain technologies in various sectors of the economy, including health, education, finance and other industries," said the State Minister for Artificial Intelligence, Omar bin Sultan Al Olama.

It is important to underline that the program organizers have also mentioned that they would carry out extensive investigations to determine the jobs most affected by the IA and new technologies and reduce the number of employees in those sectors, and at the same time train the workers replaced to adapt to other areas of the economy.

Unlike China, which has only embraced blockchain technology, relegating cryptocurrency and ICO to the trash bin, the United Arab Emirates have a liberal position towards the encrypted.

At the beginning of October, BTCManager informed The UAE Commodities Authority had approved the ICOs in its bid to transform the nation's capital markets.