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The United Arab Emirates have announced that it is pursuing two national initiatives in the field of blockchain and artificial intelligence (AI).
Reportedly, the UAE government is trying to strengthen the country's position as a major player in the world in connection with the adoption of emerging technologies.
According to a report by the Emirates News Agency, the UAE's second annual UAE Government conference in Abu Dhabi ended with an agreement to focus on emerging technologies through a program dubbed "the AI initiative and Blockchain Guide."
The program aims to provide the country (federal governments) with a standardized approach to define blockchain technology and artificial intelligence.
As a result, AI and the Blockchain Guide will be implemented in all the smart cities of the seven emirates. Furthermore, the initiative will aim to ensure that all the competent authorities are familiar with the two technologies.
Having a common understanding of the two concepts is a crucial step in pushing the UAE to adopt them through the functions of the government.
More importantly, it will help simplify the operation of the program because the program will bring together different individuals, many of whom will have little knowledge of blockchain technology or even much less of AI.
Omar bin Sultan Al Olama, the State Minister for Artificial Intelligence of the Country, said that the government wants to have IA and blockchain technologies in use in all vital sectors of the economy, including health and # 39; education, among others.
He added that the United Arab Emirates are actively seeking cooperation and partnerships, which will be developed between the government and federal or local entities.
The country also wants to forge partnerships with global companies and startups with the aim of finding "effective and innovative solutions" that have a positive impact on development.
Blockchain to feed 50% of government transactions
According to reports from the Emirates News Agency, the UAE government would have accounted for half of all government operations powered by blockchain technology by 2021.
Likewise, Abu Dhabi has launched a successful ambition, with the expectation that the rapid growth and adoption of IA and blockchain technologies will see it become the global leader by 2031.
The Government of the Emirates also launched "the National program for the creation of artificial intelligence and blockchain capabilities, "An initiative whose main objective is to promote the AI and the blockchain technology sectors through scholarships and other educational programs.
The initiative will be facilitated through partnerships with the Ministry of Higher Education. The program will see the government launch various short courses and educational programs that will help the Emirates play an increasing role in the two sectors.
Initiative to support dismissed workers
Blockchain technology and artificial intelligence will also come with potential job losses, as it will occur when the technology starts to take root.
The capacity building program will have the task of identifying those sectors that could suffer job losses when the government starts adopting blockchain and AI technology.
The task force will have to work towards a harmonious reduction of people working in these fields. The initiative was tasked with retraining those workers who lose their jobs because of the new technology. This will help those who have been fired to find alternative employment.
The United Arab Emirates government has gone on to have blockchain and AI adopted across the country, but these efforts could find much more impetus with input from the private sector.
One of the most important private companies to collaborate, the government, was NMC Healthcare. At the start of the year the company collaborated with UAE Telecom in a move that saw the health service provider use blockchain to file records of their patients.
The United Arab Emirates have also moved to encourage local entrepreneurs who wish to use the first coin offers (ICO) to raise funds for projects. In October of last year, the Emirates Securities & Commodities Authority (ESCA) announced that ICO regulations would be ready within the first six months of 2019.
disavowal: This is not an investment advice. Cryptocurrencies are highly volatile assets and are very risky investments. Do your research and consult an investment professional before investing. Never invest more than you can afford to lose. Never borrow money to invest in cryptocurrencies.
