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NEW DELHI / WAM
The UAE and Invest India have on Saturday signed a Memorandum of Understanding for the India – UAE Artificial Intelligence Bridge which is dedicated to spur discussion and explore options for both countries to grow their artificial intelligence economies. This partnership will generate an estimated $20 billion in economic benefits during the next decade.
Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, and Deepak Bagla, Managing Director and CEO of Invest India, on Saturday signed a Memorandum of Understanding (MoU), here.
His Highness Sheikh Mohammed 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.”
Prime Minister Narendra Modi envisions that human objectives and intentions will determine AI’s progress. PM Modi has highlighted the need to develop Artificial Intelligence based solutions in India and for India. The Government of India is launching multiple initiatives to create an environment for digital growth through which the potential of AI can be realized in the areas of agriculture supply, healthcare, disaster management services etc. “The road ahead for artificial intelligence depends on and will be driven by human intentions. It is our intention that will determine the outcomes of artificial intelligence,” he said.
The UAE-India collaboration will seek to evaluate the dynamic nature of innovation and technology by convening a UAE-India 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 startups and research activities in partnership with the private sector.